Fidelity Management & Research Co recently announced the acquisition of new stake in Viant Technology Inc. (NASDAQ:DSP). The institutional investor has increased its shareholding in the Technology company by 0.04% to 1.94 million shares with purchase of 810.0 shares. This fresh investment now brings its stake to 13.60% valued currently at $7.79 million. In addition, BlackRock Fund Advisors raised its holdings by 4216.0 to 0.74 million shares. And Geode Capital Management LLC has lifted its position by 0.41% or 928.0 shares – to 0.23 million shares.
With over 0.1 million Viant Technology Inc. (DSP) shares trading Monday and a closing price of $4.63 on the day, the dollar volume was approximately $0.49 million. The shares have shown a negative half year performance of -8.50% and its price on 01/23/23 gained nearly 1.31%. Currently, there are 61.54M common shares owned by the public and among those 14.22M shares have been available to trade.
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Insiders at the company have transacted a total of 13 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 795,147 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 71,980 shares.
The top 3 mutual fund holders in Viant Technology Inc. are Fidelity Advisor Series I -Growth, Northern Lights Fund Trust II – B, and Vanguard Total Stock Market Index. Fidelity Advisor Series I -Growth owns 1.35 million shares of the company’s stock, all valued at over $5.42 million. Northern Lights Fund Trust II – B sold -0.19 million shares to see its total holdings shrink to 0.77 million shares valued at over $3.11 million and representing 5.43% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.10% of the shares outstanding.
Shares of Viant Technology Inc. (NASDAQ: DSP) opened at $4.61, up $0.04 from a prior closing price of $4.57. However, the script later moved the day high at 4.6900, up 1.31%. The company’s stock has a 5-day price change of 4.04% and 11.03% over the past three months. DSP shares are trading 15.17% year to date (YTD), with the 12-month market performance down to -41.24% lower. It has a 12-month low price of $3.15 and touched a high of $8.64 over the same period. DSP has an average intraday trading volume of 114.67K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.85%, 18.72%, and -5.40% respectively.
Institutional ownership of Viant Technology Inc. (NASDAQ: DSP) shares accounts for 57.10% of the company’s 61.54M shares outstanding. Mutual fund holders own 30.16%, while other institutional holders and individual stakeholders account for 4.60% and 26.62% respectively.
It has a market capitalization of $275.58M. The earnings-per-share (ttm) stands at -$0.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.31% over the week and 5.54% over the month.
Analysts forecast that Viant Technology Inc. (DSP) will achieve an EPS of -$0.18 for the current quarter, $0.08 for the next quarter and -$0.24 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.21 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.2 a year ago. Earnings per share for the fiscal year are expected to decrease by -166.40%, and 36.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Viant Technology Inc. (DSP) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 3 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DSP, a number of firms have released research notes about the stock. Craig Hallum stated their Buy rating for the stock in a research note on October 18, 2022, with the firm’s price target at $7. UBS coverage for the Viant Technology Inc. (DSP) stock in a research note released on December 02, 2021 offered a Neutral rating with a price target of $11. JMP Securities was of a view on September 27, 2021 that the stock is Mkt Outperform, while Berenberg gave the stock Buy rating on September 22, 2021, issuing a price target of $20. BofA Securities on their part issued Buy rating on July 30, 2021.
