JPMorgan Chase & Co. Grows Holdings in DoubleVerify Holdings, Inc. (NYSE:DV)

JPMorgan Chase & Co. raised its stake in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 77.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 645,233 shares of the company's stock after acquiring an additional 282,051 shares during the period. JPMorgan Chase & Co. owned approximately 0.38% of DoubleVerify worth $10,866,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DV. True Wealth Design LLC acquired a new position in DoubleVerify during the third quarter valued at approximately $29,000. Capital Performance Advisors LLP acquired a new position in DoubleVerify during the 3rd quarter worth approximately $49,000. KBC Group NV lifted its stake in DoubleVerify by 35.8% in the 3rd quarter. KBC Group NV now owns 5,022 shares of the company's stock valued at $85,000 after purchasing an additional 1,325 shares during the last quarter. Covestor Ltd grew its stake in shares of DoubleVerify by 22.8% during the third quarter. Covestor Ltd now owns 6,643 shares of the company's stock worth $112,000 after buying an additional 1,235 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of DoubleVerify in the 3rd quarter valued at $132,000. 97.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DV has been the subject of a number of recent research reports. Morgan Stanley lowered their target price on DoubleVerify from $23.00 to $21.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. Barclays boosted their target price on shares of DoubleVerify from $23.00 to $27.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Royal Bank of Canada raised their price target on shares of DoubleVerify from $22.00 to $24.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Scotiabank started 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. Finally, Piper Sandler cut their target price on DoubleVerify from $30.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.21.

Insider Activity

In related news, CFO Nicola T. Allais sold 2,071 shares of the firm's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total value of $42,476.21. Following the transaction, the chief financial officer now owns 85,882 shares of the company's stock, valued at approximately $1,761,439.82. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 5,599 shares of company stock worth $107,233 over the last quarter. 3.00% of the stock is currently owned by corporate insiders.

DoubleVerify Stock Performance

DV stock opened at $19.19 on Monday. The stock's 50 day simple moving average is $19.85 and its 200 day simple moving average is $19.01. The company has a market cap of $3.25 billion, a P/E ratio of 51.86, a price-to-earnings-growth ratio of 3.18 and a beta of 0.97. DoubleVerify Holdings, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $43.00.

DoubleVerify announced that its Board of Directors has initiated a stock buyback program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

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.