Assenagon Asset Management S.A. Sells 1,201,352 Shares of DoubleVerify Holdings, Inc. $DV

Key Points

• Assenagon Asset Management cut its DoubleVerify stake by 46.7% in the second quarter, selling 1,201,352 shares and retaining 1,370,028 shares worth about $14.9 million. Institutional investors collectively own 97.29% of the company.
• DoubleVerify shares opened at $13.24, above their 50-day and 200-day moving averages, but remained below the 12-month high of $16.44. The company’s market capitalization was approximately $2.03 billion.
• Analyst sentiment has weakened: several firms downgraded the stock to Hold or Market Perform and lowered price targets. The consensus rating is Hold, with an average price target of $14.18.

Assenagon Asset Management S.A. trimmed its position in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 46.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,370,028 shares of the company's stock after selling 1,201,352 shares during the quarter. Assenagon Asset Management S.A. owned 0.89% of DoubleVerify worth $14,851,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in DV. California State Teachers Retirement System grew its holdings in DoubleVerify by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 133,120 shares of the company's stock worth $1,993,000 after acquiring an additional 754 shares in the last quarter. Woodline Partners LP raised its holdings in shares of DoubleVerify by 2.5% in the 1st quarter. Woodline Partners LP now owns 30,825 shares of the company's stock valued at $412,000 after purchasing an additional 762 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of DoubleVerify by 2.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 44,027 shares of the company's stock worth $504,000 after purchasing an additional 1,098 shares during the period. Handelsbanken Fonder AB lifted its position in shares of DoubleVerify by 4.1% in the 4th quarter. Handelsbanken Fonder AB now owns 30,300 shares of the company's stock worth $347,000 after purchasing an additional 1,200 shares during the period. Finally, Xponance LLC boosted its stake in shares of DoubleVerify by 9.9% during the fourth quarter. Xponance LLC now owns 14,141 shares of the company's stock valued at $162,000 after purchasing an additional 1,275 shares in the last quarter. Institutional investors own 97.29% of the company's stock.

DoubleVerify Stock Performance

Shares of DV stock opened at $13.24 on Tuesday. The business's fifty day simple moving average is $11.07 and its 200-day simple moving average is $10.44. The company has a market cap of $2.03 billion, a PE ratio of 36.78, a PEG ratio of 1.58 and a beta of 0.97. The company has a current ratio of 4.50, a quick ratio of 4.77 and a debt-to-equity ratio of 0.01. DoubleVerify Holdings, Inc. has a 12-month low of $7.64 and a 12-month high of $16.44.

Analyst Upgrades and Downgrades

DV has been the subject of a number of recent research reports. Scotiabank downgraded shares of DoubleVerify from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $15.00 to $13.60 in a research note on Friday. Wall Street Zen cut DoubleVerify from a "buy" rating to a "hold" rating in a research report on Sunday, April 19th. Weiss Ratings reiterated a "sell (d+)" rating on shares of DoubleVerify in a report on Friday, July 17th. Canaccord Genuity Group lowered DoubleVerify from a "buy" rating to a "hold" rating and reduced their price target for the stock from $16.00 to $13.60 in a research report on Friday. Finally, Raymond James Financial lowered DoubleVerify from an "outperform" rating to a "market perform" rating in a research report on Friday. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $14.18.

DoubleVerify Company Profile

DoubleVerify, Inc is a leading digital media measurement and analytics company that helps advertisers, publishers and platforms ensure their digital advertising campaigns are viewable, fraud-free and brand-safe. The company's platform integrates data science, machine learning and proprietary analytics to authenticate the quality of media across display, video, mobile, CTV and social channels. By delivering real-time insights into ad viewability, fraud detection and contextual relevance, DoubleVerify empowers marketers to optimize campaign performance and drive better return on ad spend.

At the core of DoubleVerify's offering are solutions for viewability measurement, invalid traffic (IVT) detection, brand safety and suitability, contextual targeting and campaign performance analytics.

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