Quadrature Capital Ltd Trims Stock Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Quadrature Capital Ltd lessened its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 51.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,034 shares of the company’s stock after selling 16,129 shares during the quarter. Quadrature Capital Ltd’s holdings in DoubleVerify were worth $553,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DV. Vanguard Group Inc. raised its position in shares of DoubleVerify by 15.0% during the 4th quarter. Vanguard Group Inc. now owns 15,510,989 shares of the company’s stock valued at $570,494,000 after buying an additional 2,017,687 shares during the period. Norges Bank acquired a new stake in DoubleVerify in the 4th quarter valued at approximately $58,477,000. Brown Capital Management LLC increased its holdings in DoubleVerify by 128.1% in the 4th quarter. Brown Capital Management LLC now owns 2,236,450 shares of the company’s stock valued at $82,257,000 after purchasing an additional 1,256,195 shares during the last quarter. Granahan Investment Management LLC acquired a new stake in DoubleVerify in the 4th quarter valued at approximately $36,988,000. Finally, Riverbridge Partners LLC increased its holdings in DoubleVerify by 70.5% in the 4th quarter. Riverbridge Partners LLC now owns 2,319,975 shares of the company’s stock valued at $85,329,000 after purchasing an additional 959,514 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

DoubleVerify Price Performance

Shares of DV opened at $19.50 on Friday. DoubleVerify Holdings, Inc. has a 1-year low of $17.50 and a 1-year high of $43.00. The stock has a market cap of $3.35 billion, a PE ratio of 51.32, a price-to-earnings-growth ratio of 2.73 and a beta of 0.92. The firm has a fifty day moving average price of $22.64 and a 200 day moving average price of $31.67.

DoubleVerify (NYSE:DV) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. DoubleVerify had a net margin of 11.25% and a return on equity of 6.46%. The firm had revenue of $140.70 million during the quarter, compared to analysts’ expectations of $138.25 million. During the same period in the previous year, the company earned $0.07 earnings per share. DoubleVerify’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts expect that DoubleVerify Holdings, Inc. will post 0.33 EPS for the current fiscal year.

DoubleVerify declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 16th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at DoubleVerify

In other news, insider Andrew E. Grimmig sold 16,667 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $33.80, for a total value of $563,344.60. Following the completion of the sale, the insider now directly owns 39,468 shares of the company’s stock, valued at $1,334,018.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Andrew E. Grimmig sold 16,667 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $33.80, for a total value of $563,344.60. Following the completion of the sale, the insider now directly owns 39,468 shares of the company’s stock, valued at $1,334,018.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Julie Eddleman sold 900 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $33.05, for a total transaction of $29,745.00. Following the transaction, the insider now directly owns 140,702 shares of the company’s stock, valued at $4,650,201.10. The disclosure for this sale can be found here. Insiders sold a total of 35,243 shares of company stock valued at $1,161,232 over the last ninety days. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

DV has been the subject of several research reports. Macquarie upgraded shares of DoubleVerify from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Monday, March 11th. Needham & Company LLC dropped their target price on shares of DoubleVerify from $45.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Piper Sandler dropped their target price on shares of DoubleVerify from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Stifel Nicolaus dropped their price target on shares of DoubleVerify from $37.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, The Goldman Sachs Group dropped their price target on shares of DoubleVerify from $38.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.05.

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.