Insider Selling: DoubleVerify Holdings, Inc. (NYSE:DV) CFO Sells $35,809.20 in Stock

DoubleVerify Holdings, Inc. (NYSE:DV) CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $20.30, for a total transaction of $35,809.20. Following the transaction, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,656,439.40. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

DoubleVerify Stock Up 0.3 %

NYSE DV opened at $19.35 on Thursday. DoubleVerify Holdings, Inc. has a 12-month low of $16.11 and a 12-month high of $43.00. The firm has a 50-day moving average price of $17.70 and a two-hundred day moving average price of $18.86. The company has a market capitalization of $3.27 billion, a P/E ratio of 52.28, a P/E/G ratio of 3.03 and a beta of 0.90.

DoubleVerify announced that its Board of Directors has initiated a share buyback program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DV shares. JPMorgan Chase & Co. cut their price objective on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Truist Financial reduced their price target on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. JMP Securities dropped their price objective on DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating for the company in a report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price target on shares of DoubleVerify in a research report on Tuesday, September 17th. Finally, BMO Capital Markets lowered their target price on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.47.

Hedge Funds Weigh In On DoubleVerify

A number of hedge funds have recently added to or reduced their stakes in DV. True Wealth Design LLC acquired a new stake in shares of DoubleVerify in the 3rd quarter valued at $29,000. Capital Performance Advisors LLP acquired a new stake in DoubleVerify in the third quarter valued at about $49,000. CWM LLC grew its position in DoubleVerify by 212.5% in the second quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after acquiring an additional 1,900 shares during the last quarter. Fifth Third Bancorp raised its stake in DoubleVerify by 72.3% during the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after acquiring an additional 1,742 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of DoubleVerify by 35.8% in the 3rd 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 in the last quarter. Institutional investors own 97.29% 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.