By Viant Technology Inc. (NASDAQ:DSP) Chief Financial Officer Larry Madden has recently sold a portion of his holdings in the company, according to the latest SEC filings. Madden completed a series of transactions involving the sale of Class A Common Stock, totaling over $77,000.
The sales occurred on three separate dates, with the first transaction on September 20, 2024, where 1,116 shares were sold at a weighted average price of $11.0177. The following sale took place on September 23, with 3,084 shares offloaded at an average price of $11.0511. Finally, on September 24, Madden sold 2,776 shares at a weighted average price of $11.1525. The price range for these sales spanned from $11.00 to $11.25, indicating a series of transactions at varying prices within this range.
After these sales, the CFO’s ownership in Viant Technology stands significantly reduced. However, it’s noteworthy that all reported transactions were made pursuant to a Rule 10b5-1 trading plan, which was established on May 9, 2024. This plan allows corporate insiders to sell shares over a predetermined period of time, providing a structured and compliant way to divest holdings.
Viant Technology Inc. specializes in computer programming, data processing, and other related services, and is incorporated in Delaware. The company’s business address and Madden’s reporting address are both located at 2722 Michelson Drive, Suite 100, Irvine, CA.
Investors often monitor insider sales as they can provide insights into an insider’s view of the company’s value. While the reasons for insider sales can vary and are not necessarily indicative of the company’s future performance, they are a piece of the puzzle when assessing a company’s health and prospects.
In other recent news, Viant Technology Inc. reported a significant second quarter in 2024 during their earnings call. The company noted a 15% increase in revenue year-over-year and a 23% growth in contribution excluding traffic acquisition costs (ex-TAC). A key component of their success is the rebranding of their AI Suite to ViantAI, which significantly contributed to a record advertiser spend.
Viant Technology also emphasized its growth in Connected TV (CTV) and streaming audio channels. Despite Google (NASDAQ:GOOGL)’s decision to continue using cookies, Viant remains steadfast in its strategy, focusing on CTV and alternative identifiers to drive market growth. The company’s Household ID technology and direct access program in CTV are seen as significant differentiators in the market.
Looking ahead, Viant Technology anticipates continued growth in the third quarter of 2024. The company plans to invest in engineering, product, and sales, expecting low double-digit growth in overhead expenses in 2025. While acknowledging a lack of awareness among political advertisers as a challenge, Viant remains optimistic about its leadership in CTV and streaming audio, along with the adoption of ViantAI, driving market share gains and overall growth.
InvestingPro Insights
In light of the recent insider sales at Viant Technology Inc. (NASDAQ:DSP), investors may be seeking additional context to gauge the company’s financial health and future prospects. According to InvestingPro data, Viant Technology boasts a market capitalization of $705.3 million, reflecting its standing in the market. Despite a challenging P/E ratio, which currently stands at -224, the company has demonstrated a robust revenue growth of 20.25% over the last twelve months as of Q2 2024. This growth is complemented by a significant EBITDA increase of 131.1% over the same period, signaling potential efficiency gains and operational improvements.
InvestingPro Tips provide further insights that may interest shareholders and potential investors. Viant Technology holds more cash than debt on its balance sheet, which is a positive sign of the company’s liquidity and financial stability. Additionally, analysts have revised their earnings upwards for the upcoming period, reflecting a positive sentiment regarding the company’s earnings potential. It’s also noteworthy that the company is expected to become profitable this year, which could be a pivotal turning point for investor confidence.
For those looking to delve deeper into Viant Technology’s financials and future outlook, there are over 10 additional InvestingPro Tips available at InvestingPro. These tips provide a comprehensive analysis that can help investors make more informed decisions.
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