DoubleVerify (NYSE:DV) Hits New 12-Month Low - Here's Why

Shares of DoubleVerify Holdings, Inc. (NYSE:DV - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $12.51 and last traded at $12.65, with a volume of 6121 shares trading hands. The stock had previously closed at $13.39.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DV shares. Royal Bank of Canada lifted their price objective on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Canaccord Genuity Group reduced their price target on shares of DoubleVerify from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Cannonball Research cut shares of DoubleVerify to a "neutral" rating in a research report on Sunday, March 2nd. Stifel Nicolaus set a $20.00 price objective on DoubleVerify in a research note on Friday, February 28th. Finally, Bank of America raised DoubleVerify from an "underperform" rating to a "neutral" rating 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.com, the company presently has a consensus rating of "Hold" and an average target price of $22.00.

DoubleVerify Price Performance

The company's 50-day simple moving average is $17.69 and its 200-day simple moving average is $18.47. The stock has a market capitalization of $1.97 billion, a P/E ratio of 31.95, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04.

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Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the transaction, the chief financial officer now directly owns 85,882 shares of the company's stock, valued at $1,855,910.02. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Captrust Financial Advisors grew its stake in shares of DoubleVerify by 61.3% in the third quarter. Captrust Financial Advisors now owns 41,362 shares of the company's stock valued at $697,000 after acquiring an additional 15,714 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of DoubleVerify by 0.3% during the third quarter. Janus Henderson Group PLC now owns 367,314 shares of the company's stock worth $6,185,000 after buying an additional 1,279 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in DoubleVerify by 70.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 91,604 shares of the company's stock valued at $1,543,000 after acquiring an additional 37,841 shares during the period. M&T Bank Corp acquired a new stake in DoubleVerify in the third quarter valued at $384,000. Finally, Disciplined Growth Investors Inc. MN bought a new position in DoubleVerify during the 3rd quarter worth $19,457,000. 97.29% of the stock is owned by institutional investors.

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.