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

DoubleVerify Holdings, Inc. (NYSE:DV) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 10,500,000 shares, a growth of 8.9% from the September 30th total of 9,640,000 shares. Based on an average daily volume of 2,350,000 shares, the days-to-cover ratio is currently 4.5 days. Approximately 7.4% of the company’s stock are short sold.

Wall Street Analyst Weigh In

DV has been the subject of several research reports. The Goldman Sachs Group decreased their price objective on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Macquarie lowered their price target on shares of DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Wells Fargo & Company started coverage on shares of DoubleVerify in a report on Monday. They issued an “underweight” rating and a $14.00 price objective for the company. Piper Sandler lowered their target price on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Barclays cut their price target on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.47.

Insiders Place Their Bets

In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $16.41, for a total transaction of $28,947.24. Following the completion of the sale, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,339,023.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 8,820 shares of company stock worth $153,591. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DV. Assenagon Asset Management S.A. acquired a new position in shares of DoubleVerify during the 2nd quarter valued at about $73,268,000. Burgundy Asset Management Ltd. acquired a new position in DoubleVerify in the 2nd quarter valued at about $54,099,000. Mackenzie Financial Corp purchased a new stake in shares of DoubleVerify in the 2nd quarter valued at approximately $53,015,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of DoubleVerify during the 1st quarter worth approximately $53,584,000. Finally, Capital International Investors raised its position in shares of DoubleVerify by 104.7% during the 1st quarter. Capital International Investors now owns 1,681,385 shares of the company’s stock valued at $59,117,000 after buying an additional 859,922 shares during the period. 97.29% of the stock is owned by hedge funds and other institutional investors.

DoubleVerify Trading Down 0.4 %

DV stock traded down $0.06 during midday trading on Thursday, reaching $17.05. The stock had a trading volume of 2,835,067 shares, compared to its average volume of 2,354,975. DoubleVerify has a 52-week low of $16.11 and a 52-week high of $43.00. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 48.71, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90. The company’s fifty day simple moving average is $17.64 and its 200 day simple moving average is $19.99.

DoubleVerify (NYSE:DV) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $155.89 million for the quarter, compared to analyst estimates of $153.78 million. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. DoubleVerify’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 earnings per share. Sell-side analysts predict that DoubleVerify will post 0.3 EPS for the current year.

DoubleVerify Company Profile

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.