DoubleVerify (NYSE:DV) Hits New 12-Month Low Following Insider Selling

DoubleVerify Holdings, Inc. (NYSE:DV)’s share price hit a new 52-week low on Wednesday after an insider sold shares in the company. The company traded as low as $16.49 and last traded at $16.60, with a volume of 724734 shares trading hands. The stock had previously closed at $16.83.

Specifically, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $17.21, for a total transaction of $30,358.44. Following the completion of the transaction, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,404,301.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $16.92, for a total transaction of $29,846.88. Following the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at approximately $1,380,638.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

DV has been the subject of several research reports. Morgan Stanley boosted their target price on shares of DoubleVerify from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Macquarie reissued an “outperform” rating and issued a $25.00 price objective on shares of DoubleVerify in a research note on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 target price on shares of DoubleVerify in a research report on Friday, June 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $28.00 price target on shares of DoubleVerify in a research report on Friday, September 13th. Finally, Barclays cut their price objective on shares of DoubleVerify from $30.00 to $27.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. One 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. Based on data from MarketBeat, DoubleVerify currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.18.

DoubleVerify Stock Performance

The company has a market cap of $2.85 billion, a PE ratio of 44.30, a PEG ratio of 2.32 and a beta of 0.90. The stock’s 50 day moving average price is $18.38 and its 200-day moving average price is $21.76.

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

Institutional Investors Weigh In On DoubleVerify

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new position in shares of DoubleVerify in the second quarter worth approximately $73,268,000. Congress Asset Management Co. MA increased 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 purchasing an additional 3,577,575 shares in the last quarter. Burgundy Asset Management Ltd. purchased a new position in shares of DoubleVerify in the second quarter worth $54,099,000. Mackenzie Financial Corp bought a new position in shares of DoubleVerify during the second quarter valued at $53,015,000. Finally, Vanguard Group Inc. boosted its position in shares of DoubleVerify by 15.0% during the fourth 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 last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

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.