Nicola T. Allais Sells 2,220 Shares of DoubleVerify Holdings, Inc. (NYSE:DV) Stock

DoubleVerify Holdings, Inc. (NYSE:DV) CFO Nicola T. Allais sold 2,220 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total value of $47,974.20. Following the sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at $1,855,910.02. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

DoubleVerify Trading Up 1.7 %

NYSE DV opened at $22.04 on Thursday. The stock has a market cap of $3.73 billion, a P/E ratio of 59.56, a P/E/G ratio of 2.43 and a beta of 0.99. DoubleVerify Holdings, Inc. has a 12 month low of $16.11 and a 12 month high of $43.00. The stock’s fifty day moving average price is $20.05 and its 200-day moving average price is $19.06.

DoubleVerify declared that its board has authorized a stock buyback program on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DV shares. Royal Bank of Canada boosted their price objective on DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Truist Financial dropped their price objective on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company began coverage on shares of DoubleVerify in a research report on Monday, October 28th. They set an “underweight” rating and a $14.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, Barclays cut their price objective on DoubleVerify from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, DoubleVerify presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Neo Ivy Capital Management purchased a new position in DoubleVerify during the third quarter valued at $794,000. GSA Capital Partners LLP lifted its position in shares of DoubleVerify by 280.9% in the third quarter. GSA Capital Partners LLP now owns 72,309 shares of the company’s stock worth $1,218,000 after buying an additional 53,326 shares in the last quarter. Repertoire Partners LP boosted its position in shares of DoubleVerify by 1,041.7% during the 3rd quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock valued at $11,535,000 after acquiring an additional 625,000 shares during the last quarter. Townsend Asset Management Corp NC ADV grew its stake in shares of DoubleVerify by 259.8% in the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 109,610 shares of the company’s stock worth $1,846,000 after buying an additional 79,145 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in DoubleVerify by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock worth $38,729,000 after acquiring an additional 10,696 shares in 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.