9,022 Shares in DoubleVerify Holdings, Inc. (NYSE:DV) Purchased by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd bought a new stake in DoubleVerify Holdings, Inc. (NYSE:DV) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,022 shares of the company’s stock, valued at approximately $152,000.

Several other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in shares of DoubleVerify during the 3rd quarter worth about $29,000. Capital Performance Advisors LLP bought a new stake in DoubleVerify during the third quarter worth about $49,000. CWM LLC boosted its position in DoubleVerify by 212.5% during the second quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after purchasing an additional 1,900 shares during the last quarter. Fifth Third Bancorp grew its stake in DoubleVerify by 72.3% in the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock valued at $81,000 after purchasing an additional 1,742 shares in the last quarter. Finally, KBC Group NV grew its stake in DoubleVerify by 35.8% in the third 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 Stock Performance

Shares of DoubleVerify stock opened at $20.72 on Tuesday. The firm has a 50-day moving average of $18.13 and a 200-day moving average of $18.75. DoubleVerify Holdings, Inc. has a 52-week low of $16.11 and a 52-week high of $43.00. The stock has a market cap of $3.50 billion, a PE ratio of 55.99, a PEG ratio of 3.22 and a beta of 0.90.

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

Insiders Place Their Bets

In related news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $16.92, for a total transaction of $29,846.88. Following the sale, the chief financial officer now owns 81,598 shares of the company’s stock, 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 through the SEC website. Insiders sold 8,820 shares of company stock worth $155,444 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DV has been the topic of a number of analyst reports. The Goldman Sachs Group dropped their price objective on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. 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 report on Friday, October 25th. JMP Securities decreased their price objective on shares of DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada lowered their price objective 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, Piper Sandler cut their target price on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, DoubleVerify currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.47.

DoubleVerify 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.