DoubleVerify Holdings, Inc. (NYSE:DV) CFO Sells $42,476.21 in Stock

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

DoubleVerify Trading Up 1.4 %

Shares of DV opened at $19.96 on Friday. The firm has a fifty day moving average price of $19.13 and a 200-day moving average price of $18.92. The firm has a market capitalization of $3.38 billion, a P/E ratio of 53.95, a P/E/G ratio of 3.29 and a beta of 0.97. DoubleVerify Holdings, Inc. has a 12-month low of $16.11 and a 12-month high of $43.00.

DoubleVerify announced that its board has initiated a stock repurchase plan on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On DoubleVerify

A number of institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in shares of DoubleVerify by 4.8% during the third quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company’s stock valued at $34,264,000 after buying an additional 94,095 shares during the period. Neo Ivy Capital Management bought a new position in DoubleVerify during the 3rd quarter worth about $794,000. Ashford Capital Management Inc. increased its position in DoubleVerify by 14.2% during the 3rd quarter. Ashford Capital Management Inc. now owns 740,880 shares of the company’s stock valued at $12,476,000 after purchasing an additional 92,020 shares during the period. Geode Capital Management LLC increased its position in DoubleVerify by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock valued at $38,729,000 after purchasing an additional 10,696 shares during the period. Finally, Disciplined Growth Investors Inc. MN bought a new stake in shares of DoubleVerify in the 3rd quarter valued at about $19,457,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Royal Bank of Canada dropped their price target on DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company assumed coverage on shares of DoubleVerify in a report on Monday, October 28th. They issued an “underweight” rating and a $14.00 target price for the company. Macquarie reaffirmed an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a research note on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price objective on shares of DoubleVerify in a research note on Wednesday, December 11th. Finally, Piper Sandler decreased their target price on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.