Viant Technology Inc. (NASDAQ:DSP) Short Interest Down 7.6% in November

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on DSP. Canaccord Genuity Group increased their target price on shares of Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $18.00 in a research note on Wednesday, November 13th. Needham & Company LLC upped their target price on Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Scotiabank began coverage on Viant Technology in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price target for the company. Finally, JMP Securities increased their price objective on Viant Technology from $12.00 to $17.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $17.75.

Insider Buying and Selling

In related news, CFO Larry Madden sold 14,284 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $19.51, for a total transaction of $278,680.84. Following the completion of the transaction, the chief financial officer now directly owns 378,350 shares in the company, valued at approximately $7,381,608.50. This trade represents a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Max O. Valdes sold 7,500 shares of the business’s 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 owns 63,452 shares in the company, valued at $1,301,400.52. The trade was a 10.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 121,950 shares of company stock valued at $1,953,817. 28.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Global Investments bought a new stake in Viant Technology in the 2nd quarter valued at $111,000. Bank of New York Mellon Corp grew its stake in shares of Viant Technology by 14.8% in the second quarter. Bank of New York Mellon Corp now owns 43,571 shares of the company’s stock valued at $430,000 after acquiring an additional 5,601 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Viant Technology during the second quarter worth about $47,000. Rhumbline Advisers raised its stake in Viant Technology by 5.1% in the 2nd quarter. Rhumbline Advisers now owns 42,430 shares of the company’s stock worth $419,000 after purchasing an additional 2,070 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Viant Technology by 659.4% in the 2nd quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock valued at $1,403,000 after purchasing an additional 123,635 shares during the period. Institutional investors and hedge funds own 11.38% of the company’s stock.

Viant Technology Price Performance

NASDAQ:DSP opened at $20.71 on Wednesday. The company has a market cap of $1.30 billion, a P/E ratio of 345.17 and a beta of 1.00. The firm’s fifty day moving average price is $15.52 and its two-hundred day moving average price is $12.21. Viant Technology has a one year low of $6.31 and a one year high of $21.74.

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.