Short Interest in DoubleVerify Holdings, Inc. (NYSE:DV) Declines By 11.1%

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

Analyst Ratings Changes

DV has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Macquarie reaffirmed an “outperform” rating and issued a $25.00 target price on shares of DoubleVerify in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 target price on shares of DoubleVerify in a research report on Tuesday. Barclays cut their target price on DoubleVerify from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $40.00 price target on shares of DoubleVerify in a research report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, DoubleVerify has an average rating of “Moderate Buy” and an average target price of $31.18.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $19.25, for a total value of $33,957.00. Following the transaction, the chief financial officer now directly owns 77,314 shares of the company’s stock, valued at approximately $1,488,294.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 5,292 shares of company stock valued at $104,835 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DV. Whittier Trust Co. bought a new position in shares of DoubleVerify in the first quarter worth $28,000. RiverPark Advisors LLC bought a new position in shares of DoubleVerify in the first quarter worth $54,000. CWM LLC grew its stake in shares of DoubleVerify by 212.5% in the second quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after purchasing an additional 1,900 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of DoubleVerify by 65.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock worth $55,000 after purchasing an additional 587 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of DoubleVerify by 72.3% in the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after purchasing an additional 1,742 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Price Performance

Shares of DV opened at $17.29 on Thursday. The company has a market cap of $2.97 billion, a P/E ratio of 45.50, a PEG ratio of 2.40 and a beta of 0.92. The stock has a fifty day moving average price of $19.25 and a 200 day moving average price of $23.34. DoubleVerify has a 12 month low of $16.93 and a 12 month high of $43.00.

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