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

Viant Technology Inc. (NASDAQ:DSP)’s stock price was down 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. 226,886 shares changed 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.

A number of other research firms have also recently weighed in on DSP. 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 research note on Monday, January 27th. Needham & Company LLC reissued a “buy” rating and set a $21.00 target price on shares of Viant Technology in a research report on Wednesday, April 2nd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $21.14.

Insiders Place Their Bets

In other Viant Technology news, CFO Larry Madden sold 14,284 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $23.12, for a total transaction of $330,246.08. Following the transaction, the chief financial officer now directly owns 344,340 shares of the company’s stock, valued at approximately $7,961,140.80. This trade represents a 3.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

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

Viant Technology Price Performance

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

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.