Viant Technology Inc. (NASDAQ:DSP) Short Interest Up 7.1% in December

Viant Technology Inc. (NASDAQ:DSP) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 465,200 shares, a growth of 7.1% from the November 30th total of 434,400 shares. Based on an average trading volume of 173,600 shares, the days-to-cover ratio is presently 2.7 days. Currently, 3.2% of the shares of the company are sold short.

Viant Technology Price Performance

NASDAQ:DSP opened at $18.71 on Thursday. Viant Technology has a 1-year low of $6.39 and a 1-year high of $21.74. The business has a 50 day moving average of $17.14 and a 200 day moving average of $12.93. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 311.89 and a beta of 1.00.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DSP. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and upped their price target for the stock from $13.00 to $18.00 in a report on Wednesday, November 13th. Scotiabank assumed coverage on Viant Technology in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 target price on the stock. Needham & Company LLC raised their price target on Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. JMP Securities boosted their price objective on Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Finally, Craig Hallum raised their target price on shares of Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $17.75.

Insider Transactions at Viant Technology

In related news, CFO Larry Madden sold 2,768 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $11.23, for a total transaction of $31,084.64. Following the sale, the chief financial officer now directly owns 529,848 shares in the company, valued at approximately $5,950,193.04. The trade was a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Max O. Valdes sold 7,500 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $20.51, for a total value of $153,825.00. Following the completion of the transaction, the director now owns 63,452 shares of the company’s stock, valued at approximately $1,301,400.52. This represents a 10.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,750 shares of company stock worth $1,907,441. 28.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Viant Technology

A number of institutional investors have recently made changes to their positions in DSP. Bank of New York Mellon Corp raised its position in Viant Technology by 14.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,571 shares of the company’s stock worth $430,000 after purchasing an additional 5,601 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Viant Technology during the second quarter valued at about $47,000. Rhumbline Advisers increased its holdings in shares of Viant Technology by 5.1% in the second quarter. Rhumbline Advisers now owns 42,430 shares of the company’s stock worth $419,000 after buying an additional 2,070 shares during the period. Acadian Asset Management LLC lifted its stake in shares of 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 acquiring an additional 123,635 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Viant Technology during the 2nd quarter valued at about $84,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.