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

DoubleVerify Holdings, Inc. (NYSE:DV) CFO Nicola T. Allais sold 2,071 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $20.51, for a total transaction of $42,476.21. Following the completion of the transaction, the chief financial officer now owns 85,882 shares in the company, valued at $1,761,439.82. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

DoubleVerify Stock Down 0.8 %

Shares of DV traded down $0.16 during mid-day trading on Thursday, reaching $19.69. 1,911,630 shares of the stock traded hands, compared to its average volume of 2,293,098. DoubleVerify Holdings, Inc. has a 12-month low of $16.11 and a 12-month high of $43.00. The stock has a fifty day simple moving average of $19.02 and a 200 day simple moving average of $18.90. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 53.22, a P/E/G ratio of 3.29 and a beta of 0.97.

DoubleVerify declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DV shares. Truist Financial reduced their target price on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Morgan Stanley reduced their price target on DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Barclays boosted their target price on DoubleVerify from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Raymond James assumed coverage on DoubleVerify in a report on Wednesday. They set an “outperform” rating and a $25.00 price target on the stock. Finally, Piper Sandler lowered their target price on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DoubleVerify has a consensus rating of “Moderate Buy” and a consensus target price of $24.11.

Institutional Trading of DoubleVerify

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC increased its position in DoubleVerify by 212.5% in the 2nd quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after buying an additional 1,900 shares during the period. Fifth Third Bancorp boosted its position in shares of DoubleVerify by 72.3% during the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after purchasing an additional 1,742 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of DoubleVerify by 2.8% during the second quarter. Louisiana State Employees Retirement System now owns 70,900 shares of the company’s stock worth $1,380,000 after acquiring an additional 1,900 shares in the last quarter. Townsend Asset Management Corp NC ADV lifted its stake in DoubleVerify by 174.2% in the 2nd quarter. Townsend Asset Management Corp NC ADV now owns 30,465 shares of the company’s stock valued at $593,000 after acquiring an additional 19,355 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in DoubleVerify by 29.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,572 shares of the company’s stock worth $712,000 after acquiring an additional 8,335 shares in the last quarter. 97.29% of the stock is 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.