Wealth Enhancement Advisory Services LLC Purchases New Holdings in DoubleVerify Holdings, Inc. (NYSE:DV)

Wealth Enhancement Advisory Services LLC acquired a new position in DoubleVerify Holdings, Inc. (NYSE:DV) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 28,027 shares of the company’s stock, valued at approximately $472,000.

A number of other institutional investors have also recently bought and sold shares of DV. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of DoubleVerify in the 1st quarter worth approximately $309,000. Texas Permanent School Fund Corp lifted its position in shares of DoubleVerify by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 121,991 shares of the company’s stock valued at $4,289,000 after buying an additional 1,585 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of DoubleVerify by 47.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 42,158 shares of the company’s stock worth $1,482,000 after acquiring an additional 13,579 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of DoubleVerify by 62.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 118,415 shares of the company’s stock worth $4,163,000 after acquiring an additional 45,689 shares during the period. Finally, Illinois Municipal Retirement Fund increased its holdings in DoubleVerify by 2.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 98,092 shares of the company’s stock worth $3,449,000 after acquiring an additional 2,713 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DV. Piper Sandler reduced their target price on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus lowered their target price on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Barclays cut their price target on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Macquarie reiterated an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their target price on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, DoubleVerify currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.47.

DoubleVerify Price Performance

Shares of NYSE:DV opened at $19.34 on Friday. DoubleVerify Holdings, Inc. has a 1 year low of $16.11 and a 1 year high of $43.00. The stock’s fifty day moving average price is $17.54 and its 200-day moving average price is $19.59. The company has a market cap of $3.29 billion, a P/E ratio of 56.33, a PEG ratio of 2.44 and a beta of 0.90.

DoubleVerify (NYSE:DV) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $169.56 million during the quarter, compared to analyst estimates of $168.93 million. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. On average, sell-side analysts anticipate that DoubleVerify Holdings, Inc. will post 0.3 earnings per share for the current year.

DoubleVerify announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $16.92, for a total transaction of $29,846.88. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at approximately $1,380,638.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 7,056 shares of company stock worth $119,634 in the last three months. 3.00% of the stock is currently owned by company insiders.

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.