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 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.
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