DoubleVerify Holdings, Inc. (NYSE:DV) Short Interest Down 9.5% in January

DoubleVerify Holdings, Inc. (NYSE:DV) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 7,850,000 shares, a decline of 9.5% from the January 15th total of 8,670,000 shares. Approximately 5.5% of the shares of the stock are short sold. Based on an average trading volume of 1,680,000 shares, the short-interest ratio is presently 4.7 days.

Insider Buying and Selling

In other news, CFO Nicola T. Allais sold 2,071 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total value of $42,476.21. Following the completion of the sale, the chief financial officer now owns 85,882 shares of the company’s stock, valued at approximately $1,761,439.82. This represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Redwood Investments LLC bought a new position in shares of DoubleVerify during the fourth quarter worth $94,000. Point72 Hong Kong Ltd raised its position in shares of DoubleVerify by 482.9% during the 4th quarter. Point72 Hong Kong Ltd now owns 52,592 shares of the company’s stock valued at $1,010,000 after buying an additional 43,570 shares in the last quarter. Nuveen Asset Management LLC grew its position in DoubleVerify by 0.5% in the fourth quarter. Nuveen Asset Management LLC now owns 380,005 shares of the company’s stock worth $7,300,000 after acquiring an additional 1,779 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in DoubleVerify during the fourth quarter worth approximately $591,000. Finally, Lazard Asset Management LLC raised its position in DoubleVerify by 51.1% during the fourth quarter. Lazard Asset Management LLC now owns 105,046 shares of the company’s stock valued at $2,016,000 after purchasing an additional 35,506 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

DoubleVerify Trading Down 1.7 %

NYSE DV traded down $0.40 on Monday, hitting $22.61. 971,764 shares of the company traded hands, compared to its average volume of 1,233,496. The business’s 50 day moving average price is $20.29 and its 200-day moving average price is $19.14. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 61.12, a P/E/G ratio of 2.56 and a beta of 0.99. DoubleVerify has a 52-week low of $16.11 and a 52-week high of $43.00.

DoubleVerify announced that its Board of Directors has initiated a share buyback program on Wednesday, November 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DV. Macquarie reaffirmed an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a research report on Thursday, November 7th. BMO Capital Markets reduced their price target on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Truist Financial lowered their price objective on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company initiated coverage on DoubleVerify in a report on Monday, October 28th. They set an “underweight” rating and a $14.00 target price on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $25.00 price target on shares of DoubleVerify in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

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.