Larry Madden, the Chief Financial Officer of Viant Technology Inc. (NASDAQ:DSP), has reported the sale of 14,284 shares of the company's Class A common stock. The company's stock has shown remarkable momentum, delivering a 195% return over the past year and currently trading near its 52-week high of $20.25. The shares were sold on December 4, 2024, at a weighted average price of $19.511 per share, amounting to a total transaction value of $278,695. Following the sale, Madden retains ownership of 378,350 shares in the company. The transactions were executed under a pre-established Rule 10b5-1 trading plan dated May 9, 2024. The shares were sold in multiple transactions, with prices ranging from $19.12 to $19.745. With a market capitalization of $1.29 billion and an overall financial health score rated as "GREAT" by InvestingPro, Viant Technology continues to demonstrate strong fundamentals despite trading at elevated multiples.
In other recent news, Viant Technology Inc. has reported strong third-quarter results, with a 34% increase in revenue and a record $14.7 million in adjusted EBITDA. The company has also recently acquired IRIS.TV, a leading global Connected TV (CTV) content data platform, to enhance its targeting capabilities. Canaccord Genuity (TSX:CF) has maintained a Buy rating on Viant Technology, increasing the price target to $22.00, following a significant surge in the company's share value.
Viant Technology's growth has been attributed to the robust performance of its CTV platform spending and the positive market response to the introduction of ViantAI. The acquisition of IRIS.TV is expected to enable more precise targeting capabilities and ensure privacy compliance. The company anticipates ViantAI will propel market share expansion by enhancing Return on Advertising Spend and operational efficiencies for advertisers.
Viant Technology continues to project strong growth, forecasting Q4 revenue to be between $82 million and $85 million. However, the company anticipates a low-double-digit to low-teens growth in operating expenses for 2025 due to the acquisition adding overhead. These are among the recent developments that are shaping the future of Viant Technology.
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