Viant Technology Inc. (NASDAQ:DSP) said its Chief Financial Officer, Larry Madden, sold a combined 17,541 shares of the company's Class A common stock across two trades executed on April 1 and April 2, 2026. The total proceeds from those sales were approximately $194,417.
The two transactions were carried out on consecutive days. On April 1, 2026, Madden sold 7,410 shares at a weighted average price of $11.2735; prices during that session ranged from $11.165 to $11.44. The following day, April 2, 2026, he sold 10,131 shares at a weighted average price of $10.9447, with trade prices between $10.63 and $11.12.
Those sales were completed pursuant to a 10b5-1 trading plan that Madden adopted on December 15, 2025. After the April transactions, Madden directly holds 600,324 shares of Viant Technology Inc.
Market movement around the stock has been notable: Viant shares have returned 26% over the prior six months but are down 9% year-to-date, according to the company data cited. Independent valuation analysis from InvestingPro was also referenced, indicating the stock appears undervalued on Fair Value calculations. The same analysis assigned Viant a financial health score described as "GREAT," with a rating of 3.16 out of 5.
The insider sales come against a backdrop of robust reported financial performance in Viant's fourth quarter of 2025. The company posted earnings per share of $0.22, topping analyst expectations of $0.13. Revenue for the quarter reached $110.1 million, well above the $63.09 million forecast.
Viant's adjusted EBITDA for the quarter was $24.7 million, with margins improving by 680 basis points year-over-year. That adjusted EBITDA figure exceeded the consensus estimate of $23.1 million. Contribution ex-traffic grew 19% on a reported basis and by 24% when excluding political advertising, a result that outpaced the company’s guidance range.
Market analysts responded to those results. D.A. Davidson reiterated a Buy rating on Viant while maintaining a $15.50 price target after reviewing the company’s performance. Raymond James also reacted favorably, raising its price target from $16 to $17 and keeping a Strong Buy rating; the firm noted the fourth-quarter results exceeded expectations across the company's key metrics and that first-quarter guidance was largely in line with projections.
Together, the insider transactions and the recent quarterly results supply investors with concrete data points on both executive activity and company fundamentals. The 10b5-1 plan that governed Madden's trades, the current ownership level following the disposals, and the recent analyst commentary remain material details for shareholders and market participants monitoring Viant's equity.
Key points
- Madden sold 17,541 shares across April 1-2, 2026, for roughly $194,417 in combined proceeds.
- The trades were executed under a 10b5-1 plan adopted December 15, 2025; Madden retains 600,324 shares after the sales.
- Viant reported stronger-than-expected Q4 2025 results - EPS $0.22 versus $0.13 expected, and revenue $110.1M versus $63.09M expected - prompting positive analyst responses and maintained or raised price targets.
Risks and uncertainties
- Interpretation of the insider sales may be constrained because the transactions were carried out under a 10b5-1 plan adopted on December 15, 2025.
- The stock has shown divergent moves over different time frames - a 26% rise over six months but a 9% decline year-to-date - indicating potential price volatility.