Nicola T. Allais Sells 2,071 Shares of DoubleVerify Holdings, Inc. (NYSE:DV) Stock

DoubleVerify Holdings, Inc. (NYSE:DV) CFO Nicola T. Allais sold 2,071 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $20.51, for a total value of $42,476.21. Following the sale, the chief financial officer now owns 85,882 shares of the company’s stock, valued at $1,761,439.82. This trade represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

DoubleVerify Trading Up 1.4 %

NYSE DV opened at $19.96 on Friday. DoubleVerify Holdings, Inc. has a twelve month low of $16.11 and a twelve month high of $43.00. The stock has a 50-day moving average of $19.13 and a 200 day moving average of $18.92. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 53.95, a PEG ratio of 3.29 and a beta of 0.97.

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

Institutional Investors Weigh In On DoubleVerify

Institutional investors have recently added to or reduced their stakes in the stock. United Services Automobile Association raised its position in DoubleVerify by 7.4% during the second quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock worth $210,000 after acquiring an additional 746 shares during the period. Arizona State Retirement System raised its position in shares of DoubleVerify by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock worth $793,000 after purchasing an additional 927 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in DoubleVerify by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock valued at $663,000 after buying an additional 1,218 shares in the last quarter. Covestor Ltd boosted its holdings in DoubleVerify by 22.8% in the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after buying an additional 1,235 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in DoubleVerify by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 367,314 shares of the company’s stock worth $6,185,000 after buying an additional 1,279 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Analysts Set New Price Targets

DV has been the subject of several analyst reports. Macquarie reissued an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a research report on Thursday, November 7th. The Goldman Sachs Group decreased their target price on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Royal Bank of Canada cut their price target on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Canaccord Genuity Group decreased their price objective on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Piper Sandler dropped their target price on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.11.

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.