Viant Technology (NASDAQ:DSP) Major Shareholder Capital Llc Sells 14,111 Shares of Stock

Viant Technology Inc. (NASDAQ:DSP) major shareholder Capital Llc sold 14,111 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $10.91, for a total transaction of $153,951.01. Following the transaction, the insider owned 8,389 shares in the company, valued at approximately $91,523.99. This represents a 62.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Viant Technology Stock Up 0.9%

Viant Technology stock opened at $10.78 on Thursday. The company’s fifty day simple moving average is $10.61 and its 200-day simple moving average is $10.62. Viant Technology Inc. has a 12 month low of $8.11 and a 12 month high of $16.25. The stock has a market cap of $682.91 million, a P/E ratio of 33.69 and a beta of 0.94.

Key Stories Impacting Viant Technology

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

• Positive Sentiment: Brokerages issued a consensus “Buy” on DSP, which supports upside sentiment for the shares and likely helped lift the stock. Read More.
• Neutral Sentiment: CEO Timothy Vanderhook executed a planned Rule 10b5-1 program and sold a total of 12,500 shares across Apr. 20–22 for roughly $136.9K in proceeds (prices ranged ~$11.12–$10.74). Because these were pre-arranged trades, the sales are less informative about management’s near-term view but add supply to the market. Read More.
• Negative Sentiment: Major shareholder Capital V LLC sold 37,500 shares over Apr. 20–22 (about $410.8K total), representing material reductions in its stakes. Even though those sales were reported as part of a Rule 10b5-1 plan, the size and pace of the reductions can be viewed negatively by investors concerned about insider liquidity and demand. Read More.

Hedge Funds Weigh In On Viant Technology

Several institutional investors have recently bought and sold shares of the stock. Punch & Associates Investment Management Inc. raised its holdings in Viant Technology by 3.8% during the third quarter. Punch & Associates Investment Management Inc. now owns 1,199,490 shares of the company’s stock valued at $10,352,000 after buying an additional 44,357 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Viant Technology by 72.3% in the fourth quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock worth $10,981,000 after buying an additional 382,664 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Viant Technology by 2.6% in the fourth quarter. Renaissance Technologies LLC now owns 493,800 shares of the company’s stock worth $5,945,000 after buying an additional 12,683 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Viant Technology by 91.2% in the fourth quarter. Millennium Management LLC now owns 429,993 shares of the company’s stock worth $5,177,000 after buying an additional 205,160 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Viant Technology by 6.4% in the second quarter. Geode Capital Management LLC now owns 380,598 shares of the company’s stock worth $5,036,000 after buying an additional 22,857 shares during the last quarter. 11.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DSP has been the topic of a number of research reports. B. Riley Financial restated a “buy” rating and issued a $17.00 price objective (up from $16.50) on shares of Viant Technology in a report on Thursday, March 12th. Loop Capital set a $14.50 price objective on Viant Technology in a report on Tuesday, March 10th. DA Davidson increased their price objective on Viant Technology from $15.50 to $16.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Viant Technology in a report on Wednesday, January 21st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Viant Technology in a report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Viant Technology presently has an average rating of “Buy” and a consensus target price of $17.79.

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.