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 stock in a transaction on Wednesday, December 18th. The shares were 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

DoubleVerify Stock Performance

Shares of NYSE DV opened at $19.69 on Friday. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 53.22, a PEG ratio of 3.29 and a beta of 0.97. The business has a 50 day simple moving average of $19.07 and a 200 day simple moving average of $18.90. DoubleVerify Holdings, Inc. has a 52 week low of $16.11 and a 52 week high of $43.00.

DoubleVerify declared that its board has authorized 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 reacquire up to 6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC lifted its stake in shares of DoubleVerify by 212.5% in the second quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after buying an additional 1,900 shares during the last quarter. Fifth Third Bancorp grew its holdings in DoubleVerify by 72.3% in the 2nd quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock valued at $81,000 after buying an additional 1,742 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of DoubleVerify by 2.8% during the second quarter. Louisiana State Employees Retirement System now owns 70,900 shares of the company’s stock worth $1,380,000 after buying an additional 1,900 shares during the last quarter. Townsend Asset Management Corp NC ADV boosted its position in shares of DoubleVerify by 174.2% in the second quarter. Townsend Asset Management Corp NC ADV now owns 30,465 shares of the company’s stock valued at $593,000 after acquiring an additional 19,355 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of DoubleVerify by 29.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,572 shares of the company’s stock worth $712,000 after acquiring an additional 8,335 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DV. JPMorgan Chase & Co. reduced their target price on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Macquarie reaffirmed an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research note on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of DoubleVerify in a research report on Wednesday, December 11th. JMP Securities reduced their price target 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. Finally, Wells Fargo & Company initiated coverage on shares of DoubleVerify in a research report on Monday, October 28th. They set an “underweight” rating and a $14.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.11.

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.