Short Interest in Viant Technology Inc. (NASDAQ:DSP) Drops By 6.1%

Viant Technology Inc. (NASDAQ:DSP) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 613,900 shares, a decrease of 6.1% from the August 31st total of 653,500 shares. Currently, 4.3% of the company’s stock are sold short. Based on an average daily trading volume, of 117,500 shares, the short-interest ratio is presently 5.2 days.

Insider Transactions at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 3,084 shares of the company’s 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 sale, the chief financial officer now directly owns 538,434 shares of the company’s stock, valued at $5,949,695.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 28.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Viant Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. grew its holdings in shares of Viant Technology by 5,286.9% during the 2nd quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock worth $669,000 after purchasing an additional 66,509 shares in the last quarter. Quadrature Capital Ltd increased its holdings in Viant Technology by 39.0% in the 1st quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock valued at $783,000 after buying an additional 20,668 shares during the period. Acadian Asset Management LLC raised its position 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 buying an additional 123,635 shares in the last quarter. ClariVest Asset Management LLC bought a new stake in shares of Viant Technology during the 2nd quarter worth approximately $1,387,000. Finally, GSA Capital Partners LLP boosted its position in shares of Viant Technology by 4.4% during the 1st quarter. GSA Capital Partners LLP now owns 40,430 shares of the company’s stock worth $431,000 after acquiring an additional 1,699 shares in the last quarter. 11.38% of the stock is owned by institutional investors and hedge funds.

Viant Technology Stock Performance

Shares of Viant Technology stock opened at $11.01 on Monday. Viant Technology has a 52-week low of $4.98 and a 52-week high of $12.36. The stock has a market cap of $699.08 million, a PE ratio of -91.75 and a beta of 0.74. The firm has a 50-day moving average of $10.71 and a 200-day moving average of $10.02.

Viant Technology (NASDAQ:DSP) last announced its earnings results on Monday, August 12th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Viant Technology had a negative return on equity of 7.39% and a negative net margin of 0.33%. The business had revenue of $41.56 million for the quarter, compared to the consensus estimate of $41.10 million. Equities research analysts predict that Viant Technology will post -0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on DSP. Needham & Company LLC restated a “buy” rating and set a $12.00 target price on shares of Viant Technology in a research note on Tuesday, August 13th. Canaccord Genuity Group restated a “hold” rating and set a $11.00 price objective on shares of Viant Technology in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.80.

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.