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 stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $20.51, for a total value of $42,476.21. Following the completion of the transaction, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at approximately $1,761,439.82. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

DoubleVerify Trading Up 1.4 %

Shares of DV opened at $19.96 on Friday. The stock has a market cap of $3.38 billion, a P/E ratio of 53.95, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97. DoubleVerify Holdings, Inc. has a 1 year low of $16.11 and a 1 year high of $43.00. The stock’s 50-day moving average price is $19.13 and its two-hundred day moving average price is $18.92.

DoubleVerify declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on DV shares. 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. Scotiabank started coverage on shares of DoubleVerify in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 price target on the stock. Piper Sandler dropped their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JMP Securities decreased their price target on DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Thursday, November 7th. Finally, BMO Capital Markets cut their price objective on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, DoubleVerify has a consensus rating of “Moderate Buy” and a consensus price target of $24.11.

Institutional Investors Weigh In On DoubleVerify

Several large investors have recently bought and sold shares of DV. Assenagon Asset Management S.A. lifted its holdings in shares of DoubleVerify by 9.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock valued at $69,440,000 after purchasing an additional 360,445 shares in the last quarter. Van Berkom & Associates Inc. lifted its stake in DoubleVerify by 25.9% in the second quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock valued at $59,310,000 after buying an additional 626,586 shares in the last quarter. Burgundy Asset Management Ltd. bought a new stake in shares of DoubleVerify during the second quarter worth $54,099,000. Mackenzie Financial Corp bought a new stake in shares of DoubleVerify during the second quarter worth $53,015,000. Finally, Geneva Capital Management LLC raised its holdings in shares of DoubleVerify by 2.8% during the third quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock worth $43,017,000 after acquiring an additional 69,780 shares during the period. Institutional investors own 97.29% of the company’s stock.

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.