DoubleVerify (NYSE:DV) Hits New 52-Week Low – Time to Sell?

DoubleVerify Holdings, Inc. (NYSE:DV) reached a new 52-week low on Friday . The company traded as low as $13.18 and last traded at $13.23, with a volume of 622530 shares. The stock had previously closed at $13.99.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Loop Capital cut DoubleVerify from a “buy” rating to a “hold” rating and cut their price objective for the company from $24.00 to $16.00 in a research report on Tuesday, March 4th. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of DoubleVerify in a research report on Wednesday, December 11th. JMP Securities reiterated a “market outperform” rating and issued a $25.00 target price on shares of DoubleVerify in a research report on Monday, January 27th. The Goldman Sachs Group reissued a “neutral” rating and set a $20.00 target price (down previously from $24.00) on shares of DoubleVerify in a research note on Friday, February 28th. Finally, Canaccord Genuity Group lowered their price objective on DoubleVerify from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DoubleVerify currently has an average rating of “Hold” and an average target price of $22.00.

DoubleVerify Price Performance

The company has a market cap of $2.21 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 2.63 and a beta of 1.06. The firm has a 50 day simple moving average of $18.53 and a 200-day simple moving average of $18.65.

Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at approximately $1,855,910.02. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Institutional Trading of DoubleVerify

Several institutional investors have recently added to or reduced their stakes in DV. Wellington Management Group LLP boosted its position in shares of DoubleVerify by 13.4% during the fourth quarter. Wellington Management Group LLP now owns 415,337 shares of the company’s stock worth $7,979,000 after buying an additional 49,078 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in DoubleVerify by 106.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 57,772 shares of the company’s stock valued at $1,110,000 after acquiring an additional 29,745 shares during the period. Jefferies Financial Group Inc. acquired a new position in DoubleVerify in the 4th quarter valued at about $6,422,000. Mackenzie Financial Corp increased its stake in DoubleVerify by 20.1% during the fourth quarter. Mackenzie Financial Corp now owns 5,661,283 shares of the company’s stock worth $108,753,000 after purchasing an additional 948,529 shares during the period. Finally, Neo Ivy Capital Management lifted its position in shares of DoubleVerify by 271.0% during the fourth quarter. Neo Ivy Capital Management now owns 174,897 shares of the company’s stock worth $3,359,000 after purchasing an additional 127,751 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.