Amundi Sells 1,159,675 Shares of DoubleVerify Holdings, Inc. $DV

Key Points

• Amundi cut its DoubleVerify stake by 88.9% in the second quarter, selling 1,159,675 shares and retaining 145,320 shares valued at approximately $1.58 million.
• DoubleVerify reported quarterly EPS of $0.22, exceeding estimates of $0.11, while revenue rose 2.5% year over year to $193.79 million but fell short of expectations.
• Analyst sentiment is cautious: multiple firms downgraded the stock to “hold” or “sector perform,” and the shares have an average price target of $13.52 versus a recent price of $13.41.

Amundi trimmed its position in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 88.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,320 shares of the company's stock after selling 1,159,675 shares during the quarter. Amundi owned approximately 0.09% of DoubleVerify worth $1,575,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DV. Quantbot Technologies LP purchased a new stake in DoubleVerify in the 2nd quarter worth approximately $27,000. Quadrant Capital Group LLC increased its holdings in shares of DoubleVerify by 154.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,458 shares of the company's stock worth $28,000 after purchasing an additional 1,492 shares during the period. Nykredit A S bought a new position in shares of DoubleVerify in the second quarter worth $32,000. UMB Bank n.a. raised its position in shares of DoubleVerify by 124.3% in the fourth quarter. UMB Bank n.a. now owns 2,757 shares of the company's stock worth $32,000 after buying an additional 1,528 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in shares of DoubleVerify in the second quarter worth $36,000. 97.29% of the stock is currently owned by institutional investors.

DoubleVerify Stock Up 0.0%

Shares of NYSE:DV opened at $13.41 on Monday. The stock's 50-day moving average price is $12.42 and its 200-day moving average price is $11.01. DoubleVerify Holdings, Inc. has a 12-month low of $7.64 and a 12-month high of $13.79. The stock has a market capitalization of $2.08 billion, a P/E ratio of 37.26, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.01.

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

Wall Street Analysts Forecast Growth

DV has been the subject of several recent analyst reports. Royal Bank Of Canada cut DoubleVerify from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $14.00 to $13.60 in a research report on Friday, August 7th. Scotiabank downgraded DoubleVerify from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $15.00 to $13.60 in a research report on Friday, August 7th. BMO Capital Markets set a $13.60 price objective on DoubleVerify in a report on Friday, August 7th. Truist Financial cut shares of DoubleVerify from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $16.00 to $13.60 in a research report on Friday, August 7th. Finally, Nomura set a $13.60 target price on shares of DoubleVerify in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $13.52.

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.

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