KBC Group NV Grows Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

KBC Group NV raised its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 29.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,516 shares of the company’s stock after purchasing an additional 1,494 shares during the period. KBC Group NV’s holdings in DoubleVerify were worth $125,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DV. True Wealth Design LLC purchased a new stake in DoubleVerify during the third quarter valued at approximately $29,000. GAMMA Investing LLC lifted its stake in DoubleVerify by 73.6% during the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after acquiring an additional 863 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of DoubleVerify in the 3rd quarter valued at $49,000. Covestor Ltd increased its stake in shares of DoubleVerify by 22.8% in the third quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after acquiring an additional 1,235 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of DoubleVerify in the 4th quarter valued at about $113,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

DoubleVerify Stock Down 0.3 %

Shares of NYSE DV opened at $21.67 on Friday. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 58.57, a PEG ratio of 2.43 and a beta of 0.99. The business’s 50 day moving average is $20.10 and its two-hundred day moving average is $19.09. DoubleVerify Holdings, Inc. has a 52-week low of $16.11 and a 52-week 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 reacquire 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.

Insider Activity

In other news, CFO Nicola T. Allais sold 2,071 shares of DoubleVerify stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total transaction of $42,476.21. Following the completion of the sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at approximately $1,761,439.82. The trade was a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 6,055 shares of company stock valued at $126,260. 3.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on DV. JPMorgan Chase & Co. decreased their target price on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Stifel Nicolaus dropped their price target on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Truist Financial decreased their price target on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Macquarie restated an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a research report on Thursday, November 7th. Finally, Scotiabank started coverage on shares of DoubleVerify in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.00.

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.