DoubleVerify Holdings, Inc. (NYSE:DV) Shares Purchased by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in DoubleVerify Holdings by 17,284%, acquiring an additional 1,654,250 shares and holding a total of 1,663,821 shares worth approximately $22,245,000.
• Institutional investors now own 97.29% of DoubleVerify's shares, indicating a highly concentrated ownership structure.
• Despite a revenue increase of 17.2% year-over-year, DoubleVerify missed EPS estimates, reporting $0.01 compared to expectations of $0.02.

Federated Hermes Inc. increased its holdings in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 17,284.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,663,821 shares of the company's stock after acquiring an additional 1,654,250 shares during the quarter. Federated Hermes Inc. owned about 1.02% of DoubleVerify worth $22,245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its position in DoubleVerify by 1.6% during the first quarter. Mackenzie Financial Corp now owns 5,752,688 shares of the company's stock valued at $76,913,000 after buying an additional 91,405 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of DoubleVerify by 37.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,502 shares of the company's stock worth $742,000 after purchasing an additional 15,190 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of DoubleVerify by 11.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 25,926 shares of the company's stock worth $347,000 after purchasing an additional 2,659 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of DoubleVerify in the 1st quarter worth about $195,000. Finally, South Dakota Investment Council raised its position in shares of DoubleVerify by 53.7% in the 1st quarter. South Dakota Investment Council now owns 110,719 shares of the company's stock worth $1,480,000 after purchasing an additional 38,700 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays reduced their price objective on DoubleVerify from $24.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, April 21st. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 price objective on shares of DoubleVerify in a research report on Thursday, June 12th. Truist Financial reaffirmed a "buy" rating and set a $22.00 price objective (up from $21.00) on shares of DoubleVerify in a research report on Thursday, June 12th. BMO Capital Markets reaffirmed an "outperform" rating and set a $26.00 price objective (up from $25.00) on shares of DoubleVerify in a research report on Thursday, June 12th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $18.00 price target on shares of DoubleVerify in a report on Thursday, June 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, DoubleVerify presently has an average rating of "Moderate Buy" and an average price target of $18.92.

DoubleVerify Price Performance

Shares of DoubleVerify stock traded down $0.15 on Friday, reaching $15.17. The company's stock had a trading volume of 2,478,065 shares, compared to its average volume of 1,740,794. The company has a market capitalization of $2.46 billion, a P/E ratio of 54.18, a PEG ratio of 2.30 and a beta of 1.05. DoubleVerify Holdings, Inc. has a 52-week low of $11.52 and a 52-week high of $23.11. The stock has a 50-day moving average price of $14.86 and a 200-day moving average price of $15.71. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.01.

DoubleVerify (NYSE:DV - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). DoubleVerify had a net margin of 7.55% and a return on equity of 4.73%. The business had revenue of $165.06 million during the quarter, compared to analysts' expectations of $153.07 million. During the same quarter last year, the firm earned $0.04 earnings per share. The firm's quarterly revenue was up 17.2% compared to the same quarter last year. Analysts expect that DoubleVerify Holdings, Inc. will post 0.36 EPS for the current year.

DoubleVerify Profile

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.