RiverPark Advisors LLC Invests $54,000 in DoubleVerify Holdings, Inc. (NYSE:DV)

RiverPark Advisors LLC purchased a new position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,529 shares of the company’s stock, valued at approximately $54,000.

Several other institutional investors also recently modified their holdings of the stock. Whittier Trust Co. acquired a new position in shares of DoubleVerify during the first quarter worth $28,000. Diversify Advisory Services LLC bought a new stake in shares of DoubleVerify in the first quarter worth $325,000. Norden Group LLC bought a new stake in shares of DoubleVerify in the first quarter worth $1,015,000. Townsend Asset Management Corp NC ADV bought a new stake in shares of DoubleVerify in the first quarter worth $391,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of DoubleVerify in the first quarter worth $180,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

DoubleVerify Stock Performance

Shares of NYSE DV traded down $0.05 during trading on Tuesday, hitting $19.99. 1,768,369 shares of the company traded hands, compared to its average volume of 2,362,924. The business’s fifty day moving average is $20.11 and its 200 day moving average is $30.33. DoubleVerify Holdings, Inc. has a fifty-two week low of $17.50 and a fifty-two week high of $43.00. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 52.61, a P/E/G ratio of 3.09 and a beta of 0.93.

DoubleVerify (NYSE:DV) last posted its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. DoubleVerify had a net margin of 11.25% and a return on equity of 6.46%. The company had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.25 million. During the same quarter in the prior year, the business posted $0.07 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. On average, analysts predict that DoubleVerify Holdings, Inc. will post 0.31 EPS for the current year.

DoubleVerify announced that its board has approved a stock buyback plan on Thursday, May 16th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DV. Macquarie raised shares of DoubleVerify from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Monday, March 11th. Barclays cut their price target on shares of DoubleVerify from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. BMO Capital Markets cut their price target on shares of DoubleVerify from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of DoubleVerify in a research report on Friday, June 14th. Finally, The Goldman Sachs Group cut their price target on shares of DoubleVerify from $38.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.05.

Insider Buying and Selling

In related news, insider Julie Eddleman sold 900 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $31.00, for a total value of $27,900.00. Following the sale, the insider now owns 145,944 shares in the company, valued at approximately $4,524,264. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other DoubleVerify news, CFO Nicola T. Allais sold 5,292 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $30.86, for a total value of $163,311.12. Following the completion of the sale, the chief financial officer now owns 73,030 shares in the company, valued at approximately $2,253,705.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Julie Eddleman sold 900 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $31.00, for a total transaction of $27,900.00. Following the completion of the sale, the insider now owns 145,944 shares of the company’s stock, valued at approximately $4,524,264. The disclosure for this sale can be found here. Insiders have sold 12,384 shares of company stock worth $391,125 in the last quarter. Insiders own 3.00% of the company’s stock.

DoubleVerify Company Profile

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.