Viant Technology Inc. (NASDAQ:DSP) Short Interest Update

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

Analysts Set New Price Targets

DSP has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their target price on Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $18.00 in a report on Wednesday, November 13th. Needham & Company LLC boosted their price objective on shares of Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. 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, November 13th. Finally, Scotiabank began coverage on Viant Technology in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price target for the company. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $17.75.

Viant Technology Stock Performance

NASDAQ:DSP traded up $0.33 during mid-day trading on Monday, hitting $20.91. 241,906 shares of the company’s stock traded hands, compared to its average volume of 138,113. The company has a fifty day moving average of $15.13 and a 200 day moving average of $12.06. Viant Technology has a twelve month low of $6.31 and a twelve month high of $21.74. The company has a market capitalization of $1.31 billion, a P/E ratio of 349.83 and a beta of 1.00.

Insider Buying and Selling at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 3,084 shares of Viant Technology stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.05, for a total transaction of $34,078.20. Following the completion of the transaction, the chief financial officer now directly owns 538,434 shares of the company’s stock, valued at $5,949,695.70. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Max O. Valdes sold 7,500 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $20.51, for a total transaction of $153,825.00. Following the transaction, the director now owns 63,452 shares in the company, 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 worth $1,953,817 over the last 90 days. 28.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Viant Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Global Investments acquired a new position in shares of Viant Technology in the 2nd quarter valued at $111,000. Bank of New York Mellon Corp increased its holdings 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 purchasing an additional 5,601 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Viant Technology in the second quarter worth about $47,000. Rhumbline Advisers lifted its holdings in shares of 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 purchasing an additional 2,070 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Viant Technology by 659.4% in the second quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock valued at $1,403,000 after buying an additional 123,635 shares during the last quarter. 11.38% of the stock is owned by hedge funds and other institutional investors.

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.