Janney Montgomery Scott LLC Takes $475,000 Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Janney Montgomery Scott LLC bought a new stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 24,744 shares of the company’s stock, valued at approximately $475,000.

Several other large investors have also recently modified their holdings of DV. True Wealth Design LLC purchased a new position in DoubleVerify during the 3rd quarter valued at $29,000. GAMMA Investing LLC raised its position in shares of DoubleVerify by 73.6% in the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after acquiring an additional 863 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of DoubleVerify in the 3rd quarter worth $49,000. KBC Group NV raised its position in shares of DoubleVerify by 35.8% in the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after acquiring an additional 1,325 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of DoubleVerify by 22.8% in the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after acquiring an additional 1,235 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

Insider Activity

In related news, CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total value of $47,974.20. Following the completion of the sale, the chief financial officer now owns 85,882 shares of the company’s stock, valued at approximately $1,855,910.02. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 6,055 shares of company stock worth $126,260 over the last quarter. 3.00% of the stock is currently owned by corporate insiders.

DoubleVerify Price Performance

NYSE DV opened at $21.67 on Monday. The company has a market cap of $3.67 billion, a PE ratio of 58.57, a price-to-earnings-growth ratio of 2.56 and a beta of 0.99. The stock’s 50 day simple moving average is $20.10 and its 200-day simple moving average is $19.07. DoubleVerify Holdings, Inc. has a 1-year low of $16.11 and a 1-year high of $43.00.

DoubleVerify announced that its board has approved a stock repurchase plan on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $25.00 price target on shares of DoubleVerify in a research report on Monday, January 27th. Canaccord Genuity Group reduced their price target on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Truist Financial reduced their price target on DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Scotiabank assumed coverage on DoubleVerify in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 target price on the stock. Finally, Stifel Nicolaus reduced their target price on DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

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.