Pacer Advisors Inc. Raises Stock Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Pacer Advisors Inc. increased its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 5,838.6% in the fourth quarter, Holdings Channel reports. The firm owned 189,025 shares of the company’s stock after acquiring an additional 185,842 shares during the period. Pacer Advisors Inc.’s holdings in DoubleVerify were worth $3,631,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new position in DoubleVerify in the 3rd quarter valued at about $29,000. GAMMA Investing LLC increased its holdings in DoubleVerify by 73.6% during the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after purchasing an additional 863 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of DoubleVerify in the 3rd quarter valued at approximately $49,000. KBC Group NV boosted its stake in shares of DoubleVerify by 35.8% during the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock valued at $85,000 after buying an additional 1,325 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of DoubleVerify by 22.8% during the third quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after buying an additional 1,235 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 2,071 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at $1,761,439.82. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on DV. Barclays reduced their price objective on shares of DoubleVerify from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Macquarie restated an “outperform” rating and issued a $19.00 price target on shares of DoubleVerify in a research report on Thursday, November 7th. Scotiabank began coverage on shares of DoubleVerify in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of DoubleVerify in a report on Monday, October 28th. They issued an “underweight” rating and a $14.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of DoubleVerify in a report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, DoubleVerify has a consensus rating of “Moderate Buy” and an average price target of $24.00.

DoubleVerify Stock Up 0.4 %

Shares of DV stock opened at $20.59 on Friday. DoubleVerify Holdings, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $43.00. The stock has a 50-day simple moving average of $19.96 and a 200 day simple moving average of $19.02. The stock has a market capitalization of $3.48 billion, a P/E ratio of 55.66, a P/E/G ratio of 2.34 and a beta of 0.98.

DoubleVerify announced that its board has initiated a stock buyback program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management 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.