DoubleVerify Holdings, Inc. (NYSE:DV) Shares Sold 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 trimmed its stake in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 64.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

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

DoubleVerify Price Performance

Shares of DV traded up $0.06 during trading hours on Friday, hitting $14.89. 2,641,990 shares of the stock were exchanged, compared to its average volume of 2,469,383. The stock's 50-day moving average price is $15.02 and its two-hundred day moving average price is $15.63. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 51.35, a price-to-earnings-growth ratio of 2.39 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 4.41. DoubleVerify Holdings, Inc. has a 12-month low of $11.52 and a 12-month high of $23.11.

DoubleVerify (NYSE:DV - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). DoubleVerify had a return on equity of 4.86% and a net margin of 7.38%. The company had revenue of $189.02 million for the quarter, compared to analysts' expectations of $171.14 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The firm's revenue was up 21.3% on a year-over-year basis. Research analysts expect that DoubleVerify Holdings, Inc. will post 0.36 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on DV. Raymond James Financial dropped their target price on DoubleVerify from $22.00 to $16.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. The Goldman Sachs Group cut their price objective on shares of DoubleVerify from $20.00 to $15.50 and set a "neutral" rating for the company in a research note on Monday, April 14th. Truist Financial reissued a "buy" rating and issued a $22.00 target price (up previously from $21.00) on shares of DoubleVerify in a research note on Thursday, June 12th. JPMorgan Chase & Co. upgraded shares of DoubleVerify from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $18.00 to $19.00 in a report on Friday, August 1st. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $27.00 target price (up previously from $26.00) on shares of DoubleVerify in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, DoubleVerify 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.