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 on Wednesday, December 18th. The shares were 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 in the company, valued at approximately $1,761,439.82. This trade represents 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 hyperlink.

DoubleVerify Stock Up 1.4 %

Shares of NYSE:DV opened at $19.96 on Friday. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 53.95, a PEG ratio of 3.29 and a beta of 0.97. The business has a 50 day moving average price of $19.13 and a 200 day moving average price of $18.92. DoubleVerify Holdings, Inc. has a twelve month low of $16.11 and a twelve month high of $43.00.

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

Hedge Funds Weigh In On DoubleVerify

Large investors have recently bought and sold shares of the stock. True Wealth Design LLC acquired a new position in DoubleVerify in the 3rd quarter valued at approximately $29,000. Capital Performance Advisors LLP acquired a new position in shares of DoubleVerify in the third quarter valued at $49,000. CWM LLC lifted its position in DoubleVerify by 212.5% in the second quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after purchasing an additional 1,900 shares during the period. Fifth Third Bancorp boosted its stake in 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 buying an additional 1,742 shares in the last quarter. Finally, KBC Group NV increased its holdings in DoubleVerify by 35.8% in 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 period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on DV. Scotiabank assumed coverage on DoubleVerify in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 price target on the stock. Stifel Nicolaus reduced their price target on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Wells Fargo & Company assumed coverage on shares of DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of DoubleVerify in a report on Wednesday, December 11th. Finally, Morgan Stanley cut their price objective on DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.11.

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.