Viant Technology (NASDAQ:DSP) Major Shareholder Capital Llc Sells 7,500 Shares

Viant Technology Inc. (NASDAQ:DSP) major shareholder Capital Llc sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $11.79, for a total transaction of $88,425.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Viant Technology Stock Down 1.3%

DSP traded down $0.15 during trading on Friday, reaching $11.76. 381,803 shares of the company were exchanged, compared to its average volume of 310,679. The company’s 50-day moving average is $9.90 and its two-hundred day moving average is $11.04. Viant Technology Inc. has a 12-month low of $8.11 and a 12-month high of $26.33. The company has a market cap of $734.22 million, a price-to-earnings ratio of 106.92 and a beta of 1.05.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings data on Monday, November 10th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). The firm had revenue of $85.58 million during the quarter, compared to the consensus estimate of $85.54 million. Viant Technology had a net margin of 0.57% and a negative return on equity of 5.00%. Equities analysts forecast that Viant Technology Inc. will post -0.39 earnings per share for the current year.

Key Stores Impacting Viant Technology

Here are the key news stories impacting Viant Technology this week:

• Positive Sentiment: Strategic partnership: Viant announced a strategic integration with iHeartMedia to enable addressable audio at scale — this expands Viant’s addressable inventory and advertiser reach in audio and podcasting, a tangible commercial growth opportunity. iHeartMedia and Viant Partner
• Positive Sentiment: Analyst backdrop: Brokerages maintain a buy consensus and several price-target upgrades/affirmations, supporting upside expectations versus the current quote. That institutional sentiment can cushion downside and attract buyers. Analyst Consensus: Buy
• Neutral Sentiment: Valuation and technicals: DSP still trades with a high trailing P/E and has recently been around its 50- and 200-day moving averages; the combination of stretched valuation and mixed fundamentals means traders may react strongly to incremental news. Market Data & Profile
• Negative Sentiment: Insider and major-holder selling: Multiple insiders disclosed sales on Dec. 17 — CFO Larry Madden sold 13,477 shares (~$157.7K at ~$11.70), the COO sold several tranches, and major shareholder Capital V LLC sold 15,000 shares (reported as a ~40% stake reduction in that filing). Large or clustered insider/holder sales can be read as a near-term negative catalyst and may increase selling pressure. Insider Selling Details

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DSP. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Viant Technology in the second quarter worth $8,443,000. Cubist Systematic Strategies LLC increased its stake in Viant Technology by 77.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 92,686 shares of the company’s stock worth $1,150,000 after buying an additional 40,567 shares in the last quarter. Granite Investment Partners LLC bought a new stake in shares of Viant Technology during the second quarter valued at approximately $7,239,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Viant Technology by 30.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 404,895 shares of the company’s stock valued at $5,357,000 after purchasing an additional 93,330 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Viant Technology in the first quarter valued at $982,000. 11.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DSP shares. Wall Street Zen downgraded shares of Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Viant Technology in a report on Wednesday, October 8th. B. Riley reaffirmed a “buy” rating and issued a $16.50 target price (up previously from $14.50) on shares of Viant Technology in a research note on Tuesday, November 11th. Citizens Jmp reduced their price target on shares of Viant Technology from $18.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Tuesday, November 11th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Viant Technology in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Viant Technology presently has a consensus rating of “Buy” and an average target price of $18.50.

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.