Viant Technology (NASDAQ:DSP) Shares Gap Down on Analyst Downgrade

Viant Technology Inc. (NASDAQ:DSP)’s stock price gapped down before the market opened on Tuesday after Raymond James lowered their price target on the stock from $30.00 to $27.00. The stock had previously closed at $19.75, but opened at $13.59. Raymond James currently has an outperform rating on the stock. Viant Technology shares last traded at $14.04, with a volume of 472,507 shares traded.

Several other research firms have also recently issued reports on DSP. Scotiabank assumed coverage on 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. Craig Hallum raised their price target on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and set a $21.00 price target on shares of Viant Technology in a report on Tuesday. JMP Securities raised their price target on Viant Technology from $17.00 to $24.00 and gave the company a “market outperform” rating in a report on Monday, January 27th. Finally, Canaccord Genuity Group raised their price target on Viant Technology from $18.00 to $22.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $21.13.

Insider Transactions at Viant Technology

In related news, CFO Larry Madden sold 14,284 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $18.76, for a total transaction of $267,967.84. Following the completion of the sale, the chief financial officer now directly owns 358,624 shares of the company’s stock, valued at approximately $6,727,786.24. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Max O. Valdes sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $20.51, for a total value of $153,825.00. Following the sale, the director now directly owns 63,452 shares of the company’s stock, valued at $1,301,400.52. This represents a 10.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,068 shares of company stock worth $752,039. 28.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viant Technology

A number of institutional investors and hedge funds have recently modified their holdings of DSP. Summit Global Investments lifted its stake in shares of Viant Technology by 145.9% during the 3rd quarter. Summit Global Investments now owns 27,736 shares of the company’s stock worth $307,000 after acquiring an additional 16,457 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Viant Technology during the 3rd quarter worth approximately $122,000. Segall Bryant & Hamill LLC lifted its stake in shares of Viant Technology by 0.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock worth $4,959,000 after acquiring an additional 2,915 shares during the last quarter. FMR LLC lifted its stake 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 acquiring an additional 3,123 shares during the last quarter. Finally, Martingale Asset Management L P bought a new stake in Viant Technology during the 3rd quarter valued at $254,000. 11.38% of the stock is owned by institutional investors.

Viant Technology Trading Down 28.5 %

The stock has a 50-day simple moving average of $20.62 and a two-hundred day simple moving average of $16.23. The firm has a market capitalization of $887.47 million, a P/E ratio of 235.37 and a beta of 1.01.

About Viant Technology

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.