Massachusetts Financial Services Co. MA Sells 1,663,058 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Massachusetts Financial Services Co. MA trimmed its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 89.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,000 shares of the company's stock after selling 1,663,058 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.12% of DoubleVerify worth $3,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC grew its position in DoubleVerify by 127.9% during the third quarter. Intech Investment Management LLC now owns 165,509 shares of the company's stock valued at $2,787,000 after buying an additional 92,900 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of DoubleVerify during the 3rd quarter valued at $2,128,000. Quest Partners LLC increased its stake in shares of DoubleVerify by 209,440.0% in the 3rd quarter. Quest Partners LLC now owns 31,431 shares of the company's stock worth $529,000 after purchasing an additional 31,416 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new position in DoubleVerify in the 3rd quarter worth $222,000. Finally, ING Groep NV purchased a new position in DoubleVerify during the third quarter valued at $7,378,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DV. The Goldman Sachs Group reduced their price target on DoubleVerify from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Stifel Nicolaus decreased their target price on shares of DoubleVerify from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Piper Sandler lowered their price target 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. JMP Securities reduced their price objective on shares of 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, JPMorgan Chase & Co. lowered their target price on shares of DoubleVerify from $21.00 to $19.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.47.

DoubleVerify Stock Performance

Shares of DV traded down $0.03 during mid-day trading on Wednesday, hitting $20.47. 15,917 shares of the stock were exchanged, compared to its average volume of 2,349,648. The company has a market cap of $3.46 billion, a PE ratio of 55.41, a price-to-earnings-growth ratio of 3.27 and a beta of 0.90. DoubleVerify Holdings, Inc. has a 52-week low of $16.11 and a 52-week high of $43.00. The firm has a 50-day moving average of $17.88 and a two-hundred day moving average of $18.72.

DoubleVerify announced that its board has initiated 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 purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $16.92, for a total value of $29,846.88. Following the completion of the transaction, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,380,638.16. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 8,820 shares of company stock worth $155,444. Insiders own 3.00% of the company's stock.

DoubleVerify Company Profile

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.