Covestor Ltd Cuts Position in Viant Technology Inc. (NASDAQ:DSP)

Covestor Ltd trimmed its holdings in shares of Viant Technology Inc. (NASDAQ:DSP) by 19.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,735 shares of the company’s stock after selling 1,117 shares during the quarter. Covestor Ltd’s holdings in Viant Technology were worth $90,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Renaissance Technologies LLC boosted its stake in Viant Technology by 29.2% in the fourth quarter. Renaissance Technologies LLC now owns 471,200 shares of the company’s stock valued at $8,948,000 after acquiring an additional 106,400 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Viant Technology by 353.7% in the 4th quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company’s stock worth $8,323,000 after purchasing an additional 341,684 shares during the period. Geode Capital Management LLC lifted its stake in Viant Technology by 1.9% in the third quarter. Geode Capital Management LLC now owns 365,339 shares of the company’s stock valued at $4,045,000 after purchasing an additional 6,803 shares during the last quarter. State Street Corp grew its holdings in Viant Technology by 0.6% during the third quarter. State Street Corp now owns 283,365 shares of the company’s stock valued at $3,137,000 after purchasing an additional 1,722 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Viant Technology by 189.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 261,221 shares of the company’s stock worth $4,961,000 after buying an additional 171,047 shares during the last quarter. 11.38% of the stock is currently owned by institutional investors.

Viant Technology Stock Down 2.0 %

Shares of DSP opened at $12.99 on Monday. The business’s 50-day moving average price is $16.60 and its 200-day moving average price is $16.66. Viant Technology Inc. has a twelve month low of $7.77 and a twelve month high of $26.33. The stock has a market cap of $819.33 million, a PE ratio of 216.54 and a beta of 1.21.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DSP shares. JMP Securities increased their price target on Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Monday, January 27th. Raymond James cut their target price on shares of Viant Technology from $27.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $21.00 price target on shares of Viant Technology in a research report on Wednesday, April 2nd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $21.14.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 14,284 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $23.12, for a total value of $330,246.08. Following the sale, the chief financial officer now owns 344,340 shares of the company’s stock, valued at $7,961,140.80. This trade represents a 3.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 28.80% of the stock is currently owned by insiders.

Viant Technology 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.