DoubleVerify Holdings, Inc. (NYSE:DV) Short Interest Up 17.8% in March

DoubleVerify Holdings, Inc. (NYSE:DV) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 6,500,000 shares, a growth of 17.8% from the March 15th total of 5,520,000 shares. Based on an average daily volume of 1,880,000 shares, the days-to-cover ratio is currently 3.5 days. Approximately 4.7% of the company’s shares are short sold.

Analyst Ratings Changes

A number of research firms recently issued reports on DV. Robert W. Baird increased their price objective on DoubleVerify from $38.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Macquarie upgraded DoubleVerify from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Monday, March 11th. KeyCorp increased their price objective on DoubleVerify from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Royal Bank of Canada increased their price target on DoubleVerify from $40.00 to $49.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. reduced their price target on DoubleVerify from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, DoubleVerify has a consensus rating of “Moderate Buy” and an average target price of $42.50.

DoubleVerify Trading Down 4.9 %

Shares of NYSE DV opened at $30.79 on Tuesday. The firm has a market cap of $5.29 billion, a P/E ratio of 75.10, a price-to-earnings-growth ratio of 3.41 and a beta of 1.04. DoubleVerify has a 1-year low of $26.23 and a 1-year high of $43.00. The business’s 50 day moving average is $35.75 and its 200-day moving average is $34.11.

DoubleVerify (NYSE:DV) last announced its earnings results on Wednesday, February 28th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $172.23 million for the quarter, compared to analyst estimates of $171.85 million. DoubleVerify had a return on equity of 7.29% and a net margin of 12.48%. Analysts forecast that DoubleVerify will post 0.36 EPS for the current year.

Insider Activity at DoubleVerify

In other DoubleVerify news, insider Andrew E. Grimmig sold 50,924 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $33.51, for a total value of $1,706,463.24. Following the completion of the sale, the insider now directly owns 39,468 shares in the company, valued at $1,322,572.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DoubleVerify news, insider Andrew E. Grimmig sold 50,924 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $33.51, for a total value of $1,706,463.24. Following the completion of the sale, the insider now directly owns 39,468 shares in the company, valued at $1,322,572.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew E. Grimmig sold 16,667 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $33.80, for a total value of $563,344.60. Following the completion of the sale, the insider now owns 39,468 shares of the company’s stock, valued at $1,334,018.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,339 shares of company stock worth $2,851,928. 3.27% of the stock is owned by insiders.

Hedge Funds Weigh In On DoubleVerify

A number of large investors have recently made changes to their positions in DV. Guinness Atkinson Asset Management Inc bought a new position in shares of DoubleVerify during the third quarter worth approximately $34,000. Signaturefd LLC increased its stake in DoubleVerify by 84.7% during the 4th quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock worth $40,000 after acquiring an additional 498 shares during the period. Huntington National Bank increased its stake in DoubleVerify by 41.6% during the 3rd quarter. Huntington National Bank now owns 1,495 shares of the company’s stock worth $42,000 after acquiring an additional 439 shares during the period. GAMMA Investing LLC bought a new position in DoubleVerify during the 4th quarter worth $42,000. Finally, Castleview Partners LLC bought a new position in DoubleVerify during the 2nd quarter worth $42,000. Institutional investors own 97.29% of the company’s stock.

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.