ETF Managers Group LLC Purchases New Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Posted by Defense World Staff on Jul 2nd, 2023

ETF Managers Group LLC purchased a new stake in DoubleVerify Holdings, Inc. (NYSE:DV – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,780 shares of the company’s stock, valued at approximately $174,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DV. Assetmark Inc. grew its position in shares of DoubleVerify by 102.7% during the 4th quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock worth $28,000 after purchasing an additional 645 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of DoubleVerify during the 3rd quarter worth approximately $56,000. Clear Street Markets LLC bought a new stake in shares of DoubleVerify during the 4th quarter worth approximately $56,000. UBS Group AG bought a new stake in shares of DoubleVerify during the 1st quarter worth approximately $72,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of DoubleVerify by 1,111.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,563 shares of the company’s stock worth $78,000 after acquiring an additional 3,269 shares during the period. Institutional investors and hedge funds own 94.42% of the company’s stock.

DoubleVerify Stock Performance

DV stock opened at $38.92 on Friday. The company has a fifty day moving average price of $32.87 and a 200-day moving average price of $28.62. The company has a market capitalization of $6.47 billion, a P/E ratio of 134.21 and a beta of 0.82. DoubleVerify Holdings, Inc. has a 52-week low of $20.38 and a 52-week high of $39.87.

DoubleVerify (NYSE:DV – Free Report) last posted its quarterly earnings data on Wednesday, May 10th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. DoubleVerify had a net margin of 10.64% and a return on equity of 5.91%. The company had revenue of $122.59 million during the quarter, compared to analysts’ expectations of $117.93 million. During the same period in the prior year, the company posted $0.03 earnings per share. As a group, sell-side analysts forecast that DoubleVerify Holdings, Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

DV has been the subject of a number of recent analyst reports. Piper Sandler began coverage on shares of DoubleVerify in a report on Wednesday, April 12th. They set an “overweight” rating and a $35.00 price target for the company. Truist Financial increased their price objective on shares of DoubleVerify from $37.00 to $38.00 in a research note on Thursday, May 11th. TheStreet downgraded shares of DoubleVerify from a “c-” rating to a “d” rating in a research note on Wednesday, May 10th. Wells Fargo & Company began coverage on shares of DoubleVerify in a research note on Tuesday, June 27th. They issued an “overweight” rating and a $44.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on shares of DoubleVerify from $34.00 to $48.00 in a research note on Wednesday, June 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.25.

Insider Transactions at DoubleVerify

In other news, insider Andrew E. Grimmig sold 55,999 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $36.79, for a total transaction of $2,060,203.21. Following the completion of the sale, the insider now directly owns 57,760 shares in the company, valued at $2,124,990.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In other DoubleVerify news, insider Julie Eddleman sold 750 shares of the firm’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $37.99, for a total value of $28,492.50. Following the completion of the sale, the insider now directly owns 130,871 shares in the company, valued at $4,971,789.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew E. Grimmig sold 55,999 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $36.79, for a total transaction of $2,060,203.21. Following the completion of the sale, the insider now owns 57,760 shares of the company’s stock, valued at $2,124,990.40. The disclosure for this sale can be found here. Insiders sold a total of 160,993 shares of company stock worth $5,433,744 over the last three months. 3.27% of the stock is owned by company insiders.

DoubleVerify Company Profile

(Free Report)

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and analytics in the United States and internationally. The company provides solutions to advertisers unbiased data analytics that enable advertisers to increase the effectiveness, quality and return on their digital advertising investments.