Nicola T. Allais Sells 2,220 Shares of DoubleVerify Holdings, Inc. (NYSE:DV) 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 shares were 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 $1,855,910.02. This represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

DoubleVerify Price Performance

Shares of DV traded up $0.37 during midday trading on Wednesday, reaching $22.04. The stock had a trading volume of 1,098,805 shares, compared to its average volume of 1,468,759. The company’s fifty day simple moving average is $20.01 and its two-hundred day simple moving average is $19.04. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 59.56, a PEG ratio of 2.43 and a beta of 0.99. DoubleVerify Holdings, Inc. has a 1-year low of $16.11 and a 1-year high of $43.00.

DoubleVerify declared that its board has initiated a stock buyback program on Wednesday, November 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows 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 board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its holdings in DoubleVerify by 9.6% in the third quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock valued at $69,440,000 after purchasing an additional 360,445 shares in the last quarter. Geneva Capital Management LLC boosted its holdings in shares of DoubleVerify by 2.8% in the 3rd quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock valued at $43,017,000 after buying an additional 69,780 shares in the last quarter. Geode Capital Management LLC raised its stake in DoubleVerify by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock worth $38,729,000 after acquiring an additional 10,696 shares in the last quarter. Principal Financial Group Inc. lifted its position in DoubleVerify by 4.8% in the third quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company’s stock valued at $34,264,000 after acquiring an additional 94,095 shares during the last quarter. Finally, Brown Capital Management LLC boosted its stake in DoubleVerify by 0.5% in the third quarter. Brown Capital Management LLC now owns 1,762,674 shares of the company’s stock valued at $29,683,000 after acquiring an additional 7,975 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on DV shares. Stifel Nicolaus decreased their target price on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Truist Financial lowered their price objective on DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. BMO Capital Markets reduced 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. Piper Sandler decreased their price target on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DoubleVerify currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

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.