DoubleVerify Holdings, Inc. (NYSE:DV) Position Lessened by Geneva Capital Management LLC

Key Points

• Geneva Capital Management LLC significantly reduced its stake in DoubleVerify Holdings, selling 1,657,867 shares and lowering its ownership by 64.4% to 916,294 shares, valued at $12.25 million.
• Major investors such as Burgundy Asset Management and Federated Hermes increased their stakes in DoubleVerify, with Burgundy raising its position by 73.2% and Federated boosting its stake by 17,284% during the same period.
• DoubleVerify reported earnings of $0.01 per share for the latest quarter, missing analysts’ expectations, but saw a 17.2% increase in revenue year-over-year totaling $165.06 million.

Geneva Capital Management LLC lowered its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 64.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 916,294 shares of the company's stock after selling 1,657,867 shares during the quarter. Geneva Capital Management LLC owned approximately 0.56% of DoubleVerify worth $12,251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DV. Signaturefd LLC grew its holdings in DoubleVerify by 582.9% in the 1st quarter. Signaturefd LLC now owns 2,322 shares of the company's stock valued at $31,000 after buying an additional 1,982 shares in the last quarter. Quadrant Capital Group LLC grew its position in DoubleVerify by 171.6% in the fourth quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company's stock worth $39,000 after acquiring an additional 1,285 shares during the period. Versant Capital Management Inc purchased a new stake in DoubleVerify in the first quarter valued at $40,000. Aster Capital Management DIFC Ltd lifted its stake in shares of DoubleVerify by 50.8% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 3,912 shares of the company's stock valued at $75,000 after purchasing an additional 1,317 shares during the last quarter. Finally, Redwood Investments LLC purchased a new stake in DoubleVerify in the 4th quarter valued at about $94,000. Hedge funds and other institutional investors own 97.29% of the company's stock.

DoubleVerify Price Performance

DV stock traded up $0.41 during trading on Wednesday, hitting $15.89. The stock had a trading volume of 5,298,376 shares, compared to its average volume of 1,954,320. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 54.78, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.72 and a current ratio of 3.72. DoubleVerify Holdings, Inc. has a 1-year low of $11.52 and a 1-year high of $23.11. The company's 50 day moving average price is $14.95 and its two-hundred day moving average price is $15.66.

DoubleVerify (NYSE:DV - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $189.02 million during the quarter, compared to analyst estimates of $171.14 million. DoubleVerify had a net margin of 7.38% and a return on equity of 4.87%. During the same quarter in the previous year, the business posted $0.04 EPS. DoubleVerify's revenue was up 21.3% compared to the same quarter last year. On average, sell-side analysts forecast that DoubleVerify Holdings, Inc. will post 0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of DoubleVerify from $26.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. BMO Capital Markets restated an "outperform" rating and set a $27.00 target price (up from $26.00) on shares of DoubleVerify in a report on Wednesday. Royal Bank Of Canada reduced their price target on shares of DoubleVerify from $24.00 to $21.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group decreased their price target on shares of DoubleVerify from $20.00 to $15.50 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Needham & Company LLC restated a "buy" rating and set a $18.00 price target on shares of DoubleVerify in a report on Thursday, June 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.13.

About DoubleVerify

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.