Max O. Valdes, a director at Viant Technology Inc. (NASDAQ:DSP), has reported the sale of 7,500 shares of the company's Class A common stock. The timing of this insider sale comes as the stock trades near its 52-week high of $21.07, having delivered an impressive year-to-date return of ~200%. The shares were sold at a weighted average price of $20.51, resulting in a total transaction value of $153,828. Following this sale, Valdes holds 63,452 shares of the company. The shares were sold in multiple transactions at prices ranging from $20.46 to $20.60. According to InvestingPro analysis, the stock is currently showing overbought signals, with multiple valuation metrics at elevated levels. Subscribers can access 15+ additional real-time insights and comprehensive valuation analysis through InvestingPro's detailed research reports.
In other recent news, Viant Technology has reported impressive third-quarter results, indicating a strong financial position with a 34% increase in revenue and a record $14.7 million in adjusted EBITDA. The company's recent acquisition of IRIS.TV, a global CTV content data platform, is expected to enhance its precise targeting capabilities, ensuring privacy compliance. Canaccord Genuity (TSX:CF) has maintained a Buy rating on Viant Technology and increased the price target to $22.00, reflecting the company's robust performance.
The launch of ViantAI, an AI-driven advertising platform, has been positively received, with 500 early access sign-ups since its introduction in mid-September. Viant's management team anticipates this platform will foster market share expansion and improve operational efficiencies.
The company also added over 30 new customers in Q3, each generating an average of $400,000 in contribution excluding Traffic Acquisition Costs (ex-TAC). Viant Technology projects Q4 revenue to be between $82 million and $85 million, maintaining strong growth into 2025. However, the company expects a low-double-digit to low-teens growth in operating expenses for 2025 due to the acquisition adding overhead. These developments underscore Viant Technology's continued growth in the dynamic advertising technology market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.