Alberta Investment Management Corp acquired a new position in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 304,240 shares of the company's stock, valued at approximately $5,844,000. Alberta Investment Management Corp owned approximately 0.18% of DoubleVerify at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. New York State Common Retirement Fund grew its stake in shares of DoubleVerify by 14.8% during the fourth quarter. New York State Common Retirement Fund now owns 506,427 shares of the company's stock valued at $9,728,000 after purchasing an additional 65,270 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of DoubleVerify by 7.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 108,878 shares of the company's stock valued at $2,092,000 after purchasing an additional 7,208 shares during the last quarter. Advisors Preferred LLC bought a new stake in shares of DoubleVerify during the fourth quarter valued at approximately $1,050,000. Yorktown Management & Research Co Inc bought a new stake in shares of DoubleVerify during the fourth quarter valued at approximately $290,000. Finally, Laurus Investment Counsel Inc. grew its stake in shares of DoubleVerify by 39.0% during the fourth quarter. Laurus Investment Counsel Inc. now owns 859,580 shares of the company's stock valued at $16,513,000 after purchasing an additional 241,295 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.
Analyst Ratings Changes
Several analysts have recently commented on the stock. Needham & Company LLC reissued a "buy" rating and set a $22.00 price target on shares of DoubleVerify in a research note on Wednesday, December 11th. Canaccord Genuity Group reduced their price objective on shares of DoubleVerify from $36.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Scotiabank began coverage on shares of DoubleVerify in a research note on Thursday, December 5th. They issued a "sector outperform" rating and a $24.00 price objective on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $25.00 price objective on shares of DoubleVerify in a research note on Monday, January 27th. Finally, Wells Fargo & Company began coverage on shares of DoubleVerify in a research note on Monday, October 28th. They issued an "underweight" rating and a $14.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, DoubleVerify currently has an average rating of "Moderate Buy" and a consensus price target of $24.00.
Read Our Latest Analysis on DoubleVerify
DoubleVerify Stock Performance
NYSE DV traded down $0.66 during trading hours on Friday, reaching $21.70. 1,164,159 shares of the company's stock were exchanged, compared to its average volume of 1,155,615. The company's 50-day moving average is $20.50 and its two-hundred day moving average is $19.23. DoubleVerify Holdings, Inc. has a one year low of $16.11 and a one year high of $43.00. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 58.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.99.
DoubleVerify announced that its board has approved a stock repurchase plan on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes 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 management believes its stock is undervalued.
Insiders Place Their Bets
In other DoubleVerify news, CFO Nicola T. Allais sold 2,220 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total transaction of $47,974.20. Following the completion of the transaction, the chief financial officer now owns 85,882 shares of the company's stock, valued at $1,855,910.02. This represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.00% of the company's stock.
DoubleVerify Company Profile
(
Free Report)
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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