DoubleVerify Holdings, Inc. (NYSE:DV) CFO Nicola T. Allais Sells 2,071 Shares

DoubleVerify Holdings, Inc. (NYSE:DV) CFO Nicola T. Allais sold 2,071 shares of the company’s stock in a transaction that occurred 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 directly owns 85,882 shares in the company, valued at approximately $1,761,439.82. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

DoubleVerify Trading Down 0.8 %

DoubleVerify stock opened at $19.69 on Friday. The company’s 50-day moving average price is $19.07 and its two-hundred day moving average price is $18.90. 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. DoubleVerify Holdings, Inc. has a 52 week low of $16.11 and a 52 week high of $43.00.

DoubleVerify announced that its Board of Directors has approved a stock buyback program on Wednesday, November 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to buy up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On DoubleVerify

A number of institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new position in shares of DoubleVerify during the 3rd quarter valued at $29,000. CWM LLC boosted its stake in DoubleVerify by 212.5% during the second quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after buying an additional 1,900 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in DoubleVerify during the third quarter worth about $49,000. Fifth Third Bancorp raised its position in DoubleVerify by 72.3% in the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after acquiring an additional 1,742 shares in the last quarter. Finally, KBC Group NV lifted its holdings in DoubleVerify by 35.8% in the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock valued at $85,000 after acquiring an additional 1,325 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on DV. Scotiabank initiated coverage on shares of DoubleVerify in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 target price for the company. Truist Financial lowered their price objective on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Macquarie restated an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a research note on Thursday, November 7th. Royal Bank of Canada lowered their target price on DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Finally, JMP Securities cut their price target on DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating on the stock in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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.