DoubleVerify Holdings, Inc. (NYSE:DV) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its holdings in DoubleVerify Holdings, Inc. (NYSE:DV) by 89.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the company’s stock after selling 1,663,058 shares during the period. Massachusetts Financial Services Co. MA owned about 0.12% of DoubleVerify worth $3,368,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DV. Price T Rowe Associates Inc. MD boosted its holdings in shares of DoubleVerify by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,506,834 shares of the company’s stock worth $52,981,000 after buying an additional 14,224 shares during the period. Kennedy Capital Management LLC acquired a new position in shares of DoubleVerify in the first quarter worth about $4,835,000. Janus Henderson Group PLC boosted its holdings in shares of DoubleVerify by 550.3% in the first quarter. Janus Henderson Group PLC now owns 396,111 shares of the company’s stock worth $13,928,000 after buying an additional 335,197 shares during the period. California State Teachers Retirement System boosted its holdings in shares of DoubleVerify by 7.3% in the first quarter. California State Teachers Retirement System now owns 144,794 shares of the company’s stock worth $5,091,000 after buying an additional 9,881 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in shares of DoubleVerify by 91.1% in the first quarter. Cetera Investment Advisers now owns 126,152 shares of the company’s stock worth $4,436,000 after buying an additional 60,146 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $20.30, for a total value of $35,809.20. Following the transaction, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,656,439.40. 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 can be accessed through this hyperlink. Insiders have sold a total of 8,820 shares of company stock valued at $155,444 over the last 90 days. 3.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on DV shares. Morgan Stanley decreased their target price on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group decreased their price target on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, October 14th. JPMorgan Chase & Co. decreased their price target on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus decreased their price target on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Wells Fargo & Company assumed coverage on shares of DoubleVerify in a report on Monday, October 28th. They set an “underweight” rating and a $14.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, DoubleVerify presently has a consensus rating of “Moderate Buy” and an average target price of $24.47.

DoubleVerify Stock Down 0.6 %

NYSE:DV opened at $20.50 on Wednesday. DoubleVerify Holdings, Inc. has a 12 month low of $16.11 and a 12 month high of $43.00. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 55.41, a P/E/G ratio of 3.18 and a beta of 0.90. The company’s 50 day moving average is $17.88 and its 200-day moving average is $18.72.

DoubleVerify declared that its Board of Directors has initiated a share 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is 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.