UniSuper Management Pty Ltd Takes $937,000 Position in DoubleVerify Holdings, Inc. (NYSE:DV)

UniSuper Management Pty Ltd bought a new stake in DoubleVerify Holdings, Inc. (NYSE:DV) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 26,660 shares of the company’s stock, valued at approximately $937,000.

Several other institutional investors also recently bought and sold shares of the stock. Motley Fool Asset Management LLC purchased a new stake in DoubleVerify during the 4th quarter valued at $962,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of DoubleVerify by 62.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 118,415 shares of the company’s stock worth $4,163,000 after purchasing an additional 45,689 shares during the period. Principal Financial Group Inc. grew its stake in shares of DoubleVerify by 9.5% in the fourth quarter. Principal Financial Group Inc. now owns 2,131,473 shares of the company’s stock worth $78,396,000 after purchasing an additional 185,458 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in DoubleVerify by 813.2% during 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 purchasing an additional 3,577,575 shares during the period. Finally, Norden Group LLC bought a new position in DoubleVerify during the 1st quarter valued at approximately $15,297,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Truist Financial cut their price objective on DoubleVerify from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. William Blair lowered shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 8th. Bank of America lowered shares of DoubleVerify from a “buy” rating to an “underperform” rating and cut their target price for the company from $45.00 to $18.00 in a research note on Thursday, May 9th. BMO Capital Markets decreased their price target on shares of DoubleVerify from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Finally, Morgan Stanley lifted their price objective on DoubleVerify from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, DoubleVerify presently has an average rating of “Moderate Buy” and a consensus target price of $33.95.

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 shares were sold at an average price of $31.00, for a total value of $27,900.00. Following the completion of the transaction, the insider now directly owns 145,944 shares of the company’s stock, valued at $4,524,264. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $20.16, for a total transaction of $35,562.24. Following the transaction, the chief financial officer now owns 77,314 shares of the company’s stock, valued at approximately $1,558,650.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $27,900.00. Following the completion of the sale, the insider now owns 145,944 shares of the company’s stock, valued at $4,524,264. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,428 shares of company stock valued at $98,778. 3.00% of the stock is currently owned by insiders.

DoubleVerify Price Performance

Shares of DV stock traded up $0.15 during trading hours on Thursday, reaching $19.86. 95,817 shares of the company traded hands, compared to its average volume of 2,348,281. The firm has a 50-day moving average price of $19.19 and a 200 day moving average price of $29.11. The company has a market cap of $3.41 billion, a P/E ratio of 51.87, a P/E/G ratio of 3.14 and a beta of 0.93. DoubleVerify Holdings, Inc. has a 12-month low of $17.50 and a 12-month high of $43.00.

DoubleVerify (NYSE:DV) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $138.25 million. During the same period last year, the firm earned $0.07 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Sell-side analysts predict that DoubleVerify Holdings, Inc. will post 0.31 EPS for the current year.

DoubleVerify declared that its board has approved a share repurchase program on Thursday, May 16th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

DoubleVerify 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.