Viant Technology (NASDAQ:DSP) Shares Gap Down – Time to Sell?

Viant Technology Inc. (NASDAQ:DSP)’s share price gapped down before the market opened on Monday . The stock had previously closed at $20.58, but opened at $20.08. Viant Technology shares last traded at $20.11, with a volume of 88,382 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JMP Securities upped their price objective on Viant Technology from $12.00 to $17.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Scotiabank started coverage on Viant Technology in a report on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 price objective on the stock. Needham & Company LLC increased their price objective on Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Craig Hallum raised their price target on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, 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 research report on Monday, December 2nd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $17.75.

Viant Technology Price Performance

The stock has a market cap of $1.32 billion, a PE ratio of 343.00 and a beta of 1.00. The company has a 50 day moving average price of $15.13 and a two-hundred day moving average price of $12.06.

Insider Buying and Selling

In other Viant Technology news, Director Max O. Valdes sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $20.51, for a total transaction of $153,825.00. Following the sale, the director now directly owns 63,452 shares in the company, valued at $1,301,400.52. This represents a 10.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Larry Madden sold 2,768 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $11.23, for a total value of $31,084.64. Following the sale, the chief financial officer now owns 529,848 shares in the company, valued at approximately $5,950,193.04. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,950 shares of company stock valued at $1,953,817 over the last 90 days. Company insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in Viant Technology in the second quarter worth approximately $47,000. FMR LLC lifted its holdings in shares of Viant Technology by 77.9% in the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after buying an additional 3,123 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Viant Technology in the 2nd quarter valued at about $84,000. Victory Capital Management Inc. purchased a new position in shares of Viant Technology in the 3rd quarter valued at about $122,000. Finally, Summit Global Investments purchased a new position in shares of Viant Technology in the 2nd quarter valued at about $111,000. Institutional investors own 11.38% of the company’s stock.

Viant Technology Company Profile

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.