Insider Selling: DoubleVerify Holdings, Inc. (NYSE:DV) CFO Sells 2,220 Shares of Stock

DoubleVerify Holdings, Inc. (NYSE:DV) CFO Nicola T. Allais sold 2,220 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total transaction of $47,974.20. Following the completion of the sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at approximately $1,855,910.02. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

DoubleVerify Stock Up 1.7 %

Shares of NYSE:DV traded up $0.37 during trading on Wednesday, hitting $22.04. 1,098,805 shares of the stock traded hands, compared to its average volume of 1,468,759. The company has a fifty day moving average price of $20.01 and a two-hundred day moving average price of $19.04. DoubleVerify Holdings, Inc. has a 52-week low of $16.11 and a 52-week high of $43.00. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 59.56, a P/E/G ratio of 2.43 and a beta of 0.99.

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

Institutional Investors Weigh In On DoubleVerify

Institutional investors have recently modified their holdings of the business. Neo Ivy Capital Management purchased a new position in DoubleVerify during the third quarter worth approximately $794,000. GSA Capital Partners LLP grew its stake in DoubleVerify by 280.9% in the 3rd quarter. GSA Capital Partners LLP now owns 72,309 shares of the company’s stock valued at $1,218,000 after acquiring an additional 53,326 shares during the period. Repertoire Partners LP increased its holdings in DoubleVerify by 1,041.7% in the 3rd quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock worth $11,535,000 after acquiring an additional 625,000 shares in the last quarter. Townsend Asset Management Corp NC ADV raised its position in DoubleVerify by 259.8% during the third quarter. Townsend Asset Management Corp NC ADV now owns 109,610 shares of the company’s stock worth $1,846,000 after acquiring an additional 79,145 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in DoubleVerify by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock worth $38,729,000 after buying an additional 10,696 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DV has been the subject of several research reports. Macquarie reaffirmed an “outperform” rating and issued a $19.00 price target on shares of DoubleVerify in a research report on Thursday, November 7th. BMO Capital Markets dropped their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company assumed coverage on DoubleVerify in a research note on Monday, October 28th. They set an “underweight” rating and a $14.00 price objective for the company. Scotiabank assumed coverage on shares of DoubleVerify in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 target price for the company. Finally, The Goldman Sachs Group lowered their price target on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

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.