Advisors Preferred LLC Buys New Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Advisors Preferred LLC acquired a new position in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 54,504 shares of the company's stock, valued at approximately $1,050,000.

Several other institutional investors also recently bought and sold shares of DV. True Wealth Design LLC purchased a new stake in shares of DoubleVerify during the third quarter valued at about $29,000. GAMMA Investing LLC lifted its position in DoubleVerify by 73.6% during the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company's stock valued at $39,000 after acquiring an additional 863 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in DoubleVerify during the third quarter valued at approximately $49,000. KBC Group NV boosted its stake in 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 acquiring an additional 1,325 shares in the last quarter. Finally, Covestor Ltd grew its holdings in DoubleVerify by 22.8% in the third quarter. Covestor Ltd now owns 6,643 shares of the company's stock worth $112,000 after purchasing an additional 1,235 shares during the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. JMP Securities reiterated a "market outperform" rating and issued a $25.00 target price on shares of DoubleVerify in a research note on Monday, January 27th. Morgan Stanley lowered their price objective on shares of DoubleVerify from $21.00 to $19.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Raymond James initiated coverage on DoubleVerify in a research report on Wednesday, December 18th. They issued an "outperform" rating and a $25.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on DoubleVerify from $21.00 to $19.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $22.00 price target on shares of DoubleVerify in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

DoubleVerify Price Performance

DV traded up $0.46 on Wednesday, reaching $22.93. 1,575,218 shares of the company's stock were exchanged, compared to its average volume of 1,413,079. DoubleVerify Holdings, Inc. has a twelve month low of $16.11 and a twelve month high of $43.00. The stock has a market cap of $3.88 billion, a PE ratio of 61.97, a P/E/G ratio of 2.56 and a beta of 0.99. The stock's fifty day moving average price is $20.20 and its 200-day moving average price is $19.13.

DoubleVerify announced that its board has authorized a stock repurchase plan on Wednesday, November 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Nicola T. Allais sold 2,220 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the completion of the sale, the chief financial officer now owns 85,882 shares of the company's stock, valued at approximately $1,855,910.02. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 6,055 shares of company stock valued at $126,260 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

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.