Jennison Associates LLC Acquires 843,045 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Jennison Associates LLC raised its holdings in DoubleVerify Holdings, Inc. (NYSE:DV) by 426.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,040,759 shares of the company’s stock after purchasing an additional 843,045 shares during the period. Jennison Associates LLC’s holdings in DoubleVerify were worth $38,279,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Signaturefd LLC grew its holdings in shares of DoubleVerify by 84.7% during the fourth quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock worth $40,000 after purchasing an additional 498 shares during the last quarter. Guinness Atkinson Asset Management Inc bought a new stake in DoubleVerify in the third quarter valued at approximately $34,000. Huntington National Bank boosted its holdings in DoubleVerify by 41.6% in the third quarter. Huntington National Bank now owns 1,495 shares of the company’s stock valued at $42,000 after acquiring an additional 439 shares during the last quarter. Park Place Capital Corp boosted its holdings in DoubleVerify by 146.7% in the fourth quarter. Park Place Capital Corp now owns 1,586 shares of the company’s stock valued at $58,000 after acquiring an additional 943 shares during the last quarter. Finally, Nisa Investment Advisors LLC bought a new stake in DoubleVerify in the fourth quarter valued at approximately $59,000. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Performance

Shares of DV opened at $30.79 on Thursday. The stock’s 50-day simple moving average is $34.16 and its 200 day simple moving average is $34.18. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 75.10, a price-to-earnings-growth ratio of 3.26 and a beta of 1.04. DoubleVerify Holdings, Inc. has a 52-week low of $26.23 and a 52-week high of $43.00.

DoubleVerify (NYSE:DV) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. The firm had revenue of $172.23 million for the quarter, compared to analysts’ expectations of $171.85 million. DoubleVerify had a return on equity of 7.29% and a net margin of 12.48%. On average, research analysts forecast that DoubleVerify Holdings, Inc. will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total transaction of $27,270.00. Following the transaction, the insider now directly owns 137,668 shares of the company’s stock, valued at $4,171,340.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $30.30, for a total value of $27,270.00. Following the sale, the insider now directly owns 137,668 shares of the company’s stock, valued at $4,171,340.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew E. Grimmig sold 16,667 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $33.80, for a total value of $563,344.60. Following the completion of the sale, the insider now directly owns 39,468 shares in the company, valued at $1,334,018.40. The disclosure for this sale can be found here. Insiders have sold 86,239 shares of company stock valued at $2,879,693 in the last ninety days. Company insiders own 3.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DV. TheStreet raised DoubleVerify from a “d+” rating to a “c-” rating in a research note on Thursday, February 29th. BMO Capital Markets reissued an “outperform” rating and issued a $42.00 price target (down from $44.00) on shares of DoubleVerify in a research report on Friday, March 1st. Robert W. Baird increased their price target on DoubleVerify from $38.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. KeyCorp increased their price target on DoubleVerify from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. Finally, Truist Financial lowered their price target on DoubleVerify from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.50.

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.