Nicola T. Allais Sells 2,220 Shares of DoubleVerify Holdings, Inc. (NYSE:DV) Stock

DoubleVerify Holdings, Inc. (NYSE:DV) CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total value of $47,974.20. Following the completion of the transaction, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at approximately $1,855,910.02. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

DoubleVerify Stock Performance

Shares of NYSE:DV opened at $21.71 on Friday. The firm has a 50 day simple moving average of $20.07 and a 200 day simple moving average of $19.08. DoubleVerify Holdings, Inc. has a 52 week low of $16.11 and a 52 week high of $43.00. The company has a market cap of $3.67 billion, a PE ratio of 58.67, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC increased its stake in DoubleVerify by 1,079.0% in the 2nd quarter. AQR Capital Management LLC now owns 142,835 shares of the company’s stock valued at $2,711,000 after buying an additional 130,720 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of DoubleVerify by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock worth $663,000 after acquiring an additional 1,218 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of DoubleVerify during the second quarter worth $230,000. Cetera Investment Advisers boosted its position in DoubleVerify by 17.6% during the second quarter. Cetera Investment Advisers now owns 148,396 shares of the company’s stock valued at $2,889,000 after purchasing an additional 22,244 shares during the last quarter. Finally, CWM LLC grew its stake in DoubleVerify by 714.5% in the third quarter. CWM LLC now owns 22,758 shares of the company’s stock valued at $383,000 after purchasing an additional 19,964 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on DV. Scotiabank assumed coverage on shares of DoubleVerify in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 target price for the company. Barclays decreased their price objective on shares of DoubleVerify from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. BMO Capital Markets dropped their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company began coverage on DoubleVerify in a research note on Monday, October 28th. They set an “underweight” rating and a $14.00 price target for the company. Finally, Truist Financial dropped their price objective on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Two equities research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

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.