DoubleVerify (NYSE:DV) Downgraded to Hold Rating by Loop Capital

Loop Capital downgraded shares of DoubleVerify (NYSE:DV) from a buy rating to a hold rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have $16.00 price objective on the stock, down from their previous price objective of $24.00.

A number of other brokerages have also weighed in on DV. Morgan Stanley decreased their target price on shares of DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Macquarie reiterated an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research report on Thursday, November 7th. Canaccord Genuity Group dropped their target price on DoubleVerify from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Raymond James began coverage on DoubleVerify in a research note on Wednesday, December 18th. They set an “outperform” rating and a $25.00 price target for the company. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of DoubleVerify in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, DoubleVerify currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

DoubleVerify Stock Down 4.4 %

Shares of NYSE DV opened at $14.25 on Tuesday. The firm’s 50-day moving average price is $20.34 and its 200-day moving average price is $19.24. DoubleVerify has a 52-week low of $13.42 and a 52-week high of $35.57. The company has a market cap of $2.41 billion, a PE ratio of 38.50, a PEG ratio of 2.63 and a beta of 0.99.

DoubleVerify announced that its Board of Directors has initiated a stock 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 2,220 shares of the firm’s stock in a transaction on 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 transaction, 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 legal filing with the SEC, which is accessible through this link. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of DoubleVerify by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 17,481,297 shares of the company’s stock worth $335,816,000 after purchasing an additional 143,773 shares during the last quarter. Mackenzie Financial Corp grew its holdings in DoubleVerify by 20.1% during the 4th quarter. Mackenzie Financial Corp now owns 5,661,283 shares of the company’s stock valued at $108,753,000 after buying an additional 948,529 shares in the last quarter. Burgundy Asset Management Ltd. increased its stake in DoubleVerify by 73.2% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock worth $94,262,000 after acquiring an additional 2,073,279 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of DoubleVerify by 29.5% during the 4th quarter. AQR Capital Management LLC now owns 2,602,929 shares of the company’s stock worth $50,002,000 after acquiring an additional 592,435 shares in the last quarter. Finally, Geneva Capital Management LLC boosted its position in shares of DoubleVerify by 0.8% during the 4th quarter. Geneva Capital Management LLC now owns 2,574,161 shares of the company’s stock valued at $49,450,000 after acquiring an additional 19,684 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

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.