DoubleVerify (NYSE:DV) Sets New 12-Month Low – Here’s What Happened

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) reached a new 52-week low during trading on Friday . The stock traded as low as $13.18 and last traded at $13.23, with a volume of 622530 shares. The stock had previously closed at $13.99.

Analysts Set New Price Targets

DV has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Raymond James started coverage on DoubleVerify in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $25.00 price target for the company. Robert W. Baird reissued a “neutral” rating and issued a $14.00 price objective (down from $20.00) on shares of DoubleVerify in a research note on Friday. Loop Capital cut DoubleVerify from a “buy” rating to a “hold” rating and decreased their target price for the stock from $24.00 to $16.00 in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group dropped their price target on shares of DoubleVerify from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, DoubleVerify currently has a consensus rating of “Hold” and a consensus price target of $22.00.

DoubleVerify Price Performance

The stock has a market cap of $2.20 billion, a P/E ratio of 35.80, a PEG ratio of 2.63 and a beta of 1.06. The business’s 50 day simple moving average is $18.65 and its 200 day simple moving average is $18.67.

Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of DoubleVerify stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the completion of the transaction, the chief financial officer now owns 85,882 shares in the company, valued at approximately $1,855,910.02. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Several institutional investors have recently bought and sold shares of DV. Vanguard Group Inc. increased its stake in shares of DoubleVerify by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 17,481,297 shares of the company’s stock valued at $335,816,000 after buying an additional 143,773 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of DoubleVerify by 20.1% in the fourth quarter. Mackenzie Financial Corp now owns 5,661,283 shares of the company’s stock worth $108,753,000 after acquiring an additional 948,529 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of DoubleVerify by 73.2% during the fourth quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock worth $94,262,000 after purchasing an additional 2,073,279 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of DoubleVerify by 29.5% during the fourth quarter. AQR Capital Management LLC now owns 2,602,929 shares of the company’s stock valued at $50,002,000 after purchasing an additional 592,435 shares during the last quarter. Finally, Geneva Capital Management LLC increased its holdings in shares of DoubleVerify by 0.8% in the fourth quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company’s stock valued at $49,450,000 after purchasing an additional 19,684 shares in the last quarter. 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.