1,307,371 DoubleVerify Holdings, Inc. $DV Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its DoubleVerify stake by 95.4%, selling 1,307,371 shares and retaining 62,657 shares valued at approximately $845,000.
• Institutional investors own 97.29% of DoubleVerify’s outstanding shares, with several funds—including State Street and Manufacturers Life—adding to their positions.
• Analysts broadly rate the stock a “Hold”, with an average price target of $13.52; DoubleVerify recently exceeded quarterly EPS estimates, reporting $0.22 versus the expected $0.11, despite revenue falling short of forecasts.

Assenagon Asset Management S.A. lowered its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 95.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,657 shares of the company's stock after selling 1,307,371 shares during the quarter. Assenagon Asset Management S.A.'s holdings in DoubleVerify were worth $845,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of DoubleVerify by 38.7% during the 3rd quarter. GAMMA Investing LLC now owns 10,056 shares of the company's stock worth $136,000 after acquiring an additional 2,806 shares during the period. State Street Corp boosted its position in shares of DoubleVerify by 23.3% in the second quarter. State Street Corp now owns 5,375,150 shares of the company's stock worth $58,267,000 after acquiring an additional 1,014,027 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in DoubleVerify by 122.4% in the second quarter. The Manufacturers Life Insurance Company now owns 68,027 shares of the company's stock valued at $737,000 after purchasing an additional 37,439 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in DoubleVerify in the second quarter valued at approximately $205,000. Finally, Nykredit A S acquired a new position in DoubleVerify during the second quarter worth approximately $32,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DV has been the topic of a number of recent analyst reports. Raymond James Financial downgraded shares of DoubleVerify from an "outperform" rating to a "market perform" rating in a research note on Friday, August 7th. Citizens Jmp cut DoubleVerify from a "market outperform" rating to a "hold" rating in a report on Friday, August 7th. Truist Financial downgraded shares of DoubleVerify from a "buy" rating to a "hold" rating and dropped their target price for the stock from $16.00 to $13.60 in a research report on Friday, August 7th. Wells Fargo & Company upgraded shares of DoubleVerify from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $8.00 to $13.60 in a report on Friday, August 7th. Finally, Scotiabank cut shares of DoubleVerify from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $15.00 to $13.60 in a research report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $13.52.

DoubleVerify Stock Down 0.1%

Shares of NYSE DV opened at $13.54 on Friday. DoubleVerify Holdings, Inc. has a 1 year low of $7.64 and a 1 year high of $13.65. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 1.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.50 and a current ratio of 4.50. The stock's 50-day simple moving average is $13.42 and its 200-day simple moving average is $11.70.

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

DoubleVerify Profile

DoubleVerify Holdings, Inc NYSE: DV 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 viewable, delivered in suitable environments and seen by legitimate audiences.

The company's solutions address areas including fraud prevention, brand safety and suitability, media quality, campaign measurement, reach and frequency, and advertising performance.

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