DoubleVerify Holdings, Inc. (NYSE:DV) Short Interest Update

DoubleVerify Holdings, Inc. (NYSE:DV) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 5,910,000 shares, an increase of 27.9% from the May 15th total of 4,620,000 shares. Currently, 4.2% of the company’s shares are short sold. Based on an average daily volume of 2,670,000 shares, the days-to-cover ratio is presently 2.2 days.

Insider Transactions at DoubleVerify

In other news, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $33.05, for a total value of $29,745.00. Following the transaction, the insider now directly owns 140,702 shares in the company, valued at approximately $4,650,201.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Julie Eddleman sold 900 shares of the firm’s 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 sale, the insider now directly owns 140,702 shares in the company, valued at approximately $4,650,201.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Nicola T. Allais sold 5,292 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $30.86, for a total value of $163,311.12. Following the sale, the chief financial officer now owns 73,030 shares in the company, valued at $2,253,705.80. The disclosure for this sale can be found here. Insiders have sold a total of 35,243 shares of company stock worth $1,161,232 in the last three months. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Congress Asset Management Co. MA increased its position in 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 during the last quarter. Vanguard Group Inc. boosted its stake 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 worth $570,494,000 after acquiring an additional 2,017,687 shares in the last quarter. Norges Bank bought a new stake in shares of DoubleVerify during the 4th quarter worth about $58,477,000. Jericho Capital Asset Management L.P. bought a new stake in shares of DoubleVerify during the 1st quarter worth about $53,584,000. Finally, Brown Capital Management LLC boosted its stake in shares of DoubleVerify by 128.1% during the 4th quarter. Brown Capital Management LLC now owns 2,236,450 shares of the company’s stock worth $82,257,000 after acquiring an additional 1,256,195 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DV shares. Barclays lowered their price objective on DoubleVerify from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Needham & Company LLC decreased their target price on DoubleVerify from $45.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Macquarie upgraded DoubleVerify from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a research report on Monday, March 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 target price on shares of DoubleVerify in a research report on Friday. Finally, Canaccord Genuity Group decreased their target price on DoubleVerify from $48.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, DoubleVerify has a consensus rating of “Moderate Buy” and an average target price of $35.05.

DoubleVerify Price Performance

Shares of DV traded up $0.38 during midday trading on Monday, reaching $19.08. The stock had a trading volume of 2,061,663 shares, compared to its average volume of 2,320,807. DoubleVerify has a 52 week low of $17.50 and a 52 week high of $43.00. The firm’s 50 day moving average price is $24.04 and its 200-day moving average price is $32.16. The company has a market capitalization of $3.28 billion, a P/E ratio of 49.21, a P/E/G ratio of 2.70 and a beta of 0.93.

DoubleVerify (NYSE:DV) last issued its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $140.70 million for the quarter, compared to analysts’ expectations of $138.25 million. DoubleVerify had a return on equity of 6.46% and a net margin of 11.25%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 EPS. On average, equities analysts forecast that DoubleVerify will post 0.33 earnings per share for the current year.

DoubleVerify declared that its board has authorized a stock repurchase plan on Thursday, May 16th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.