DoubleVerify Holdings, Inc. (NYSE:DV - Get Free Report) CFO Nicola T. Allais sold 1,764 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $20.30, for a total value of $35,809.20. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares of the company's stock, valued at $1,656,439.40. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
DoubleVerify Stock Up 0.4 %
DoubleVerify stock opened at $19.21 on Tuesday. The firm has a 50 day moving average price of $17.65 and a 200-day moving average price of $18.93. DoubleVerify Holdings, Inc. has a twelve month low of $16.11 and a twelve month high of $43.00. The company has a market capitalization of $3.25 billion, a P/E ratio of 51.92, a P/E/G ratio of 3.03 and a beta of 0.90.
DoubleVerify declared that its Board of Directors has authorized a share repurchase program on Wednesday, November 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
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DV has been the topic of a number of recent research reports. Canaccord Genuity Group cut their target price on DoubleVerify from $36.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company assumed coverage on shares of DoubleVerify in a report on Monday, October 28th. They set an "underweight" rating and a $14.00 price objective for the company. Stifel Nicolaus lowered their target price on shares of DoubleVerify from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, October 14th. JMP Securities cut their price target on DoubleVerify from $33.00 to $25.00 and set a "market outperform" rating for the company in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group lowered their price objective on DoubleVerify from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, DoubleVerify has a consensus rating of "Moderate Buy" and an average target price of $24.47.
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Hedge Funds Weigh In On DoubleVerify
Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of DoubleVerify by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company's stock worth $552,974,000 after acquiring an additional 216,370 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of DoubleVerify by 22.0% in the 1st quarter. Russell Investments Group Ltd. now owns 183,243 shares of the company's stock worth $6,443,000 after buying an additional 33,003 shares during the last quarter. NWI Management LP bought a new position in DoubleVerify in the first quarter valued at $1,758,000. UniSuper Management Pty Ltd bought a new position in shares of DoubleVerify during the 1st quarter valued at about $937,000. Finally, Mackenzie Financial Corp purchased a new position in shares of DoubleVerify during the second quarter worth approximately $53,015,000. Hedge funds and other institutional investors own 97.29% of the company's stock.
About DoubleVerify
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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.
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