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

by · The Markets Daily

DoubleVerify Holdings, Inc. (NYSE:DV – Get Free Report) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 7,620,000 shares, an increase of 49.1% from the August 31st total of 5,110,000 shares. Based on an average trading volume of 2,410,000 shares, the short-interest ratio is currently 3.2 days. Approximately 5.3% of the company’s stock are short sold.

DoubleVerify Trading Down 0.6 %

Shares of NYSE:DV traded down $0.10 during trading on Friday, reaching $17.16. The company had a trading volume of 2,423,476 shares, compared to its average volume of 2,379,065. DoubleVerify has a 12 month low of $16.81 and a 12 month high of $43.00. The stock has a market capitalization of $2.92 billion, a P/E ratio of 45.16, a price-to-earnings-growth ratio of 2.32 and a beta of 0.92. The company has a fifty day moving average of $18.87 and a two-hundred day moving average of $22.65.

DoubleVerify (NYSE:DV – Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $155.89 million for the quarter, compared to analyst estimates of $153.78 million. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The company’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 EPS. As a group, equities research analysts predict that DoubleVerify will post 0.3 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $20.02, for a total value of $35,315.28. Following the completion of the sale, the chief financial officer now owns 77,314 shares of the company’s stock, valued at approximately $1,547,826.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 5,292 shares of company stock worth $104,835. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

A number of large investors have recently bought and sold shares of DV. Oppenheimer Asset Management Inc. raised its stake in shares of DoubleVerify by 62.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 118,415 shares of the company’s stock valued at $4,163,000 after acquiring an additional 45,689 shares during the last quarter. Congress Asset Management Co. MA lifted its holdings 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 buying an additional 3,577,575 shares during the period. Norden Group LLC bought a new stake in shares of DoubleVerify in the 1st quarter worth approximately $15,297,000. Ranger Investment Management L.P. increased its stake in shares of DoubleVerify by 26.6% during the fourth quarter. Ranger Investment Management L.P. now owns 907,313 shares of the company’s stock valued at $33,371,000 after buying an additional 190,786 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of DoubleVerify by 1.4% during the first quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock valued at $552,974,000 after buying an additional 216,370 shares during the period. 97.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on DV. Needham & Company LLC reissued a “buy” rating and set a $33.00 target price on shares of DoubleVerify in a research report on Tuesday, September 17th. The Goldman Sachs Group reissued a “buy” rating and issued a $28.00 price objective on shares of DoubleVerify in a research report on Friday, September 13th. Macquarie reaffirmed an “outperform” rating and set a $25.00 target price on shares of DoubleVerify in a research report on Wednesday, July 31st. Truist Financial cut their price target on shares of DoubleVerify from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $40.00 price target on shares of DoubleVerify in a research report on Friday, June 14th. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.18.

Check Out Our Latest Stock Report on DV

DoubleVerify Company Profile

(Get Free Report)

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.

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