DoubleVerify (NYSE:DV) Trading Down 2.7% Following Analyst Downgrade

DoubleVerify Holdings, Inc. (NYSE:DV)’s share price fell 2.7% on Monday after The Goldman Sachs Group lowered their price target on the stock from $20.00 to $15.50. The Goldman Sachs Group currently has a neutral rating on the stock. DoubleVerify traded as low as $12.20 and last traded at $12.23. 498,240 shares changed hands during trading, a decline of 79% from the average session volume of 2,419,073 shares. The stock had previously closed at $12.57.

Several other research firms have also weighed in on DV. Raymond James started coverage on DoubleVerify in a report on Wednesday, December 18th. They set an “outperform” rating and a $25.00 target price on the stock. Bank of America upgraded DoubleVerify from an “underperform” rating to a “neutral” rating in a report on Friday, February 28th. Robert W. Baird reiterated a “neutral” rating and set a $14.00 price target (down previously from $20.00) on shares of DoubleVerify in a report on Friday, March 28th. Stifel Nicolaus set a $20.00 price objective on shares of DoubleVerify in a research note on Friday, February 28th. Finally, Barclays lowered their target price on shares of DoubleVerify from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, DoubleVerify presently has a consensus rating of “Hold” and a consensus price target of $21.78.

Insider Transactions at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the completion of the transaction, the chief financial officer now owns 85,882 shares in the company, valued at approximately $1,855,910.02. This represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by insiders.

Institutional Trading of DoubleVerify

Several institutional investors have recently made changes to their positions in DV. Smartleaf Asset Management LLC lifted its stake in DoubleVerify by 168.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock worth $30,000 after purchasing an additional 981 shares during the period. GAMMA Investing LLC lifted its position in shares of DoubleVerify by 73.6% during the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after buying an additional 863 shares during the period. Quadrant Capital Group LLC boosted its stake in DoubleVerify by 171.6% in the 4th quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company’s stock valued at $39,000 after buying an additional 1,285 shares in the last quarter. Versant Capital Management Inc acquired a new stake in DoubleVerify in the 1st quarter valued at $40,000. Finally, Allianz SE bought a new stake in DoubleVerify in the fourth quarter valued at $41,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

DoubleVerify Price Performance

The firm has a 50 day simple moving average of $16.49 and a 200-day simple moving average of $18.23. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 32.86, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04.

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.