UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 53.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 379,581 shares of the company's stock after selling 428,011 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.22% of DoubleVerify worth $6,392,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of DV. CWM LLC raised its stake in DoubleVerify by 212.5% during the second quarter. CWM LLC now owns 2,794 shares of the company's stock worth $54,000 after purchasing an additional 1,900 shares during the period. SG Americas Securities LLC acquired a new position in DoubleVerify in the second quarter valued at $558,000. Silver Lake Advisory LLC purchased a new stake in DoubleVerify during the second quarter valued at about $202,000. Assenagon Asset Management S.A. acquired a new stake in DoubleVerify during the second quarter worth about $73,268,000. Finally, Washington Capital Management Inc. raised its holdings in shares of DoubleVerify by 122.2% in the 2nd quarter. Washington Capital Management Inc. now owns 24,000 shares of the company's stock worth $467,000 after purchasing an additional 13,200 shares during the period. 97.29% of the stock is owned by institutional investors and hedge funds.
DoubleVerify Stock Up 1.5 %
Shares of DV traded up $0.30 during midday trading on Wednesday, hitting $20.77. The company had a trading volume of 1,293,114 shares, compared to its average volume of 2,310,467. DoubleVerify Holdings, Inc. has a 52 week low of $16.11 and a 52 week high of $43.00. The company's 50 day moving average price is $18.62 and its 200 day moving average price is $18.84. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 56.14, a PEG ratio of 3.28 and a beta of 0.97.
DoubleVerify announced that its Board of Directors has authorized a stock buyback plan on Wednesday, November 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Wells Fargo & Company started coverage on shares of DoubleVerify in a report on Monday, October 28th. They issued an "underweight" rating and a $14.00 price target on the stock. Canaccord Genuity Group dropped their price objective on shares of DoubleVerify from $36.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. JMP Securities reduced their target price on shares of DoubleVerify from $33.00 to $25.00 and set a "market outperform" rating on the stock in a report on Thursday, November 7th. Needham & Company LLC reiterated a "buy" rating and issued a $22.00 price target on shares of DoubleVerify in a report on Wednesday. Finally, Barclays boosted their price objective on DoubleVerify from $23.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, DoubleVerify presently has an average rating of "Moderate Buy" and a consensus target price of $24.06.
View Our Latest Research Report on DV
Insiders Place Their Bets
In related news, CFO Nicola T. Allais sold 1,764 shares of the company's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $20.30, for a total transaction of $35,809.20. Following the completion of the transaction, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,656,439.40. This represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 8,820 shares of company stock valued at $155,444 in the last quarter. Insiders own 3.00% of the company's stock.
DoubleVerify Profile
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Free Report)
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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