Seven Eight Capital LP Purchases Shares of 23,044 DoubleVerify Holdings, Inc. (NYSE:DV)

Seven Eight Capital LP purchased a new stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 23,044 shares of the company’s stock, valued at approximately $810,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Motley Fool Asset Management LLC acquired a new position in DoubleVerify during the fourth quarter valued at approximately $962,000. Oppenheimer Asset Management Inc. lifted its position in shares of DoubleVerify by 62.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 118,415 shares of the company’s stock worth $4,163,000 after purchasing an additional 45,689 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of DoubleVerify by 9.5% during the fourth quarter. Principal Financial Group Inc. now owns 2,131,473 shares of the company’s stock worth $78,396,000 after purchasing an additional 185,458 shares in the last quarter. Congress Asset Management Co. MA lifted its position in shares of DoubleVerify by 813.2% during the first quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock worth $141,255,000 after purchasing an additional 3,577,575 shares in the last quarter. Finally, Norden Group LLC acquired a new position in shares of DoubleVerify during the first quarter worth $15,297,000. 97.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on DV shares. Morgan Stanley boosted their target price on shares of DoubleVerify from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday. BMO Capital Markets reduced their target price on shares of DoubleVerify from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Stifel Nicolaus reduced their target price on shares of DoubleVerify from $37.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. The Goldman Sachs Group cut their price target on shares of DoubleVerify from $38.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, JMP Securities cut their price target on shares of DoubleVerify from $40.00 to $34.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.95.

DoubleVerify Stock Up 0.4 %

DV stock traded up $0.09 during trading on Tuesday, hitting $20.34. 1,165,139 shares of the company’s stock traded hands, compared to its average volume of 2,354,007. DoubleVerify Holdings, Inc. has a 52 week low of $17.50 and a 52 week high of $43.00. The stock has a fifty day moving average price of $19.18 and a two-hundred day moving average price of $29.18. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 53.53, a price-to-earnings-growth ratio of 3.08 and a beta of 0.93.

DoubleVerify (NYSE:DV) last released its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. DoubleVerify had a net margin of 11.25% and a return on equity of 6.46%. The firm had revenue of $140.70 million during the quarter, compared to analyst estimates of $138.25 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities research analysts expect that DoubleVerify Holdings, Inc. will post 0.31 EPS for the current fiscal year.

DoubleVerify declared that its Board of Directors has initiated a share buyback plan on Thursday, May 16th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $20.16, for a total transaction of $35,562.24. Following the completion of the transaction, the chief financial officer now owns 77,314 shares in the company, valued at $1,558,650.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $20.16, for a total transaction of $35,562.24. Following the completion of the transaction, the chief financial officer now owns 77,314 shares in the company, valued at $1,558,650.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Nicola T. Allais sold 5,292 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $30.86, for a total transaction of $163,311.12. Following the completion of the transaction, the chief financial officer now owns 73,030 shares of the company’s stock, valued at approximately $2,253,705.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,720 shares of company stock worth $262,089. Insiders own 3.00% 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.