Dynamic Technology Lab Private Ltd Invests $2.58 Million in DoubleVerify Holdings, Inc. (NYSE:DV)

Dynamic Technology Lab Private Ltd acquired a new position in DoubleVerify Holdings, Inc. (NYSE:DV) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 153,268 shares of the company’s stock, valued at approximately $2,581,000. Dynamic Technology Lab Private Ltd owned approximately 0.09% of DoubleVerify at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DV. Algert Global LLC boosted its holdings in DoubleVerify by 311.4% in the third quarter. Algert Global LLC now owns 615,275 shares of the company’s stock worth $10,361,000 after acquiring an additional 465,729 shares in the last quarter. Brown Capital Management LLC raised its position in shares of DoubleVerify by 0.5% in the 3rd quarter. Brown Capital Management LLC now owns 1,762,674 shares of the company’s stock valued at $29,683,000 after purchasing an additional 7,975 shares during the last quarter. Intech Investment Management LLC boosted its stake in DoubleVerify by 127.9% in the 3rd quarter. Intech Investment Management LLC now owns 165,509 shares of the company’s stock worth $2,787,000 after purchasing an additional 92,900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in DoubleVerify during the 3rd quarter worth approximately $2,128,000. Finally, Quest Partners LLC increased its stake in DoubleVerify by 209,440.0% during the 3rd quarter. Quest Partners LLC now owns 31,431 shares of the company’s stock valued at $529,000 after purchasing an additional 31,416 shares in the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DV shares. Morgan Stanley dropped their price objective on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Macquarie reiterated an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a research note on Thursday, November 7th. Canaccord Genuity Group reduced their price objective on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Barclays dropped their target price on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Finally, The Goldman Sachs Group reduced their price target on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, DoubleVerify currently has an average rating of “Moderate Buy” and a consensus price target of $24.47.

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $17.28, for a total transaction of $30,481.92. Following the transaction, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,410,013.44. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 8,820 shares of company stock worth $155,444. 3.00% of the stock is owned by corporate insiders.

DoubleVerify Stock Up 0.4 %

NYSE:DV opened at $20.07 on Monday. The stock has a market capitalization of $3.40 billion, a PE ratio of 54.24, a price-to-earnings-growth ratio of 3.18 and a beta of 0.90. DoubleVerify Holdings, Inc. has a 52 week low of $16.11 and a 52 week high of $43.00. The stock’s 50-day moving average price is $17.81 and its 200-day moving average price is $18.71.

DoubleVerify declared that its board has authorized a stock repurchase program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.