Viant Technology Inc. (NASDAQ:DSP) Sees Large Drop in Short Interest

Viant Technology Inc. (NASDAQ:DSP) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 434,400 shares, a decline of 7.6% from the November 15th total of 469,900 shares. Based on an average trading volume of 150,100 shares, the short-interest ratio is presently 2.9 days. Currently, 2.9% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DSP. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and boosted their target price for the stock from $13.00 to $18.00 in a research note on Wednesday, November 13th. Canaccord Genuity Group boosted their price objective on Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Craig Hallum increased their target price on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Scotiabank initiated coverage on Viant Technology in a report on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 price target on the stock. Finally, Needham & Company LLC raised their price objective on shares of Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $17.75.

Insider Buying and Selling at Viant Technology

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

Institutional Investors Weigh In On Viant Technology

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in Viant Technology in the second quarter valued at approximately $47,000. FMR LLC lifted its position in shares of Viant Technology by 77.9% during the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after acquiring an additional 3,123 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Viant Technology during the second quarter worth $84,000. Summit Global Investments acquired a new stake in Viant Technology in the second quarter worth $111,000. Finally, Mackenzie Financial Corp bought a new stake in Viant Technology in the second quarter valued at $112,000. 11.38% of the stock is owned by institutional investors.

Viant Technology Price Performance

Shares of DSP opened at $20.71 on Wednesday. The business has a 50-day moving average of $15.52 and a 200-day moving average of $12.21. Viant Technology has a 1 year low of $6.31 and a 1 year high of $21.74. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 345.17 and a beta of 1.00.

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.