Holocene Advisors LP Invests $5.28 Million in DoubleVerify Holdings, Inc. (NYSE:DV)

Holocene Advisors LP acquired a new stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 313,744 shares of the company's stock, valued at approximately $5,283,000. Holocene Advisors LP owned approximately 0.19% of DoubleVerify at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DV. Mackenzie Financial Corp purchased a new stake in shares of DoubleVerify during the second quarter worth about $53,015,000. GSA Capital Partners LLP lifted its holdings in DoubleVerify by 280.9% in the third quarter. GSA Capital Partners LLP now owns 72,309 shares of the company's stock valued at $1,218,000 after acquiring an additional 53,326 shares during the period. Townsend Asset Management Corp NC ADV lifted its holdings in DoubleVerify by 259.8% in the third quarter. Townsend Asset Management Corp NC ADV now owns 109,610 shares of the company's stock valued at $1,846,000 after acquiring an additional 79,145 shares during the period. M&G Plc acquired a new position in shares of DoubleVerify during the 2nd quarter worth approximately $9,249,000. Finally, III Capital Management purchased a new stake in shares of DoubleVerify during the second quarter worth approximately $570,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $17.28, for a total transaction of $30,481.92. Following the completion of the sale, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,410,013.44. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 8,820 shares of company stock valued at $155,444 over the last quarter. 3.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

DV has been the subject of a number of analyst reports. Wells Fargo & Company began coverage on DoubleVerify in a research note on Monday, October 28th. They set an "underweight" rating and a $14.00 target price for the company. The Goldman Sachs Group dropped their price target on shares of DoubleVerify from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Scotiabank assumed coverage on shares of DoubleVerify in a research report on Thursday. They issued a "sector outperform" rating and a $24.00 price objective for the company. Piper Sandler dropped their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, Macquarie reaffirmed an "outperform" rating and set a $19.00 price target on shares of DoubleVerify in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, DoubleVerify has a consensus rating of "Moderate Buy" and an average price target of $24.44.

DoubleVerify Price Performance

DV stock traded down $0.50 during trading on Thursday, hitting $20.56. The stock had a trading volume of 1,099,465 shares, compared to its average volume of 2,328,642. The stock has a market capitalization of $3.48 billion, a P/E ratio of 55.57, a PEG ratio of 3.25 and a beta of 0.97. The company's 50-day moving average price is $18.34 and its two-hundred day moving average price is $18.79. DoubleVerify Holdings, Inc. has a twelve month low of $16.11 and a twelve month high of $43.00.

DoubleVerify declared 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 repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.