Viant Technology (NASDAQ:DSP) Share Price Breaks Above 50 Day Moving Average – Time to Sell?

Viant Technology Inc. (NASDAQ:DSP)’s stock price passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $12.81 and traded as high as $13.08. Viant Technology shares last traded at $12.96, with a volume of 219,052 shares changing hands.

Wall Street Analyst Weigh In

DSP has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Viant Technology from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. DA Davidson raised shares of Viant Technology to a “strong-buy” rating in a report on Monday, October 5th. UBS Group boosted their price objective on shares of Viant Technology from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Citigroup reissued a “market outperform” rating on shares of Viant Technology in a research note on Tuesday, August 11th. Finally, Rosenblatt Securities upped their target price on Viant Technology from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $18.33.

Viant Technology Stock Up 1.9%

The firm has a 50 day simple moving average of $12.81 and a 200-day simple moving average of $11.78. The company has a market cap of $861.45 million, a PE ratio of 41.81 and a beta of 1.16.

Insider Activity at Viant Technology

In other news, CFO Larry Madden sold 20,711 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $13.14, for a total value of $272,142.54. Following the sale, the chief financial officer directly owned 322,000 shares in the company, valued at approximately $4,231,080. This trade represents a 6.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 79,806 shares of company stock worth $1,020,703 over the last ninety days. Corporate insiders own 29.43% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. State of Wyoming acquired a new stake in Viant Technology in the third quarter valued at approximately $68,000. Inspire Investing LLC purchased a new position in Viant Technology in the third quarter worth $643,000. Squarepoint Ops LLC increased its position in shares of Viant Technology by 8.8% during the second quarter. Squarepoint Ops LLC now owns 39,568 shares of the company’s stock worth $501,000 after purchasing an additional 3,207 shares in the last quarter. Globeflex Capital L P acquired a new position in shares of Viant Technology during the second quarter worth $1,316,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Viant Technology during the second quarter worth $609,000. Institutional investors own 11.38% of the company’s stock.

Viant Technology Company Profile

Viant Technology Inc is an advertising technology company that provides software and services for planning, buying, and measuring digital advertising campaigns. Its platform enables advertisers and agencies to purchase advertising across channels such as connected television, streaming video, display, mobile, audio, and digital out-of-home media.

The company’s solutions are designed to support automated, data-driven media buying, audience targeting, campaign optimization, and performance measurement.