Viant Technology (NASDAQ:DSP) Sees Strong Trading Volume – What’s Next?

Viant Technology Inc. (NASDAQ:DSP) saw unusually-high trading volume on Thursday . Approximately 707,000 shares traded hands during mid-day trading, an increase of 249% from the previous session’s volume of 202,407 shares.The stock last traded at $12.08 and had previously closed at $12.96.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Raymond James dropped their target price on Viant Technology from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Scotiabank began coverage on Viant Technology in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 price objective for the company. Craig Hallum upped their price target on shares of Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and raised their price target for the stock from $13.00 to $18.00 in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group increased their target price on shares of Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $22.43.

Viant Technology Price Performance

The firm’s 50-day moving average is $19.97 and its 200-day moving average is $16.33. The company has a market capitalization of $754.37 million, a P/E ratio of 199.37 and a beta of 1.02.

Insider Buying and Selling

In other news, CFO Larry Madden sold 14,284 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.76, for a total transaction of $267,967.84. Following the sale, the chief financial officer now directly owns 358,624 shares in the company, valued at $6,727,786.24. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 28.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Viant Technology

Several large investors have recently made changes to their positions in the business. New York State Teachers Retirement System purchased a new position in shares of Viant Technology in the fourth quarter worth $27,000. Summit Investment Advisors Inc. grew its holdings in Viant Technology by 83.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company’s stock valued at $30,000 after buying an additional 728 shares in the last quarter. FMR LLC increased its stake in Viant Technology by 77.9% in 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. Quantbot Technologies LP purchased a new position in shares of Viant Technology in the fourth quarter valued at $80,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Viant Technology in the fourth quarter worth $88,000. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

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.