Short Interest in Viant Technology Inc. (NASDAQ:DSP) Rises By 7.1%

Viant Technology Inc. (NASDAQ:DSP) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 465,200 shares, a growth of 7.1% from the November 30th total of 434,400 shares. Currently, 3.2% of the company’s stock are short sold. Based on an average daily trading volume, of 173,600 shares, the days-to-cover ratio is presently 2.7 days.

Insider Activity at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 2,768 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $11.23, for a total transaction of $31,084.64. Following the transaction, the chief financial officer now owns 529,848 shares of the company’s stock, valued at approximately $5,950,193.04. This trade represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Max O. Valdes sold 7,500 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $20.51, for a total value of $153,825.00. Following the completion of the sale, the director now directly owns 63,452 shares of the company’s stock, valued at $1,301,400.52. The trade was a 10.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,750 shares of company stock valued at $1,907,441 over the last quarter. 28.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Viant Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Viant Technology by 102.2% in the third quarter. JPMorgan Chase & Co. now owns 96,596 shares of the company’s stock worth $1,069,000 after acquiring an additional 48,826 shares in the last quarter. Barclays PLC raised its position in Viant Technology by 74.7% in the third quarter. Barclays PLC now owns 39,255 shares of the company’s stock valued at $435,000 after purchasing an additional 16,784 shares during the period. Geode Capital Management LLC lifted its stake in shares of Viant Technology by 1.9% during the third quarter. Geode Capital Management LLC now owns 365,339 shares of the company’s stock worth $4,045,000 after purchasing an additional 6,803 shares in the last quarter. State Street Corp grew its stake in shares of Viant Technology by 0.6% in the third quarter. State Street Corp now owns 283,365 shares of the company’s stock valued at $3,137,000 after buying an additional 1,722 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new stake in shares of Viant Technology during the 3rd quarter valued at about $254,000. 11.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DSP. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $18.00 in a research report on Wednesday, November 13th. JMP Securities boosted their price target on Viant Technology from $12.00 to $17.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group increased their price objective on Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Craig Hallum boosted their price objective on shares of Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Scotiabank assumed coverage on shares of Viant Technology in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 target price for the company. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $17.75.

Viant Technology Stock Down 0.4 %

Shares of DSP stock traded down $0.08 on Thursday, reaching $18.91. 51,707 shares of the stock were exchanged, compared to its average volume of 140,742. The stock has a market cap of $1.19 billion, a P/E ratio of 315.22 and a beta of 1.00. The firm has a 50 day moving average of $17.14 and a two-hundred day moving average of $12.93. Viant Technology has a 1-year low of $6.39 and a 1-year high of $21.74.

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.