DoubleVerify Holdings, Inc. (NYSE:DV - Get Free Report) shares shot up 4% on Monday . The stock traded as high as $21.51 and last traded at $21.44. 522,029 shares were traded during mid-day trading, a decline of 63% from the average session volume of 1,427,801 shares. The stock had previously closed at $20.61.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on DV shares. JMP Securities reaffirmed a "market outperform" rating and set a $25.00 price target on shares of DoubleVerify in a research note on Monday, January 27th. Scotiabank initiated coverage on shares of DoubleVerify in a research report on Thursday, December 5th. They set a "sector outperform" rating and a $24.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $22.00 price target on shares of DoubleVerify in a research report on Wednesday, December 11th. BMO Capital Markets decreased their price objective on DoubleVerify from $38.00 to $28.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Finally, Truist Financial dropped their target price on DoubleVerify from $26.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.00.
Get Our Latest Report on DoubleVerify
DoubleVerify Trading Down 1.6 %
The company has a market cap of $3.67 billion, a price-to-earnings ratio of 58.67, a PEG ratio of 2.43 and a beta of 0.99. The firm's fifty day simple moving average is $20.07 and its 200 day simple moving average is $19.08.
DoubleVerify announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are 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 dated Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total transaction of $47,974.20. Following the transaction, the chief financial officer now directly owns 85,882 shares in the company, 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 filing with the SEC, which can be accessed through this link. Insiders have sold a total of 6,055 shares of company stock valued at $126,260 over the last quarter. Company insiders own 3.00% of the company's stock.
Institutional Trading of DoubleVerify
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in shares of DoubleVerify by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company's stock valued at $663,000 after buying an additional 1,218 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in DoubleVerify during the second quarter valued at about $230,000. Cetera Investment Advisers increased its stake in DoubleVerify by 17.6% during the second quarter. Cetera Investment Advisers now owns 148,396 shares of the company's stock worth $2,889,000 after acquiring an additional 22,244 shares during the last quarter. CWM LLC raised its holdings in shares of DoubleVerify by 714.5% in the 3rd quarter. CWM LLC now owns 22,758 shares of the company's stock worth $383,000 after purchasing an additional 19,964 shares during the period. Finally, Washington Capital Management Inc. lifted its stake in shares of DoubleVerify by 32.1% in the 3rd quarter. Washington Capital Management Inc. now owns 31,700 shares of the company's stock valued at $534,000 after purchasing an additional 7,700 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.
About DoubleVerify
(
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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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