DoubleVerify Holdings, Inc. (NYSE:DV) Short Interest Update

DoubleVerify Holdings, Inc. (NYSE:DV) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 5,110,000 shares, a decline of 11.1% from the August 15th total of 5,750,000 shares. Based on an average daily volume of 2,340,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 3.6% of the company’s stock are short sold.

Insider Transactions at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $19.25, for a total transaction of $33,957.00. Following the completion of the transaction, the chief financial officer now directly owns 77,314 shares of the company’s stock, valued at $1,488,294.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 5,292 shares of company stock worth $104,835 over the last quarter. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoubleVerify

Several institutional investors have recently added to or reduced their stakes in DV. Vanguard Group Inc. boosted its holdings in shares of DoubleVerify by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock worth $552,974,000 after purchasing an additional 216,370 shares during the period. Capital World Investors raised its stake in shares of DoubleVerify by 6.0% in the fourth quarter. Capital World Investors now owns 5,283,932 shares of the company’s stock valued at $194,343,000 after acquiring an additional 301,011 shares during the period. Congress Asset Management Co. MA lifted its holdings in shares of DoubleVerify by 813.2% in the 1st quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock worth $141,255,000 after acquiring an additional 3,577,575 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of DoubleVerify during the 2nd quarter worth about $73,268,000. Finally, Bank of New York Mellon Corp grew its holdings in DoubleVerify by 0.8% during the 1st quarter. Bank of New York Mellon Corp now owns 3,713,684 shares of the company’s stock valued at $130,573,000 after purchasing an additional 31,000 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DV. Morgan Stanley boosted their price target on DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 target price on shares of DoubleVerify in a report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price target on shares of DoubleVerify in a research note on Friday, June 14th. The Goldman Sachs Group restated a “buy” rating and issued a $28.00 price objective on shares of DoubleVerify in a research note on Friday, September 13th. Finally, Macquarie reiterated an “outperform” rating and set a $25.00 target price on shares of DoubleVerify in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.18.

DoubleVerify Trading Up 1.3 %

Shares of NYSE:DV traded up $0.23 during midday trading on Wednesday, reaching $17.39. 844,233 shares of the company were exchanged, compared to its average volume of 2,357,460. The stock has a market cap of $2.99 billion, a PE ratio of 45.16, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92. The business’s fifty day moving average is $19.31 and its two-hundred day moving average is $23.38. DoubleVerify has a one year low of $16.93 and a one year high of $43.00.

DoubleVerify (NYSE:DV) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. The business had revenue of $155.89 million during the quarter, compared to the consensus estimate of $153.78 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The business’s revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts expect that DoubleVerify will post 0.3 EPS for the current year.

About DoubleVerify

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and data analytics in the United States and internationally. The company provides solutions to advertisers that enable advertisers to increase the effectiveness and quality and return on their digital advertising investments.