DoubleVerify (NYSE:DV) Shares Up 4.3% – Time to Buy?

DoubleVerify Holdings, Inc. (NYSE:DV) was up 4.3% on Wednesday . The stock traded as high as $20.17 and last traded at $20.04. Approximately 676,437 shares were traded during trading, a decline of 45% from the average daily volume of 1,237,505 shares. The stock had previously closed at $19.22.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DV shares. Piper Sandler dropped their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on shares of DoubleVerify from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective on shares of DoubleVerify in a research note on Wednesday, December 11th. Scotiabank initiated coverage on shares of DoubleVerify in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 price objective on the stock. Finally, Wells Fargo & Company initiated coverage on shares of DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, DoubleVerify has a consensus rating of “Moderate Buy” and an average price target of $24.21.

DoubleVerify Stock Performance

The firm has a market capitalization of $3.27 billion, a P/E ratio of 52.22, a PEG ratio of 3.29 and a beta of 0.98. The firm’s 50-day moving average is $19.81 and its 200 day moving average is $19.01.

DoubleVerify announced that its board has approved a stock repurchase plan on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $20.30, for a total value of $35,809.20. Following the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,656,439.40. The trade was a 2.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 5,599 shares of company stock worth $107,233. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new position in shares of DoubleVerify during the 3rd quarter worth about $29,000. GAMMA Investing LLC increased its stake in shares of DoubleVerify by 73.6% during the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after purchasing an additional 863 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of DoubleVerify during the 3rd quarter worth about $49,000. KBC Group NV increased its stake in shares of DoubleVerify by 35.8% during the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after purchasing an additional 1,325 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of DoubleVerify by 22.8% during the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after purchasing an additional 1,235 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.