DoubleVerify (NYSE:DV) Trading Up 4.6% – Here’s What Happened

DoubleVerify Holdings, Inc. (NYSE:DV)’s share price rose 4.6% during trading on Wednesday . The stock traded as high as $12.51 and last traded at $12.41. 479,012 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,393,809 shares. The stock had previously closed at $11.86.

Analyst Ratings Changes

A number of analysts have issued reports on DV shares. Baird R W downgraded DoubleVerify from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 28th. Canaccord Genuity Group decreased their price objective on DoubleVerify from $30.00 to $26.00 and set a “buy” rating for the company in a report on Friday, February 28th. Morgan Stanley dropped their price objective 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. Royal Bank of Canada lifted their target price on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Bank of America upgraded shares of DoubleVerify from an “underperform” rating to a “neutral” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.00.

DoubleVerify Trading Down 0.6 %

The stock’s fifty day moving average price is $16.87 and its 200 day moving average price is $18.29. The stock has a market cap of $2.09 billion, a P/E ratio of 33.98, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 2,220 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total value of $47,974.20. Following the completion of the sale, the chief financial officer now owns 85,882 shares in the company, valued at $1,855,910.02. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On DoubleVerify

Hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of DoubleVerify by 1.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,553 shares of the company’s stock worth $549,000 after buying an additional 526 shares during the period. Federated Hermes Inc. grew its position in DoubleVerify by 6.3% during the 4th quarter. Federated Hermes Inc. now owns 9,571 shares of the company’s stock worth $184,000 after acquiring an additional 571 shares during the last quarter. GAMMA Investing LLC increased its stake in DoubleVerify by 73.6% in the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after purchasing an additional 863 shares during the period. Smartleaf Asset Management LLC lifted its position in DoubleVerify by 168.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock valued at $30,000 after purchasing an additional 981 shares during the last quarter. Finally, Summit Creek Advisors LLC boosted its stake in shares of DoubleVerify by 0.3% during the fourth quarter. Summit Creek Advisors LLC now owns 368,578 shares of the company’s stock valued at $7,080,000 after purchasing an additional 1,153 shares during the period. 97.29% of the stock is currently 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.