Viant Technology (NASDAQ:DSP) Trading Down 4.1% on Analyst Downgrade

Viant Technology Inc. (NASDAQ:DSP) shares dropped 4.1% during trading on Friday after Raymond James lowered their price target on the stock from $27.00 to $18.00. Raymond James currently has an outperform rating on the stock. Viant Technology traded as low as $12.53 and last traded at $12.72. Approximately 226,886 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 223,408 shares. The stock had previously closed at $13.26.

Several other brokerages have also commented on DSP. JMP Securities boosted their price target on shares of Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a report on Monday, January 27th. Needham & Company LLC restated a “buy” rating and set a $21.00 price target on shares of Viant Technology in a research report on Wednesday, April 2nd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $21.14.

Insider Activity at Viant Technology

In related news, CFO Larry Madden sold 14,284 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $23.12, for a total value of $330,246.08. Following the completion of the sale, the chief financial officer now owns 344,340 shares of the company’s stock, valued at approximately $7,961,140.80. This represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 28.80% of the stock is owned by corporate insiders.

Institutional Trading of Viant Technology

Hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new position in Viant Technology in the fourth quarter valued at about $27,000. Summit Investment Advisors Inc. lifted its holdings in shares of Viant Technology by 83.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company’s stock worth $30,000 after acquiring an additional 728 shares during the last quarter. FMR LLC boosted its position in shares of Viant Technology by 77.9% during the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after purchasing an additional 3,123 shares during the period. Quantbot Technologies LP acquired a new stake in Viant Technology in the 4th quarter valued at approximately $80,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Viant Technology in the fourth quarter valued at approximately $88,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Viant Technology Price Performance

The business has a 50 day simple moving average of $16.60 and a 200 day simple moving average of $16.62. The company has a market capitalization of $819.33 million, a price-to-earnings ratio of 216.54 and a beta of 1.21.

Viant Technology Company Profile

Viant Technology Inc operates as an advertising technology company. It provides Household ID, a people-based innovation that combines digital and personal identifiers into a normalized household profile; AI Bid Optimizer, solution that uses AI to analyze historical bid opportunities to predict the lowest media cost for desired advertisement; and Viant Data Platform, which offers marketers control over their own data with actionable insights into their marketing initiatives within a single platform.