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

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

Insider Activity

In other news, Director Max O. Valdes sold 7,500 shares of the firm’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 sale, the director now directly owns 63,452 shares in the company, valued at approximately $1,301,400.52. This trade represents a 10.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Larry Madden sold 14,284 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.76, for a total transaction of $267,967.84. Following the completion of the sale, the chief financial officer now owns 358,624 shares in the company, valued at approximately $6,727,786.24. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,352 shares of company stock worth $1,030,720. Corporate insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System purchased a new position in shares of Viant Technology during the 4th quarter valued at $27,000. Summit Investment Advisors Inc. grew its position in shares of Viant Technology by 83.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company’s stock valued at $30,000 after purchasing an additional 728 shares in the last quarter. FMR LLC grew 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 purchasing an additional 3,123 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Viant Technology during the 4th quarter valued at $80,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Viant Technology during the 4th quarter valued at $88,000. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

Viant Technology Trading Down 3.9 %

NASDAQ:DSP opened at $22.77 on Tuesday. The firm’s 50 day moving average is $20.62 and its 200 day moving average is $15.41. The stock has a market capitalization of $1.43 billion, a PE ratio of 379.55 and a beta of 1.01. Viant Technology has a 12 month low of $7.77 and a 12 month high of $26.33.

Analyst Upgrades and Downgrades

DSP has been the topic of several recent research reports. Canaccord Genuity Group lifted their target price on shares of Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. JMP Securities raised their target price on Viant Technology from $17.00 to $24.00 and gave the company a “market outperform” rating in a research note on Monday, January 27th. Craig Hallum raised their target price on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and lifted their price target for the company from $13.00 to $18.00 in a research note on Wednesday, November 13th. Finally, Scotiabank initiated coverage on Viant Technology in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $20.29.

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.