Intech Investment Management LLC Sells 93,964 Shares of DoubleVerify Holdings, Inc. $DV

Key Points

• Intech Investment Management cut its stake in DoubleVerify by 46.1%, selling 93,964 shares and leaving it with 109,676 shares (about 0.07% ownership, ~$1.31M), while overall institutional ownership remains high at 97.29% and other institutions (e.g., JPMorgan) added shares.
• DoubleVerify missed quarterly estimates, reporting $0.31 EPS vs $0.33 expected and $205.6M revenue vs $208.8M expected (revenue +7.9% YoY); the stock trades around $11 with a $1.78B market cap and a consensus analyst rating of "Moderate Buy" with a $15.88 target.

Intech Investment Management LLC cut its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 46.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,676 shares of the company's stock after selling 93,964 shares during the quarter. Intech Investment Management LLC owned about 0.07% of DoubleVerify worth $1,314,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. raised its holdings in DoubleVerify by 256.8% in the third quarter. Fox Run Management L.L.C. now owns 57,760 shares of the company's stock worth $692,000 after purchasing an additional 41,571 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in shares of DoubleVerify by 210.0% during the 3rd quarter. Clearstead Advisors LLC now owns 2,055 shares of the company's stock valued at $25,000 after buying an additional 1,392 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of DoubleVerify by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 988,869 shares of the company's stock worth $11,847,000 after buying an additional 220,639 shares during the period. Public Sector Pension Investment Board grew its position in shares of DoubleVerify by 15.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 529,775 shares of the company's stock worth $6,347,000 after buying an additional 69,972 shares during the period. Finally, Illinois Municipal Retirement Fund bought a new position in shares of DoubleVerify in the 3rd quarter worth about $998,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group lowered their price target on shares of DoubleVerify from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Morgan Stanley lifted their price target on DoubleVerify from $15.00 to $15.50 and gave the stock an "equal weight" rating in a research report on Tuesday, January 13th. Needham & Company LLC dropped their price target on shares of DoubleVerify from $18.00 to $12.00 and set a "buy" rating on the stock in a research note on Monday, November 10th. Stifel Nicolaus cut their price objective on shares of DoubleVerify from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, November 10th. Finally, Barclays restated an "equal weight" rating and set a $12.00 price objective on shares of DoubleVerify in a research note on Monday, January 12th. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.88.

DoubleVerify Stock Performance

DoubleVerify stock opened at $11.00 on Friday. DoubleVerify Holdings, Inc. has a one year low of $7.64 and a one year high of $16.82. The stock has a fifty day moving average of $10.37 and a 200 day moving average of $11.49. The stock has a market cap of $1.78 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 1.24 and a beta of 0.98.

DoubleVerify (NYSE:DV - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). DoubleVerify had a return on equity of 7.50% and a net margin of 6.77%.The business had revenue of $205.59 million during the quarter, compared to the consensus estimate of $208.77 million. During the same quarter in the previous year, the business posted $0.13 earnings per share. The firm's revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts predict that DoubleVerify Holdings, Inc. will post 0.36 EPS for the current fiscal year.

DoubleVerify 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.