Key Points
- CFO Larry Madden sold 14,602 Viant Technology shares at an average price of $12.10, worth $176,684.20, reducing his direct ownership by 4.09% to 342,711 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Viant and a selling stockholder canceled a planned offering of 8.5 million shares because of market conditions and volatility, avoiding potential equity dilution and additional selling pressure.
- DSP shares opened at $11.88, with a market capitalization of about $789.7 million. Analysts maintain a consensus “Buy” rating and an average price target of $18.33.
Viant Technology Inc. (NASDAQ:DSP - Get Free Report) CFO Larry Madden sold 14,602 shares of the company's stock in a transaction on Friday, September 18th. The shares were sold at an average price of $12.10, for a total value of $176,684.20. Following the sale, the chief financial officer directly owned 342,711 shares of the company's stock, valued at approximately $4,146,803.10. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Larry Madden also recently made the following trade(s):
- On Wednesday, September 16th, Larry Madden sold 17,042 shares of Viant Technology stock. The shares were sold at an average price of $12.52, for a total value of $213,365.84.
- On Tuesday, August 11th, Larry Madden sold 27,451 shares of Viant Technology stock. The stock was sold at an average price of $13.06, for a total value of $358,510.06.
- On Thursday, July 23rd, Larry Madden sold 2,814 shares of Viant Technology stock. The stock was sold at an average price of $10.69, for a total value of $30,081.66.
- On Wednesday, July 8th, Larry Madden sold 11,273 shares of Viant Technology stock. The stock was sold at an average price of $12.69, for a total value of $143,054.37.
- On Tuesday, July 7th, Larry Madden sold 9,149 shares of Viant Technology stock. The shares were sold at an average price of $12.86, for a total transaction of $117,656.14.
- On Monday, July 6th, Larry Madden sold 10,097 shares of Viant Technology stock. The stock was sold at an average price of $12.78, for a total transaction of $129,039.66.
Viant Technology Price Performance
Shares of DSP opened at $11.88 on Friday. The company has a 50-day moving average of $12.42 and a two-hundred day moving average of $11.73. The stock has a market cap of $789.66 million, a price-to-earnings ratio of 38.32 and a beta of 1.13. Viant Technology Inc. has a one year low of $8.11 and a one year high of $14.80.
Institutional Trading of Viant Technology
A number of hedge funds have recently made changes to their positions in DSP. Squarepoint Ops LLC boosted its holdings in shares of Viant Technology by 8.8% during the second quarter. Squarepoint Ops LLC now owns 39,568 shares of the company's stock worth $501,000 after purchasing an additional 3,207 shares during the period. Globeflex Capital L P purchased a new position in Viant Technology during the second quarter valued at approximately $1,316,000. Bank of New York Mellon Corp acquired a new position in Viant Technology in the 2nd quarter valued at approximately $609,000. Versant Capital Management Inc increased its stake in Viant Technology by 202.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,772 shares of the company's stock valued at $35,000 after buying an additional 1,855 shares during the period. Finally, Quantinno Capital Management LP lifted its position in Viant Technology by 81.6% in the 1st quarter. Quantinno Capital Management LP now owns 62,409 shares of the company's stock worth $699,000 after buying an additional 28,052 shares in the last quarter. 11.38% of the stock is owned by hedge funds and other institutional investors.
Viant Technology News Roundup
Here are the key news stories impacting Viant Technology this week:
- Positive Sentiment: Viant Technology and a selling stockholder abandoned the planned sale of 8.5 million shares, citing market conditions and volatility. Avoiding the offering limits potential equity dilution and reduces the risk of additional shares entering the market. Viant Technology cancels planned stock offering citing market conditions
- Positive Sentiment: The withdrawal reverses concerns triggered earlier in the week when Viant reported the launch of the share offering, which had contributed to weakness in the stock. Viant withdraws planned equity offering amid market volatility
- Neutral Sentiment: CFO Larry Madden disclosed two sales totaling 31,644 shares at average prices of $12.10 and $12.52. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, reducing their usefulness as a signal of management’s current outlook. He retained 342,711 shares after the transactions. Viant Technology CFO Form 4 filing
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. Rosenblatt Securities raised their price objective on shares of Viant Technology from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Weiss Ratings raised shares of Viant Technology from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. UBS Group increased their target price on Viant Technology from $17.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Wall Street Zen raised Viant Technology from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, DA Davidson lifted their price target on Viant Technology from $16.50 to $17.50 and gave the company a "buy" rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Viant Technology currently has an average rating of "Buy" and a consensus target price of $18.33.
Read Our Latest Stock Analysis on DSP
About Viant Technology
(
Get Free Report)
Viant Technology Inc is an advertising technology company that provides a demand-side platform (DSP) for planning, buying and measuring digital advertising campaigns. Its platform enables advertisers and agencies to purchase programmatic advertising across channels, including connected television, mobile, desktop, audio and other digital media.
The company's platform, Adelphic, is designed to support omnichannel campaign management, audience targeting, media planning, identity resolution and performance measurement.
Further Reading

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