RiverPark Advisors LLC Invests $54,000 in DoubleVerify Holdings, Inc. (NYSE:DV)

RiverPark Advisors LLC acquired a new position in DoubleVerify Holdings, Inc. (NYSE:DV) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,529 shares of the company’s stock, valued at approximately $54,000.

A number of other institutional investors have also made changes to their positions in DV. Vanguard Group Inc. raised its holdings in DoubleVerify by 15.0% in the 4th quarter. Vanguard Group Inc. now owns 15,510,989 shares of the company’s stock valued at $570,494,000 after acquiring an additional 2,017,687 shares in the last quarter. Capital World Investors raised its holdings in DoubleVerify by 6.0% in the 4th 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 raised 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 in the last quarter. Bank of New York Mellon Corp raised its holdings 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 valued at $130,573,000 after acquiring an additional 31,000 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in DoubleVerify by 19.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,734,735 shares of the company’s stock valued at $76,436,000 after acquiring an additional 441,278 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

Insider Transactions at DoubleVerify

In related news, insider Julie Eddleman sold 900 shares of the firm’s 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 sale, the insider now owns 145,944 shares of the company’s stock, valued at approximately $4,524,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Julie Eddleman sold 900 shares of the firm’s 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 sale, the insider now owns 145,944 shares of the company’s stock, valued at approximately $4,524,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Nicola T. Allais sold 5,292 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $30.86, for a total value of $163,311.12. Following the sale, the chief financial officer now directly owns 73,030 shares in the company, valued at approximately $2,253,705.80. The disclosure for this sale can be found here. Insiders have sold 12,384 shares of company stock worth $391,125 in the last three months. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DV. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of DoubleVerify in a report on Friday, June 14th. Robert W. Baird dropped their target price on DoubleVerify from $42.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. KeyCorp cut DoubleVerify from an “overweight” rating to a “sector weight” rating in a report on Wednesday, May 8th. The Goldman Sachs Group dropped their target price on DoubleVerify from $38.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Bank of America cut DoubleVerify from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $45.00 to $18.00 in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, DoubleVerify presently has an average rating of “Moderate Buy” and a consensus target price of $34.05.

DoubleVerify Stock Performance

DV traded down $0.05 during mid-day trading on Tuesday, reaching $19.99. The stock had a trading volume of 1,768,369 shares, compared to its average volume of 2,362,924. The stock has a market capitalization of $3.43 billion, a P/E ratio of 52.61, a P/E/G ratio of 3.09 and a beta of 0.93. The firm’s fifty day simple moving average is $20.11 and its two-hundred day simple moving average is $30.33. DoubleVerify Holdings, Inc. has a 52 week low of $17.50 and a 52 week high of $43.00.

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

DoubleVerify announced that its board has initiated a stock buyback plan on Thursday, May 16th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.