DoubleVerify Holdings, Inc. (NYSE:DV) Short Interest Down 11.1% in August

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on DV. Morgan Stanley boosted their target price on DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $28.00 price objective on shares of DoubleVerify in a research report on Friday, September 13th. Barclays dropped their target price on shares of DoubleVerify from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Tuesday, July 16th. Truist Financial cut their price objective on DoubleVerify from $32.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Macquarie reaffirmed an “outperform” rating and set a $25.00 target price on shares of DoubleVerify in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.18.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $20.02, for a total transaction of $35,315.28. Following the completion of the sale, the chief financial officer now directly owns 77,314 shares of the company’s stock, valued at $1,547,826.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 5,292 shares of company stock valued at $104,835. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of DoubleVerify

A number of hedge funds have recently modified their holdings of DV. Whittier Trust Co. purchased a new stake in shares of DoubleVerify in the 1st quarter worth approximately $28,000. RiverPark Advisors LLC purchased a new stake in shares of DoubleVerify in the first quarter worth $54,000. CWM LLC increased its holdings in shares of DoubleVerify by 212.5% during the second quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after acquiring an additional 1,900 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in DoubleVerify by 65.3% in the 4th 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 position in DoubleVerify by 72.3% during the 2nd quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock valued at $81,000 after purchasing an additional 1,742 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Up 1.3 %

Shares of NYSE:DV traded up $0.23 on Wednesday, hitting $17.39. The company had a trading volume of 844,233 shares, compared to its average volume of 2,357,460. DoubleVerify has a 1 year low of $16.93 and a 1 year high of $43.00. The firm’s 50-day simple moving average is $19.31 and its two-hundred day simple moving average is $23.38. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 45.16, a P/E/G ratio of 2.40 and a beta of 0.92.

DoubleVerify (NYSE:DV) last announced its earnings results on Tuesday, July 30th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $153.78 million. During the same quarter in the prior year, the company earned $0.07 EPS. The business’s revenue was up 16.6% compared to the same quarter last year. Equities research analysts anticipate 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.