Viant Technology (NASDAQ:DSP) Trading 6.9% Higher – Should You Buy?

Shares of Viant Technology Inc. (NASDAQ:DSP) were up 6.9% during mid-day trading on Thursday . The company traded as high as $10.83 and last traded at $10.83. Approximately 39,759 shares were traded during trading, a decline of 79% from the average daily volume of 188,656 shares. The stock had previously closed at $10.13.

Analyst Ratings Changes

A number of analysts have weighed in on the company. DA Davidson increased their target price on Viant Technology from $15.00 to $15.50 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. B. Riley Financial reaffirmed a “buy” rating and issued a $16.50 price target (up from $14.50) on shares of Viant Technology in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Viant Technology in a report on Wednesday, January 21st. Rosenblatt Securities restated a “buy” rating and issued a $20.00 target price on shares of Viant Technology in a research note on Tuesday, November 11th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Viant Technology in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $18.57.

Viant Technology Stock Up 10.0%

The stock has a market capitalization of $695.47 million, a P/E ratio of 101.28 and a beta of 1.05. The stock’s 50 day moving average price is $11.10 and its 200-day moving average price is $10.24.

Insider Buying and Selling

In other Viant Technology news, CEO Timothy Vanderhook sold 2,574 shares of Viant Technology stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $12.87, for a total value of $33,127.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Capital V. Llc sold 9,836 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $9.17, for a total value of $90,196.12. Following the transaction, the insider directly owned 1,260 shares in the company, valued at approximately $11,554.20. The trade was a 88.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 155,123 shares of company stock worth $1,729,594 in the last three months. 29.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viant Technology

Several hedge funds have recently made changes to their positions in DSP. Farther Finance Advisors LLC purchased a new stake in Viant Technology during the 3rd quarter valued at about $31,000. Russell Investments Group Ltd. lifted its holdings in shares of Viant Technology by 86.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock worth $32,000 after purchasing an additional 1,228 shares during the period. CWM LLC boosted its position in Viant Technology by 431.0% in the fourth quarter. CWM LLC now owns 2,793 shares of the company’s stock valued at $34,000 after buying an additional 2,267 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Viant Technology by 620.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock worth $35,000 after buying an additional 2,483 shares during the period. Finally, AlphaQuest LLC increased its holdings in Viant Technology by 287.6% in the 2nd quarter. AlphaQuest LLC now owns 4,640 shares of the company’s stock worth $61,000 after buying an additional 3,443 shares during the period. 11.38% of the stock is owned by institutional investors and hedge funds.

About Viant Technology

Viant Technology Inc (Nasdaq: DSP) is a software-as-a-service (SaaS) advertising technology company that delivers data-driven solutions to marketers and agencies. Its core offering, Adelphic, is a programmatic demand-side platform (DSP) that empowers clients to plan, execute and optimize digital ad campaigns across desktop, mobile, connected TV and other emerging channels.

Complementing its DSP, Viant offers PeopleCloud, a people-based data management platform (DMP) that aggregates and normalizes first- and third-party audience data.