Viant Technology (NASDAQ:DSP) Stock Price Down 4.3% – Here’s What Happened

Viant Technology Inc. (NASDAQ:DSP)’s stock price dropped 4.3% on Wednesday . The stock traded as low as $10.29 and last traded at $10.47. Approximately 73,386 shares changed hands during trading, a decline of 66% from the average daily volume of 217,812 shares. The stock had previously closed at $10.94.

Analysts Set New Price Targets

DSP has been the topic of several recent analyst reports. DA Davidson lifted their price objective on Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a report on Tuesday, May 12th. Wall Street Zen cut Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday. Freedom Capital upgraded Viant Technology to a “strong-buy” rating in a report on Tuesday, March 10th. Loop Capital set a $14.50 price objective on Viant Technology in a report on Tuesday, March 10th. Finally, B. Riley Financial lifted their price objective on Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Viant Technology has a consensus rating of “Buy” and a consensus target price of $18.00.

Viant Technology Trading Down 0.4%

The stock has a market cap of $690.13 million, a P/E ratio of 30.20 and a beta of 1.00. The company has a 50 day simple moving average of $11.01 and a 200 day simple moving average of $10.90.

Viant Technology (NASDAQ:DSP) last released its earnings results on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $88.54 million during the quarter, compared to the consensus estimate of $50.13 million. Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. As a group, sell-side analysts expect that Viant Technology Inc. will post -0.12 earnings per share for the current year.

Insider Buying and Selling at Viant Technology

In other Viant Technology news, CEO Timothy Vanderhook sold 2,796 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $10.74, for a total value of $30,029.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Capital V. Llc sold 8,389 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $10.74, for a total value of $90,097.86. Following the completion of the sale, the insider owned 37,500 shares in the company, valued at $402,750. The trade was a 18.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 178,913 shares of company stock worth $1,976,016. Corporate insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Topline Capital Management LLC acquired a new position in shares of Viant Technology during the 3rd quarter worth approximately $2,150,000. Tudor Investment Corp ET AL increased its position in shares of Viant Technology by 39.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 191,636 shares of the company’s stock worth $1,654,000 after purchasing an additional 54,507 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Viant Technology by 474.3% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 70,533 shares of the company’s stock worth $609,000 after purchasing an additional 58,251 shares during the last quarter. Royce & Associates LP increased its position in shares of Viant Technology by 72.3% during the 4th quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock worth $10,981,000 after purchasing an additional 382,664 shares during the last quarter. Finally, Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Viant Technology during the 4th quarter worth approximately $873,000. Institutional investors and hedge funds own 11.38% of the company’s stock.

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.