Lazard Asset Management LLC Boosts Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Lazard Asset Management LLC raised its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 9,669.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 234,862 shares of the company’s stock after purchasing an additional 232,458 shares during the quarter. Lazard Asset Management LLC owned 0.14% of DoubleVerify worth $8,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in DoubleVerify by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock valued at $552,974,000 after buying an additional 216,370 shares in the last quarter. Capital World Investors grew its stake in DoubleVerify by 6.0% during the fourth quarter. Capital World Investors now owns 5,283,932 shares of the company’s stock valued at $194,343,000 after acquiring an additional 301,011 shares in the last quarter. Congress Asset Management Co. MA increased its holdings in DoubleVerify by 813.2% in the 1st quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock valued at $141,255,000 after acquiring an additional 3,577,575 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in DoubleVerify by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 3,713,684 shares of the company’s stock worth $130,573,000 after purchasing an additional 31,000 shares in the last quarter. Finally, Geneva Capital Management LLC boosted its holdings in shares of DoubleVerify by 44.9% during the 1st quarter. Geneva Capital Management LLC now owns 2,746,886 shares of the company’s stock valued at $96,581,000 after purchasing an additional 851,346 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BMO Capital Markets decreased their target price on DoubleVerify from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Capital One Financial cut shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Piper Sandler decreased their price objective on DoubleVerify from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of DoubleVerify in a research report on Friday, June 14th. Finally, Robert W. Baird decreased their target price on DoubleVerify from $42.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.06.

DoubleVerify Price Performance

DoubleVerify stock opened at $20.46 on Monday. DoubleVerify Holdings, Inc. has a 1-year low of $17.50 and a 1-year high of $43.00. The business has a fifty day moving average price of $19.24 and a 200-day moving average price of $28.86. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 54.00, a PEG ratio of 3.16 and a beta of 0.93.

DoubleVerify (NYSE:DV) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.25 million. DoubleVerify had a return on equity of 6.46% and a net margin of 11.25%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company earned $0.07 earnings per share. On average, equities research analysts anticipate that DoubleVerify Holdings, Inc. will post 0.31 earnings per share for the current fiscal year.

DoubleVerify announced that its board has approved a stock repurchase plan on Thursday, May 16th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at DoubleVerify

In other news, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $31.00, for a total transaction of $27,900.00. Following the completion of the sale, the insider now directly owns 145,944 shares in the company, valued at $4,524,264. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $20.16, for a total transaction of $35,562.24. Following the completion of the sale, the chief financial officer now directly owns 77,314 shares in the company, valued at approximately $1,558,650.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Julie Eddleman sold 900 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $31.00, for a total transaction of $27,900.00. Following the completion of the sale, the insider now owns 145,944 shares in the company, valued at approximately $4,524,264. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,428 shares of company stock worth $98,778. 3.00% of the stock is owned by corporate insiders.

DoubleVerify Company Profile

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.