Insider Selling: DoubleVerify Holdings, Inc. (NYSE:DV) CFO Sells 1,764 Shares of Stock

DoubleVerify Holdings, Inc. (NYSE:DV) CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $20.30, for a total transaction of $35,809.20. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,656,439.40. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

DoubleVerify Trading Up 0.4 %

Shares of DV opened at $19.28 on Wednesday. The stock has a market cap of $3.26 billion, a P/E ratio of 52.11, a price-to-earnings-growth ratio of 3.03 and a beta of 0.90. 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 $17.68 and its two-hundred day moving average price is $18.85.

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.

Institutional Investors Weigh In On DoubleVerify

Several large investors have recently bought and sold shares of the company. True Wealth Design LLC bought a new stake in shares of DoubleVerify in the third quarter worth about $29,000. Capital Performance Advisors LLP bought a new stake in DoubleVerify during the 3rd quarter worth approximately $49,000. CWM LLC raised its holdings in DoubleVerify by 212.5% during the 2nd 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 period. Fifth Third Bancorp lifted its stake 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 in the last quarter. Finally, KBC Group NV boosted its holdings in shares of DoubleVerify by 35.8% in the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock valued at $85,000 after buying an additional 1,325 shares during the period. Institutional investors own 97.29% of the company’s stock.

Analyst Ratings Changes

DV has been the topic of several research analyst reports. BMO Capital Markets decreased their price objective on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Stifel Nicolaus decreased their price target on DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Morgan Stanley reduced their price objective on DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Barclays lowered their target price on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $33.00 price target on shares of DoubleVerify in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.47.

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.