DoubleVerify Holdings, Inc. (NYSE:DV) Sees Significant Increase in Short Interest

DoubleVerify Holdings, Inc. (NYSE:DV) saw 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. Currently, 7.4% of the company’s stock are sold short. Based on an average trading volume of 2,350,000 shares, the days-to-cover ratio is currently 4.5 days.

DoubleVerify Price Performance

Shares of NYSE DV traded down $0.19 during midday trading on Wednesday, reaching $17.11. 1,776,564 shares of the company traded hands, compared to its average volume of 2,352,688. DoubleVerify has a 52 week low of $16.11 and a 52 week high of $43.00. The stock has a 50-day moving average price of $17.73 and a 200 day moving average price of $20.03. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 48.71, a PEG ratio of 2.21 and a beta of 0.90.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial decreased their price target on shares of DoubleVerify from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Barclays decreased their price target on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Piper Sandler decreased their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JMP Securities decreased their price objective on shares of DoubleVerify from $34.00 to $33.00 and set a “market outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company began coverage on shares of DoubleVerify in a report on Monday. They issued an “underweight” rating and a $14.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.47.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $17.28, for a total value of $30,481.92. Following the completion of the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,410,013.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 8,820 shares of company stock valued at $153,591 over the last 90 days. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoubleVerify

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. purchased a new position in DoubleVerify in the 2nd quarter worth about $73,268,000. Burgundy Asset Management Ltd. purchased a new position in DoubleVerify during the 2nd quarter valued at about $54,099,000. Mackenzie Financial Corp purchased a new position in DoubleVerify during the 2nd quarter valued at about $53,015,000. Jericho Capital Asset Management L.P. purchased a new position in DoubleVerify during the 1st quarter valued at about $53,584,000. Finally, Capital International Investors grew its stake in 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 acquiring an additional 859,922 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

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.