Viant technology CFO Larry Madden sells $2.13m in stock

Larry Madden, the Chief Financial Officer of Viant Technology Inc. (NASDAQ:DSP), has sold a significant portion of his holdings in the company, according to a recent SEC filing. Over a series of transactions conducted between November 14 and November 18, Madden sold a total of 136,716 shares of Class A Common Stock. The shares were sold at prices ranging from $14.61 to $17.44 per share, resulting in a total transaction value of approximately $2.13 million.

Following these transactions, Madden now holds 392,634 shares directly. The sales were made under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks. This plan was established on May 9, 2024, providing Madden with a structured approach to these transactions.

In other recent news, Viant Technology reported a robust Q3 2024, with a 34% increase in revenue and a record $14.7 million in adjusted EBITDA. The company also announced its acquisition of IRIS.TV, a content identification platform set to enhance its Connected TV (CTV) targeting capabilities. The integration of IRIS_ID has already shown significant results, such as in Carl's Jr.'s campaign, which achieved a 300% lift in ad recall and a 152% increase in sales.

Looking ahead, Viant forecasts Q4 revenue between $82 million and $85 million and anticipates maintaining strong growth into 2025. The company's contribution ex-TAC was up by 21%, reaching $47.4 million. ViantAI, the new AI-driven advertising platform, is expected to democratize programmatic advertising.

Despite anticipating low-double-digit to low-teens growth in operating expenses for 2025 due to the acquisition, Viant remains optimistic about finishing 2024 strong and building momentum into 2025. These are among the recent developments shaping the company's trajectory.

InvestingPro Insights

The recent stock sales by Viant Technology Inc.'s CFO Larry Madden come at a time when the company's stock is showing remarkable performance. According to InvestingPro data, Viant has seen a significant 221.21% price return over the past year, with a particularly strong 48.27% return in the last month alone. This surge has brought the stock price to 99.27% of its 52-week high, indicating robust investor confidence.

InvestingPro Tips highlight that Viant holds more cash than debt on its balance sheet, suggesting a strong financial position. This could be reassuring for investors concerned about the CFO's stock sales. Additionally, analysts expect net income to grow this year, with the company already profitable over the last twelve months.

However, it's worth noting that Viant is trading at a high P/E ratio of 225.06, which may raise questions about valuation. The PEG ratio of 1.77 for the last twelve months as of Q3 2024 also suggests the stock might be trading at a premium relative to its earnings growth.

For investors seeking a more comprehensive analysis, InvestingPro offers 16 additional tips for Viant Technology Inc., providing a deeper understanding of the company's financial health and market position.

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