Renaissance Technologies LLC Decreases Stock Position in Viant Technology Inc. (NASDAQ:DSP)

Renaissance Technologies LLC cut its stake in Viant Technology Inc. (NASDAQ:DSP) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 403,300 shares of the company’s stock after selling 21,900 shares during the quarter. Renaissance Technologies LLC owned about 0.64% of Viant Technology worth $3,981,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. lifted its position in shares of Viant Technology by 5,286.9% during the second quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock worth $669,000 after purchasing an additional 66,509 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in Viant Technology by 39.0% during 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 in the last quarter. Acadian Asset Management LLC boosted its position in 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 during the period. ClariVest Asset Management LLC bought a new position in Viant Technology in the 2nd quarter worth about $1,387,000. Finally, GSA Capital Partners LLP increased its position in shares of Viant Technology by 4.4% during the first 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 during the period. 11.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Viant Technology

In related news, CFO Larry Madden sold 3,084 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.05, for a total value of $34,078.20. Following the completion of the sale, the chief financial officer now owns 538,434 shares of the company’s stock, valued at $5,949,695.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 28.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Viant Technology Trading Up 1.0 %

Shares of DSP opened at $11.01 on Friday. The firm has a market cap of $695.83 million, a P/E ratio of -91.75 and a beta of 0.74. Viant Technology Inc. has a 12 month low of $4.98 and a 12 month high of $12.36. The stock’s 50 day moving average is $10.71 and its two-hundred day moving average is $10.02.

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

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.