Renaissance Technologies LLC Trims Position in DoubleVerify Holdings, Inc. $DV

Renaissance Technologies LLC trimmed its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 36.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 797,300 shares of the company’s stock after selling 462,100 shares during the period. Renaissance Technologies LLC owned 0.52% of DoubleVerify worth $7,574,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DV. Bank of Montreal Can increased its stake in DoubleVerify by 2,028.9% in the 4th quarter. Bank of Montreal Can now owns 3,649,995 shares of the company’s stock worth $41,756,000 after buying an additional 3,478,542 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of DoubleVerify by 123.4% in the fourth quarter. AQR Capital Management LLC now owns 5,254,565 shares of the company’s stock valued at $60,112,000 after acquiring an additional 2,902,169 shares in the last quarter. SG Capital Management LLC lifted its position in shares of DoubleVerify by 202.1% in the fourth quarter. SG Capital Management LLC now owns 1,020,892 shares of the company’s stock valued at $11,679,000 after acquiring an additional 2,020,892 shares in the last quarter. Boston Partners bought a new position in shares of DoubleVerify in the fourth quarter worth about $20,642,000. Finally, Arohi Asset Management PTE Ltd. bought a new position in shares of DoubleVerify in the second quarter worth about $17,214,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Up 4.5%

DoubleVerify stock opened at $11.76 on Tuesday. DoubleVerify Holdings, Inc. has a 52-week low of $7.64 and a 52-week high of $16.82. The firm’s fifty day moving average is $10.82 and its 200 day moving average is $10.38. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 1.35 and a beta of 0.97.

Wall Street Analysts Forecast Growth

DV has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price on DoubleVerify from $10.50 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Raymond James Financial reaffirmed an “outperform” rating and set a $14.00 price objective on shares of DoubleVerify in a report on Thursday, May 7th. Wells Fargo & Company lowered their target price on shares of DoubleVerify from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings restated a “sell (d+)” rating on shares of DoubleVerify in a research report on Friday, July 17th. Finally, Wall Street Zen downgraded shares of DoubleVerify from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, DoubleVerify has a consensus rating of “Moderate Buy” and a consensus target price of $15.39.

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.