Laurus Global Equity Management Inc. Sells 724,950 Shares of DoubleVerify Holdings, Inc. $DV

Key Points

• Laurus Global Equity Management sold 724,950 shares in Q4, cutting its stake by 89.2% to 87,890 shares (about 0.05% of DoubleVerify), worth roughly $1.005 million.
• DoubleVerify missed Q4 estimates with $0.31 EPS versus $0.33 expected and $205.59M revenue versus $208.77M, though revenue was up 7.9% year-over-year.
• Analysts are broadly positive: 11 Buys, 4 Holds and 2 Sells, giving an average rating of "Moderate Buy" and an average price target of $16.00.

Laurus Global Equity Management Inc. lowered its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 89.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 87,890 shares of the company's stock after selling 724,950 shares during the period. DoubleVerify accounts for approximately 0.8% of Laurus Global Equity Management Inc.'s holdings, making the stock its 29th largest position. Laurus Global Equity Management Inc. owned about 0.05% of DoubleVerify worth $1,005,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Elo Mutual Pension Insurance Co boosted its holdings in shares of DoubleVerify by 378.0% during the third quarter. Elo Mutual Pension Insurance Co now owns 141,027 shares of the company's stock worth $1,690,000 after acquiring an additional 111,522 shares during the period. Fortress Investment Group LLC bought a new stake in shares of DoubleVerify during the third quarter worth approximately $5,668,000. Penbrook Management LLC bought a new stake in shares of DoubleVerify during the fourth quarter worth approximately $1,177,000. First Eagle Investment Management LLC bought a new stake in shares of DoubleVerify during the third quarter worth approximately $4,043,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of DoubleVerify during the third quarter worth approximately $1,419,000. Institutional investors own 97.29% of the company's stock.

Analyst Upgrades and Downgrades

DV has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price objective on DoubleVerify from $8.00 to $9.00 and gave the stock an "underweight" rating in a report on Monday, March 2nd. Weiss Ratings restated a "sell (d+)" rating on shares of DoubleVerify in a report on Monday. Barclays restated an "equal weight" rating and set a $12.00 price objective on shares of DoubleVerify in a report on Monday, January 12th. Royal Bank Of Canada dropped their price target on shares of DoubleVerify from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday, February 27th. Finally, Canaccord Genuity Group dropped 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. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $16.00.

DoubleVerify Stock Performance

Shares of NYSE DV traded down $0.47 during midday trading on Thursday, reaching $10.26. The company's stock had a trading volume of 113,296 shares, compared to its average volume of 2,690,198. DoubleVerify Holdings, Inc. has a fifty-two week low of $7.64 and a fifty-two week high of $16.82. The business's 50 day moving average price is $10.03 and its two-hundred day moving average price is $10.58. The company has a market cap of $1.61 billion, a P/E ratio of 34.21, a P/E/G ratio of 1.21 and a beta of 0.99.

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 analysts' consensus estimates of $0.33 by ($0.02). DoubleVerify had a net margin of 6.77% and a return on equity of 7.50%. The business had revenue of $205.59 million during the quarter, compared to analyst estimates of $208.77 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The firm's quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts forecast that DoubleVerify Holdings, Inc. will post 0.56 earnings per share for the current fiscal year.

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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