Oppenheimer Asset Management Inc. Sells 53,743 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Oppenheimer Asset Management Inc. cut its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 37.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,634 shares of the company's stock after selling 53,743 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.05% of DoubleVerify worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of DoubleVerify by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company's stock valued at $552,974,000 after purchasing an additional 216,370 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in DoubleVerify by 22.0% during the first quarter. Russell Investments Group Ltd. now owns 183,243 shares of the company's stock worth $6,443,000 after acquiring an additional 33,003 shares in the last quarter. NWI Management LP acquired a new position in DoubleVerify during the first quarter worth approximately $1,758,000. UniSuper Management Pty Ltd acquired a new position in DoubleVerify during the first quarter worth approximately $937,000. Finally, Mackenzie Financial Corp acquired a new position in DoubleVerify during the second quarter worth approximately $53,015,000. 97.29% of the stock is currently owned by institutional investors.

Insider Transactions at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $16.41, for a total value of $28,947.24. Following the transaction, the chief financial officer now owns 81,598 shares of the company's stock, valued at $1,339,023.18. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 7,056 shares of company stock valued at $119,634. 3.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DV has been the topic of a number of recent analyst reports. JMP Securities lowered their price target on DoubleVerify from $33.00 to $25.00 and set a "market outperform" rating on the stock in a research report on Thursday, November 7th. Truist Financial decreased their target price on DoubleVerify from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. The Goldman Sachs Group reduced their price target on DoubleVerify from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Needham & Company LLC restated a "buy" rating and set a $33.00 target price on shares of DoubleVerify in a research note on Tuesday, September 17th. Finally, Macquarie restated an "outperform" rating and set a $19.00 target price on shares of DoubleVerify in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.47.

DoubleVerify Stock Performance

DV stock traded down $0.09 during midday trading on Monday, reaching $19.05. 809,292 shares of the company's stock traded hands, compared to its average volume of 2,377,562. The company has a 50-day moving average price of $17.62 and a two-hundred day moving average price of $19.01. DoubleVerify Holdings, Inc. has a 52 week low of $16.11 and a 52 week high of $43.00. The firm has a market capitalization of $3.22 billion, a PE ratio of 51.73, a price-to-earnings-growth ratio of 3.03 and a beta of 0.90.

DoubleVerify announced that its board has authorized a share buyback program on Wednesday, November 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management 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.