Sunday, June 26, 2022

Selling Buzz: DoubleVerify Holdings Inc. [DV] Director Desmond Laura sells 14,570 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. DoubleVerify Holdings Inc. shares valued at $332,401 were sold by Desmond Laura on Jun 08. At $22.81 per share, Desmond Laura sold 14,570 shares. The insider’s holdings dropped to 179,071 shares worth approximately $4.03 million following the completion of this transaction.

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Also, Desmond Laura sold 11,403 shares, netting a total of over 252,905 in proceeds. Following the sale of shares at $22.18 each, the insider now holds 179,071 shares.

Before that, Desmond Laura had sold 11,403 shares from its account. In a trade valued at $240,555, the Director traded DoubleVerify Holdings Inc. shares for $21.10 each. Upon closing the transaction, the insider’s holdings decreased to 11,403 shares, worth approximately $4.03 million.

As published in their initiating research note from BMO Capital Markets on February 23, 2022, DoubleVerify Holdings Inc. [DV] has been an Outperform and the price target has been revised to $37. This represents a 39.11% premium over Wednesday’s closing price. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in late February. As of February 01, 2022, Stifel has initiated its “Buy” rating for DV. Earlier on November 22, 2021, Truist upgraded its rating. Their new recommendation was “a Buy” for DV stock which previously was a “a Hold”.

Analyzing DV’s Price Performance

On Wednesday, DoubleVerify Holdings Inc. [NYSE: DV] rose 3.68% to $22.53. The stock’s lowest price that day was $21.245, but it reached a high of $23.469 in the same session. During the last five days, there has been a surge of approximately 6.78%. Over the course of the year, DoubleVerify Holdings Inc. shares have dropped approximately -32.30%. Shares of the company reached a 52-week high of $33.61 on 01/03/22 and a 52-week low of $17.22 on 05/10/22. A 50-day SMA is recorded $22.11, while a 200-day SMA reached $28.22. Nevertheless, trading volume fell to 1.23 million shares from 0.8 million shares the previous day.

Support And Resistance Levels for DoubleVerify Holdings Inc. (DV)

According to the 24-hour chart, there is a support level at 21.36, which, if violated, would cause prices to drop to 20.19. In the upper region, resistance lies at 23.58. The next price resistance is at 24.64. RSI (Relative Strength Index) is 53.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.24, which suggests the price will decrease in the coming days. Percent R is at 32.02%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of DoubleVerify Holdings Inc. (DV)?

According to Fidelity Management & Research Co filings, the company currently owns 6,781,079 shares, which is about 4.15% of the total DV shares outstanding. The investor’s shares have plunged by -3,469,864 from its previous 13-F filing of 10250943.0 shares. With the completion of the sale, Tiger Global Management LLC’s stake is now worth $142,845,000. The Vanguard Group, Inc. acquire a 1.21% interest valued at $89.38 million while T. Rowe Price Associates, Inc. purchased a 120,431 stake. A total of 382,000 shares of DoubleVerify Holdings Inc. were bought by Capital Research & Management Co during the quarter, and 1,283,438 were bought by BlackRock Investment Management. In its current portfolio, Van Berkom & Associates, Inc. holds 2,016,551 shares valued at $44.87 million.

In terms of DoubleVerify Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $31.91 in the next 12 months, up nearly 38.06% from the previous closing price of $21.73. Analysts anticipate DoubleVerify Holdings Inc. stock to reach $42.00 by 2022, with the lowest price target being $21.00. In spite of this, 13 analysts ranked DoubleVerify Holdings Inc. stock as a Buy at the end of 2022.

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