PDT Partners LLC Purchases New Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

PDT Partners LLC purchased a new stake in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 144,737 shares of the company's stock, valued at approximately $2,437,000. PDT Partners LLC owned approximately 0.09% of DoubleVerify at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of DV. California State Teachers Retirement System raised its position in shares of DoubleVerify by 7.3% during the first quarter. California State Teachers Retirement System now owns 144,794 shares of the company's stock worth $5,091,000 after acquiring an additional 9,881 shares during the last quarter. Cetera Investment Advisers raised its position in shares of DoubleVerify by 91.1% during the first quarter. Cetera Investment Advisers now owns 126,152 shares of the company's stock worth $4,436,000 after purchasing an additional 60,146 shares during the period. Cetera Advisors LLC bought a new position in shares of DoubleVerify during the first quarter worth about $1,671,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of DoubleVerify by 10.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 45,131 shares of the company's stock worth $1,586,000 after buying an additional 4,200 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of DoubleVerify by 119.7% during the second quarter. Harbor Capital Advisors Inc. now owns 8,944 shares of the company's stock worth $174,000 after buying an additional 4,873 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on DV shares. Stifel Nicolaus decreased their price target on DoubleVerify from $25.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Wells Fargo & Company initiated coverage on DoubleVerify in a report on Monday, October 28th. They issued an "underweight" rating and a $14.00 price objective for the company. Macquarie reaffirmed an "outperform" rating and issued a $19.00 price objective on shares of DoubleVerify in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price target on DoubleVerify from $21.00 to $19.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. Finally, Needham & Company LLC reissued a "buy" rating and set a $33.00 price target on shares of DoubleVerify in a report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $24.47.

Insider Transactions at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the company's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $16.92, for a total value of $29,846.88. Following the completion of the sale, the chief financial officer now owns 81,598 shares of the company's stock, valued at $1,380,638.16. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 8,820 shares of company stock worth $155,444 over the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

DoubleVerify Trading Down 0.1 %

Shares of NYSE DV traded down $0.02 during mid-day trading on Friday, reaching $20.33. The company had a trading volume of 804,901 shares, compared to its average volume of 2,228,476. DoubleVerify Holdings, Inc. has a 52-week low of $16.11 and a 52-week high of $43.00. The stock has a market cap of $3.44 billion, a P/E ratio of 54.95, a PEG ratio of 3.22 and a beta of 0.90. The firm has a 50 day simple moving average of $18.13 and a two-hundred day simple moving average of $18.76.

DoubleVerify announced that its Board of Directors has authorized a share buyback plan on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board 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.