Andrew E. Grimmig, the Chief Legal Officer of DoubleVerify Holdings , Inc. (NYSE:DV), a company specializing in computer programming and data processing, has engaged in significant trading activity, according to the latest SEC filings. On April 4, 2024, Grimmig sold 16,667 shares of common stock at a weighted average price of $33.798 per share, totaling over $560,000.
The transactions were conducted under a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a predetermined plan for buying or selling stocks at a time when they are not in possession of material non-public information. The sales took place in multiple transactions ranging from $33.47 to $34.05, as disclosed in the footnotes of the filing.
On the same day, Grimmig also exercised options to buy 16,667 shares of DoubleVerify Holdings at a price of $6.45 per share, amounting to a total of $107,502. These options were part of a grant made on April 27, 2020, with a vesting schedule contingent upon his continued employment with the company.
Following the reported transactions, Grimmig's direct ownership in DoubleVerify Holdings stands at 39,468 shares of common stock. The options exercised are part of a larger grant that, upon full vesting, will result in Grimmig holding a total of 167,840 shares, should he remain with the company until the vesting completion.
Investors and market watchers often look to insider buying and selling as an indicator of company health and executive sentiment. Transactions like these are routinely disclosed to the public through SEC filings and provide transparency into the financial moves of company insiders.
For further details on the transactions or to obtain additional information regarding the sales at each separate price within the range, interested parties can request full information from the reporting person or DoubleVerify Holdings.
InvestingPro Insights
As DoubleVerify Holdings, Inc. (NYSE:DV) makes headlines with its CLO's recent trading activity, investors are closely monitoring the company's financial health and market performance. According to InvestingPro, DoubleVerify is in a strong cash position, holding more cash than debt on its balance sheet, which may instill confidence in investors about the company's financial stability.
The company also boasts impressive gross profit margins, with real-time data showing a gross profit margin of 81.38% for the last twelve months as of Q4 2023. This indicates a robust ability to control costs and maximize revenue from their services. However, it's worth noting that 7 analysts have revised their earnings expectations downwards for the upcoming period, suggesting potential challenges ahead.
InvestingPro Data further reveals that DoubleVerify is trading at a high earnings multiple, with a P/E ratio of 77.02 and an adjusted P/E ratio for the last twelve months as of Q4 2023 at 78.83. This could indicate that the stock is priced optimistically relative to its earnings. Additionally, the company's shares are currently trading at 76.19% of their 52-week high, with a previous close price of $32.76.
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