Viant Technology (NASDAQ:DSP) Sees Strong Trading Volume – Here’s Why

Shares of Viant Technology Inc. (NASDAQ:DSP) saw an uptick in trading volume on Monday . 634,934 shares were traded during trading, an increase of 176% from the previous session’s volume of 230,302 shares.The stock last traded at $11.2950 and had previously closed at $11.10.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Weiss Ratings downgraded shares of Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. B. Riley Financial lifted their price target on shares of Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Freedom Capital raised shares of Viant Technology to a “strong-buy” rating in a research note on Tuesday, March 10th. Loop Capital set a $14.50 price target on shares of Viant Technology in a research note on Tuesday, March 10th. Finally, DA Davidson lifted their price target on shares of Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $18.00.

Viant Technology Price Performance

The firm has a market capitalization of $728.04 million, a PE ratio of 30.86 and a beta of 1.04. The firm’s fifty day moving average is $11.21 and its two-hundred day moving average is $11.21.

Viant Technology (NASDAQ:DSP) last released its earnings results on Monday, May 11th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The company had revenue of $88.54 million during the quarter, compared to analysts’ expectations of $50.13 million. Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. As a group, equities research analysts predict that Viant Technology Inc. will post -0.18 EPS for the current fiscal year.

Insider Transactions at Viant Technology

In other Viant Technology news, major shareholder Capital V. Llc sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $11.80, for a total value of $177,000.00. Following the transaction, the insider directly owned 23,760 shares in the company, valued at $280,368. The trade was a 38.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Larry Madden sold 18,663 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $12.24, for a total transaction of $228,435.12. Following the completion of the transaction, the chief financial officer owned 499,201 shares in the company, valued at approximately $6,110,220.24. The trade was a 3.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 234,159 shares of company stock worth $2,646,250. Corporate insiders own 29.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP boosted its stake in Viant Technology by 81.6% in the first quarter. Quantinno Capital Management LP now owns 62,409 shares of the company’s stock valued at $699,000 after acquiring an additional 28,052 shares during the last quarter. Punch & Associates Investment Management Inc. raised its position in shares of Viant Technology by 16.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock valued at $15,088,000 after purchasing an additional 190,248 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Viant Technology in the first quarter valued at approximately $97,000. Hillsdale Investment Management Inc. bought a new stake in shares of Viant Technology in the first quarter valued at approximately $320,000. Finally, Hsbc Holdings PLC raised its position in shares of Viant Technology by 8.2% in the fourth quarter. Hsbc Holdings PLC now owns 27,950 shares of the company’s stock valued at $332,000 after purchasing an additional 2,122 shares during the period. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

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.