DoubleVerify CFO sells over $348k in company stock
Investing.com
Published Apr 15, 2024 22:38
In a recent move, Nicola T. Allais, the Chief Financial Officer of DoubleVerify Holdings , Inc. (NYSE:DV), has sold a significant amount of company stock. According to the latest filings, Allais sold a total of 10,584 shares of DoubleVerify stock, with transactions taking place on April 11 and 12.
The shares were sold at weighted average prices that varied between transactions. On April 11, the shares were sold at prices ranging from $33.11 to $33.49, with a weighted average of $33.3834. The following day, the prices ranged from $32.43 to $32.86, with a weighted average of $32.5284. The total value of the shares sold across these two days amounted to approximately $348,805.
In addition to the sales, Allais also acquired 10,584 shares of DoubleVerify's common stock through the exercise of options at a price of $2.01 per share. These transactions were reported to have a total value of $21,273. It is noted that these options were part of a non-qualified stock option grant that fully vested on November 6, 2021, under the condition of continued employment.
The sales conducted by Allais were executed in accordance with a Rule 10b5-1 trading plan, which was adopted on November 14, 2023. Rule 10b5-1 trading plans allow company insiders to establish pre-planned transactions at a time when they are not in possession of material non-public information, providing a defense against accusations of insider trading.
Following these transactions, the SEC filing indicates that Allais now owns 73,030 shares of DoubleVerify directly. The company, which specializes in computer programming, data processing, and other technology services, is incorporated in Delaware and has its headquarters in New York City.
Investors and followers of DoubleVerify Holdings, Inc. will likely keep an eye on the trading activities of its executives as an indicator of their confidence in the company's future performance.
h2 InvestingPro Insights/h2As DoubleVerify Holdings, Inc. (NYSE:DV) navigates through the dynamic tech sector, certain financial metrics and expert analyses can provide investors with a deeper understanding of the company's valuation and operational performance. Here are some insights based on the latest data from InvestingPro:
InvestingPro Data shows DoubleVerify's market capitalization standing at $5.33 billion, reflecting the market's current valuation of the company. The P/E ratio, a measure of a company's current share price relative to its per-share earnings, is relatively high at 72.89, suggesting that investors may expect higher earnings growth in the future compared to the company's current earnings. This is further substantiated by a PEG ratio of 1.21, indicating potential for future earnings growth in relation to the P/E ratio.
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The company has demonstrated robust financial health, with a Gross Profit Margin of 81.38% in the last twelve months as of Q1 2023, showcasing its ability to manage costs effectively while generating revenue. This is a critical aspect for investors, especially when considering the company's ability to sustain and grow its profits over time.
InvestingPro Tips highlight that DoubleVerify holds more cash than debt on its balance sheet and has liquid assets that exceed short-term obligations, providing the company with a strong liquidity position. Additionally, the company's cash flows can sufficiently cover interest payments, indicating financial stability and a lower risk of distress from financial obligations.
Investors looking to delve deeper into DoubleVerify's financials and future prospects can find additional insights on InvestingPro, which offers a comprehensive array of metrics and analyses. There are 12 more InvestingPro Tips available at https://www.investing.com/pro/DV, which can further guide investment decisions. For those interested, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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Written By: Investing.com
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