Short Interest in DoubleVerify Holdings, Inc. (NYSE:DV) Drops By 9.5%

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

Analysts Set New Price Targets

A number of research analysts have issued reports on DV shares. Raymond James started coverage on DoubleVerify in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $25.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. BMO Capital Markets decreased their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. JMP Securities restated a “market outperform” rating and set a $25.00 price target on shares of DoubleVerify in a report on Monday, January 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of DoubleVerify in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.00.

DoubleVerify Trading Down 1.7 %

Shares of DoubleVerify stock opened at $22.61 on Tuesday. The company has a market capitalization of $3.83 billion, a P/E ratio of 61.12, a price-to-earnings-growth ratio of 2.56 and a beta of 0.99. The stock has a fifty day simple moving average of $20.33 and a 200 day simple moving average of $19.15. DoubleVerify has a 12-month low of $16.11 and a 12-month high of $43.00.

DoubleVerify declared that its Board of Directors has initiated a share repurchase plan on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,220 shares of DoubleVerify stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total value of $47,974.20. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Kolinsky Wealth Management LLC purchased a new position in shares of DoubleVerify during the 4th quarter valued at $347,000. PharVision Advisers LLC purchased a new position in shares of DoubleVerify during the 4th quarter valued at $370,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of DoubleVerify by 10.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 418,471 shares of the company’s stock valued at $8,039,000 after buying an additional 38,890 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of DoubleVerify by 8.7% during the 4th quarter. Two Sigma Advisers LP now owns 317,875 shares of the company’s stock valued at $6,106,000 after buying an additional 25,475 shares during the last quarter. Finally, Redwood Investments LLC purchased a new position in shares of DoubleVerify during the 4th quarter valued at $94,000. 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.