DoubleVerify Holdings, Inc. (NYSE:DV) CFO Sells $47,974.20 in Stock

DoubleVerify Holdings, Inc. (NYSE:DV) CFO Nicola T. Allais sold 2,220 shares of DoubleVerify stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total transaction of $47,974.20. Following the completion of the transaction, the chief financial officer now directly owns 85,882 shares in the company, valued at approximately $1,855,910.02. The trade was a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

DoubleVerify Stock Down 0.3 %

NYSE:DV opened at $21.67 on Friday. DoubleVerify Holdings, Inc. has a 12-month low of $16.11 and a 12-month high of $43.00. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 58.57, a P/E/G ratio of 2.43 and a beta of 0.99. The stock’s 50 day moving average price is $20.10 and its two-hundred day moving average price is $19.09.

DoubleVerify announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Stifel Nicolaus cut their price objective on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. JPMorgan Chase & Co. reduced their price objective on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Morgan Stanley decreased their price objective on DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of DoubleVerify in a research note on Wednesday, December 11th. Finally, Macquarie reaffirmed an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Hedge Funds Weigh In On DoubleVerify

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DV. Smartleaf Asset Management LLC lifted its stake in shares of DoubleVerify by 168.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock worth $30,000 after buying an additional 981 shares during the last quarter. True Wealth Design LLC bought a new position in DoubleVerify in the 3rd quarter valued at about $29,000. GAMMA Investing LLC lifted its position in DoubleVerify by 73.6% during the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after acquiring an additional 863 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of DoubleVerify during the third quarter worth approximately $49,000. Finally, KBC Group NV grew its position in shares of DoubleVerify by 35.8% in the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock valued at $85,000 after purchasing an additional 1,325 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

About DoubleVerify

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.