Viant Technology (NASDAQ:DSP) Sees Large Volume Increase – Here’s What Happened

Viant Technology Inc. (NASDAQ:DSP) saw strong trading volume on Thursday . 655,786 shares traded hands during trading, an increase of 242% from the previous session’s volume of 191,533 shares.The stock last traded at $15.10 and had previously closed at $15.09.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Raymond James cut their price target on Viant Technology from $30.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday. JMP Securities upped their price target on Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a report on Monday, January 27th. Needham & Company LLC restated a “buy” rating and set a $21.00 price target on shares of Viant Technology in a report on Tuesday. Canaccord Genuity Group increased their price objective on Viant Technology from $18.00 to $22.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Scotiabank assumed coverage on Viant Technology in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price objective on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Viant Technology has a consensus rating of “Buy” and an average target price of $22.43.

Viant Technology Trading Down 2.6 %

The firm has a market cap of $922.04 million, a PE ratio of 244.54 and a beta of 1.02. The business has a fifty day moving average price of $20.41 and a 200 day moving average price of $16.21.

Insider Activity at Viant Technology

In related news, CFO Larry Madden sold 14,284 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.76, for a total value of $267,967.84. Following the completion of the sale, the chief financial officer now directly owns 358,624 shares of the company’s stock, valued at $6,727,786.24. This represents a 3.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

A number of large investors have recently made changes to their positions in DSP. JPMorgan Chase & Co. boosted its position in shares of Viant Technology by 353.7% in the 4th quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company’s stock valued at $8,323,000 after purchasing an additional 341,684 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Viant Technology by 189.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 261,221 shares of the company’s stock worth $4,961,000 after acquiring an additional 171,047 shares during the period. Raymond James Financial Inc. acquired a new stake in Viant Technology during the 4th quarter worth approximately $3,022,000. Millennium Management LLC lifted its position in Viant Technology by 784.8% during the 4th quarter. Millennium Management LLC now owns 170,987 shares of the company’s stock worth $3,247,000 after acquiring an additional 151,662 shares during the period. Finally, Marshall Wace LLP lifted its position in Viant Technology by 182.1% during the 4th quarter. Marshall Wace LLP now owns 219,060 shares of the company’s stock worth $4,160,000 after acquiring an additional 141,403 shares during the period. 11.38% of the stock is owned by institutional investors and hedge funds.

About Viant Technology

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.