Short Interest in Viant Technology Inc. (NASDAQ:DSP) Increases By 8.5%

Viant Technology Inc. (NASDAQ:DSP) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 655,700 shares, a growth of 8.5% from the January 15th total of 604,300 shares. Currently, 4.6% of the company’s stock are short sold. Based on an average daily trading volume, of 252,400 shares, the days-to-cover ratio is presently 2.6 days.

Insider Activity

In other news, CFO Larry Madden sold 14,284 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $19.51, for a total value of $278,680.84. Following the completion of the sale, the chief financial officer now directly owns 378,350 shares of the company’s stock, valued at approximately $7,381,608.50. This represents a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Max O. Valdes sold 7,500 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $20.51, for a total value of $153,825.00. Following the completion of the sale, the director now directly owns 63,452 shares of the company’s stock, valued at $1,301,400.52. The trade was a 10.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,352 shares of company stock worth $1,030,720. 28.80% of the stock is currently owned by company insiders.

Institutional Trading of Viant Technology

A number of large investors have recently added to or reduced their stakes in DSP. Summit Global Investments lifted its stake in Viant Technology by 145.9% in the third quarter. Summit Global Investments now owns 27,736 shares of the company’s stock valued at $307,000 after acquiring an additional 16,457 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Viant Technology in the third quarter valued at about $122,000. Segall Bryant & Hamill LLC raised its position in shares of Viant Technology by 0.7% in the third quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock valued at $4,959,000 after purchasing an additional 2,915 shares during the period. FMR LLC raised its position in shares of Viant Technology by 77.9% in the third quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after purchasing an additional 3,123 shares during the period. Finally, Martingale Asset Management L P bought a new position in shares of Viant Technology in the third quarter valued at about $254,000. Institutional investors and hedge funds own 11.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DSP. JMP Securities raised their price target on Viant Technology from $17.00 to $24.00 and gave the company a “market outperform” rating in a research report on Monday, January 27th. 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 note on Monday, December 2nd. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and increased their price objective for the company from $13.00 to $18.00 in a research note on Wednesday, November 13th. Craig Hallum increased their price objective on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC increased their price objective on Viant Technology from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $20.29.

Viant Technology Price Performance

NASDAQ DSP opened at $22.77 on Tuesday. The firm has a market capitalization of $1.43 billion, a P/E ratio of 379.55 and a beta of 1.01. Viant Technology has a 1-year low of $7.77 and a 1-year high of $26.33. The business’s 50-day simple moving average is $20.62 and its 200-day simple moving average is $15.41.

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.