Point72 DIFC Ltd Acquires 56,993 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Point72 DIFC Ltd raised its stake in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 716.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 64,947 shares of the company's stock after buying an additional 56,993 shares during the quarter. Point72 DIFC Ltd's holdings in DoubleVerify were worth $1,094,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of DV. True Wealth Design LLC bought a new position in DoubleVerify in the third quarter valued at approximately $29,000. Capital Performance Advisors LLP acquired a new stake in shares of DoubleVerify in the third quarter valued at approximately $49,000. CWM LLC raised its holdings in shares of DoubleVerify by 212.5% in the second quarter. CWM LLC now owns 2,794 shares of the company's stock valued at $54,000 after purchasing an additional 1,900 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of 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 purchasing an additional 1,742 shares during the last quarter. Finally, KBC Group NV raised 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 purchasing an additional 1,325 shares during the last quarter. Institutional investors own 97.29% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lowered their price objective 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. The Goldman Sachs Group lowered their price objective on shares of DoubleVerify from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Piper Sandler lowered their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley lowered their target price on shares of DoubleVerify from $23.00 to $21.00 and set an "equal weight" rating on the stock in a report on Thursday, November 7th. Finally, Barclays lowered their target price on shares of DoubleVerify from $27.00 to $23.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, DoubleVerify currently has an average rating of "Moderate Buy" and an average target price of $24.44.

Insiders Place Their Bets

In other news, CFO Nicola T. Allais sold 1,764 shares of the business's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $16.92, for a total value of $29,846.88. Following the completion of the sale, the chief financial officer now owns 81,598 shares of the company's stock, valued at approximately $1,380,638.16. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 8,820 shares of company stock valued at $155,444 over the last ninety days. 3.00% of the stock is currently owned by company insiders.

DoubleVerify Price Performance

DV stock traded down $0.50 during midday trading on Thursday, reaching $20.56. 1,099,465 shares of the company were exchanged, compared to its average volume of 2,328,642. The business has a 50-day moving average price of $18.34 and a two-hundred day moving average price of $18.79. DoubleVerify Holdings, Inc. has a one year low of $16.11 and a one year high of $43.00. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 55.57, a price-to-earnings-growth ratio of 3.25 and a beta of 0.97.

DoubleVerify announced that its Board of Directors has initiated a share buyback plan on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board 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.