Covestor Ltd Buys 1,235 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Covestor Ltd grew its stake in DoubleVerify Holdings, Inc. (NYSE:DV) by 22.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,643 shares of the company’s stock after buying an additional 1,235 shares during the period. Covestor Ltd’s holdings in DoubleVerify were worth $112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in DoubleVerify during the 3rd quarter worth approximately $49,000. CWM LLC raised its stake in DoubleVerify by 212.5% during the second quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after buying an additional 1,900 shares during the last quarter. Fifth Third Bancorp lifted its holdings in DoubleVerify by 72.3% in the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock valued at $81,000 after buying an additional 1,742 shares during the period. Parkside Financial Bank & Trust boosted its position in DoubleVerify by 37.6% during the second quarter. Parkside Financial Bank & Trust now owns 6,604 shares of the company’s stock valued at $129,000 after acquiring an additional 1,806 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in DoubleVerify during the 2nd quarter worth about $155,000. 97.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Friday, September 27th. The stock was sold at an average price of $17.28, for a total transaction of $30,481.92. Following the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,410,013.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 7,056 shares of company stock valued at $119,634 over the last three months. Corporate insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JMP Securities dropped their price objective on DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price objective on shares of DoubleVerify in a research note on Tuesday, September 17th. Royal Bank of Canada cut their target price on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Wells Fargo & Company began coverage on shares of DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 price target for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.47.

DoubleVerify Stock Performance

Shares of DV stock opened at $20.40 on Wednesday. DoubleVerify Holdings, Inc. has a 52-week low of $16.11 and a 52-week high of $43.00. The company has a 50-day simple moving average of $17.56 and a two-hundred day simple moving average of $19.22. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 55.12, a PEG ratio of 2.45 and a beta of 0.90.

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

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.