Summit Creek Advisors LLC Cuts Position in DoubleVerify Holdings, Inc. $DV

Key Points

• Summit Creek Advisors cut its DoubleVerify position by 49% in the second quarter, selling 169,307 shares and retaining 175,936 shares worth approximately $1.9 million. Institutional investors collectively own 97.29% of the company.
• DoubleVerify reported quarterly EPS of $0.22, exceeding estimates of $0.11, while revenue reached $193.79 million, up 2.5% year over year but below analyst expectations of $202.23 million.
• Analysts have largely become more cautious, with several downgrades to “hold” and price-target reductions to $13.60. The stock has a consensus “Hold” rating and an average price target of $14.18.

Summit Creek Advisors LLC trimmed its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 49.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,936 shares of the company's stock after selling 169,307 shares during the period. Summit Creek Advisors LLC owned approximately 0.11% of DoubleVerify worth $1,907,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baird Financial Group Inc. purchased a new position in DoubleVerify during the 1st quarter valued at about $154,000. Woodline Partners LP increased its stake in DoubleVerify by 2.5% during the first quarter. Woodline Partners LP now owns 30,825 shares of the company's stock worth $412,000 after purchasing an additional 762 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in DoubleVerify by 10.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,814 shares of the company's stock worth $6,174,000 after purchasing an additional 43,343 shares during the period. Creative Planning lifted its position in shares of DoubleVerify by 17.8% during the second quarter. Creative Planning now owns 25,827 shares of the company's stock worth $387,000 after purchasing an additional 3,900 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of DoubleVerify by 624.2% during the second quarter. EverSource Wealth Advisors LLC now owns 4,635 shares of the company's stock worth $69,000 after purchasing an additional 3,995 shares in the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

DoubleVerify Stock Down 0.2%

DV opened at $13.28 on Wednesday. The business's 50-day simple moving average is $11.42 and its 200-day simple moving average is $10.54. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.50 and a current ratio of 4.50. DoubleVerify Holdings, Inc. has a one year low of $7.64 and a one year high of $16.44. The stock has a market capitalization of $2.06 billion, a P/E ratio of 36.88, a price-to-earnings-growth ratio of 1.59 and a beta of 0.97.

DoubleVerify (NYSE:DV - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.11. The firm had revenue of $193.79 million during the quarter, compared to analysts' expectations of $202.23 million. DoubleVerify had a return on equity of 8.77% and a net margin of 7.66%.The business's revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Analysts anticipate that DoubleVerify Holdings, Inc. will post 0.53 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DV shares. Royal Bank Of Canada cut shares of DoubleVerify from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $14.00 to $13.60 in a report on Friday, August 7th. Canaccord Genuity Group lowered shares of DoubleVerify from a "buy" rating to a "hold" rating and reduced their target price for the stock from $16.00 to $13.60 in a report on Friday, August 7th. Truist Financial cut shares of DoubleVerify from a "buy" rating to a "hold" rating and decreased their price target for the company from $16.00 to $13.60 in a research report on Friday, August 7th. The Goldman Sachs Group boosted their price objective on shares of DoubleVerify from $10.50 to $12.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Finally, Scotiabank cut shares of DoubleVerify from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $15.00 to $13.60 in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, DoubleVerify presently has a consensus rating of "Hold" and an average price target of $14.18.

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.

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