Short Interest in Viant Technology Inc. (NASDAQ:DSP) Decreases By 21.9%

Viant Technology Inc. (NASDAQ:DSP) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 492,200 shares, a decline of 21.9% from the October 15th total of 630,200 shares. Based on an average trading volume of 83,400 shares, the short-interest ratio is currently 5.9 days. Approximately 3.5% of the company’s stock are sold short.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 2,768 shares of the firm’s 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 directly owns 529,848 shares of the company’s stock, valued at approximately $5,950,193.04. This trade represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 10,419 shares of company stock worth $116,647 in the last three months. Insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

Hedge funds have recently added to or reduced their stakes in the company. Kennedy Capital Management LLC increased its position in shares of Viant Technology by 3.8% in the first quarter. Kennedy Capital Management LLC now owns 42,970 shares of the company’s stock valued at $458,000 after buying an additional 1,562 shares in the last quarter. State Street Corp increased its holdings in Viant Technology by 0.6% in the 3rd quarter. State Street Corp now owns 283,365 shares of the company’s stock worth $3,137,000 after acquiring an additional 1,722 shares in the last quarter. Rhumbline Advisers raised its position in Viant Technology by 5.1% during the second quarter. Rhumbline Advisers now owns 42,430 shares of the company’s stock worth $419,000 after acquiring an additional 2,070 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in Viant Technology by 0.7% during 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 in the last quarter. Finally, FMR LLC grew 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. 11.38% of the stock is owned by hedge funds and other institutional investors.

Viant Technology Stock Up 5.3 %

Shares of DSP traded up $0.81 during mid-day trading on Friday, reaching $16.21. The company had a trading volume of 274,826 shares, compared to its average volume of 131,116. Viant Technology has a 52-week low of $5.36 and a 52-week high of $16.97. The stock has a 50 day moving average of $11.67 and a two-hundred day moving average of $10.60. The stock has a market capitalization of $1.02 billion, a P/E ratio of 270.21 and a beta of 0.72.

Wall Street Analysts Forecast Growth

DSP has been the topic of several research reports. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $18.00 in a research report on Wednesday. Craig Hallum raised their price objective on shares of Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC lifted 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. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $18.00 in a research report on Wednesday. Finally, JMP Securities raised their target price on shares of Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $15.86.

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.