Fmr LLC Cuts Stock Position in DoubleVerify Holdings, Inc. (NYSE:DV)

FMR LLC decreased its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 70.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 563,234 shares of the company's stock after selling 1,340,524 shares during the quarter. FMR LLC owned about 0.33% of DoubleVerify worth $9,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in shares of DoubleVerify during the second quarter worth $73,268,000. Burgundy Asset Management Ltd. bought a new position in shares of DoubleVerify during the 2nd quarter worth approximately $54,099,000. Mackenzie Financial Corp acquired a new stake in shares of DoubleVerify in the second quarter valued at approximately $53,015,000. Fort Washington Investment Advisors Inc. OH acquired a new position in DoubleVerify during the second quarter worth $13,000,000. Finally, Dimensional Fund Advisors LP grew its position in DoubleVerify by 36.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company's stock valued at $47,154,000 after purchasing an additional 643,679 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

DoubleVerify Stock Down 3.2 %

NYSE:DV traded down $0.67 during trading hours on Thursday, reaching $20.10. The company had a trading volume of 1,157,535 shares, compared to its average volume of 2,305,663. The business's 50-day simple moving average is $18.70 and its two-hundred day simple moving average is $18.85. DoubleVerify Holdings, Inc. has a twelve month low of $16.11 and a twelve month high of $43.00. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 56.14, a P/E/G ratio of 3.28 and a beta of 0.97.

DoubleVerify announced that its board has initiated a stock buyback program on Wednesday, November 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, CFO Nicola T. Allais sold 1,764 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $17.28, for a total value of $30,481.92. Following the transaction, the chief financial officer now owns 81,598 shares in the company, valued at $1,410,013.44. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 8,820 shares of company stock worth $155,444 in the last three months. Company insiders own 3.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Needham & Company LLC restated a "buy" rating and set a $22.00 price objective on shares of DoubleVerify in a research note on Wednesday. Macquarie reissued an "outperform" rating and set a $19.00 price target on shares of DoubleVerify in a research report on Thursday, November 7th. Barclays boosted their price target on DoubleVerify from $23.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. The Goldman Sachs Group cut their price objective on DoubleVerify from $28.00 to $25.00 and set a "buy" rating for the company in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. lowered their price objective 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 given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $24.06.

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.