DoubleVerify Holdings, Inc. (NYSE:DV) Shares Bought by Point72 DIFC Ltd

Point72 DIFC Ltd raised its stake in DoubleVerify Holdings, Inc. (NYSE:DV) by 716.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,947 shares of the company’s stock after purchasing an additional 56,993 shares during the quarter. Point72 DIFC Ltd’s holdings in DoubleVerify were worth $1,094,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. lifted its holdings in shares of DoubleVerify by 0.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,014,038 shares of the company’s stock valued at $17,076,000 after acquiring an additional 6,792 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of DoubleVerify by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 367,314 shares of the company’s stock valued at $6,185,000 after acquiring an additional 1,279 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of DoubleVerify during the 3rd quarter valued at $5,283,000. Centiva Capital LP lifted its holdings in shares of DoubleVerify by 162.7% during the 3rd quarter. Centiva Capital LP now owns 146,094 shares of the company’s stock valued at $2,460,000 after acquiring an additional 90,487 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of DoubleVerify during the 3rd quarter valued at $132,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

DoubleVerify Stock Performance

Shares of NYSE DV opened at $21.06 on Thursday. The stock has a market cap of $3.56 billion, a P/E ratio of 56.92, a P/E/G ratio of 3.28 and a beta of 0.97. DoubleVerify Holdings, Inc. has a 52-week low of $16.11 and a 52-week high of $43.00. The firm has a 50 day moving average price of $18.26 and a 200 day moving average price of $18.77.

DoubleVerify declared that its board has initiated a stock repurchase program on Wednesday, November 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $16.92, for a total transaction of $29,846.88. Following the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,380,638.16. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 8,820 shares of company stock valued at $155,444. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DV shares. Stifel Nicolaus dropped their price target on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Truist Financial dropped their price target on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets dropped their price target on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Royal Bank of Canada dropped their price target on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group dropped their price target on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, DoubleVerify currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.47.

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.