1,014,027 DoubleVerify Holdings, Inc. $DV Shares Acquired by State Street Corp

Key Points

• State Street increased its DoubleVerify stake by 23.3%, acquiring 1,014,027 shares to own 5.38 million shares, or about 3.47% of the company. Institutional investors collectively hold 97.29% of DoubleVerify’s stock.
• Analyst sentiment is largely neutral: two analysts rate the stock a Buy and 14 rate it Hold, producing an average rating of Hold and an average price target of $13.52.
• DoubleVerify reported quarterly EPS of $0.22, beating estimates of $0.11, while revenue of $193.79 million fell short of forecasts and rose 2.5% year over year. Shares opened at $13.38, near the company’s 52-week high of $13.65.

State Street Corp grew its stake in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 23.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,375,150 shares of the company's stock after buying an additional 1,014,027 shares during the quarter. State Street Corp owned approximately 3.47% of DoubleVerify worth $58,267,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DV. Diversified Investment Strategies LLC bought a new position in shares of DoubleVerify during the 1st quarter valued at approximately $3,246,000. Quantinno Capital Management LP raised its stake in DoubleVerify by 181.5% during the 1st quarter. Quantinno Capital Management LP now owns 426,329 shares of the company's stock worth $4,050,000 after acquiring an additional 274,896 shares during the period. Empowered Funds LLC bought a new stake in DoubleVerify during the 1st quarter worth approximately $1,687,000. Russell Investments Group Ltd. lifted its holdings in DoubleVerify by 92.0% during the second quarter. Russell Investments Group Ltd. now owns 299,346 shares of the company's stock valued at $3,256,000 after purchasing an additional 143,429 shares in the last quarter. Finally, Pale Fire Capital SE purchased a new position in DoubleVerify during the first quarter valued at approximately $1,050,000. Institutional investors own 97.29% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BMO Capital Markets set a $13.60 price objective on shares of DoubleVerify in a research note on Friday, August 7th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $13.60 price objective on shares of DoubleVerify in a report on Friday, August 21st. Raymond James Financial downgraded shares of DoubleVerify from an "outperform" rating to a "market perform" rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of DoubleVerify from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, September 2nd. Finally, Truist Financial cut shares of DoubleVerify from a "buy" rating to a "hold" rating and cut their target price for the company from $16.00 to $13.60 in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, DoubleVerify has an average rating of "Hold" and an average target price of $13.52.

DoubleVerify Stock Performance

DoubleVerify stock opened at $13.38 on Friday. The company has a market cap of $2.08 billion, a PE ratio of 37.18, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. DoubleVerify Holdings, Inc. has a twelve month low of $7.64 and a twelve month high of $13.65. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 0.01. The company's 50-day moving average price is $12.74 and its 200-day moving average price is $11.21.

DoubleVerify (NYSE:DV - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. DoubleVerify had a return on equity of 8.77% and a net margin of 7.66%.The business had revenue of $193.79 million during the quarter, compared to analyst estimates of $202.23 million. During the same period last year, the company earned $0.05 EPS. The company's revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts forecast that DoubleVerify Holdings, Inc. will post 0.59 EPS for the current fiscal year.

About DoubleVerify

DoubleVerify Holdings, Inc provides software and data analytics that help advertisers, agencies, publishers and digital media platforms measure and improve the quality and effectiveness of digital advertising. Its technology is designed to verify whether ads are delivered in appropriate environments, viewed by real users and displayed as intended across digital channels.

The company's solutions address areas including viewability, fraud and invalid traffic, brand safety and suitability, media quality, campaign reach and performance.

Want to see what other hedge funds are holding DV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DoubleVerify Holdings, Inc. (NYSE:DV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.