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

DoubleVerify Holdings, Inc. (NYSE:DV) was the recipient of a large growth in short interest during the month of 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. Based on an average daily trading volume, of 2,350,000 shares, the days-to-cover ratio is currently 4.5 days. Currently, 7.4% of the shares of the company are sold short.

DoubleVerify Stock Down 1.1 %

DV stock traded down $0.19 during trading on Wednesday, hitting $17.11. The company had a trading volume of 1,776,564 shares, compared to its average volume of 2,352,688. The firm has a 50-day moving average price of $17.73 and a 200-day moving average price of $20.03. DoubleVerify has a 12 month low of $16.11 and a 12 month high of $43.00. The stock 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 released its earnings results on Tuesday, July 30th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $155.89 million during the quarter, compared to the consensus estimate of $153.78 million. DoubleVerify had a return on equity of 5.70% and a net margin of 9.97%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 earnings per share. Equities analysts expect that DoubleVerify will post 0.3 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Macquarie decreased their price objective on DoubleVerify from $25.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Barclays cut their target price on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Wells Fargo & Company started coverage on shares of DoubleVerify in a research note on Monday. They set an “underweight” rating and a $14.00 price target on the stock. Finally, Truist Financial reduced their price objective on shares of DoubleVerify from $32.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $27.47.

Insider Buying and Selling at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $16.41, for a total transaction of $28,947.24. Following the completion of the transaction, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,339,023.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 8,820 shares of company stock valued at $153,591 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Institutional Trading of DoubleVerify

Several institutional investors and hedge funds have recently added to or reduced their stakes in DV. Whittier Trust Co. acquired a new stake in shares of DoubleVerify during the 1st quarter worth approximately $28,000. RiverPark Advisors LLC bought a new position in DoubleVerify in the first quarter valued at approximately $54,000. CWM LLC raised its position in shares of DoubleVerify by 212.5% during the 2nd quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after acquiring an additional 1,900 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of DoubleVerify by 72.3% in 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 period. Finally, Parkside Financial Bank & Trust boosted its position in shares of DoubleVerify by 37.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 6,604 shares of the company’s stock worth $129,000 after purchasing an additional 1,806 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

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.