DoubleVerify Holdings, Inc. (NYSE:DV) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in DoubleVerify Holdings, Inc. (NYSE:DV) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,796 shares of the company’s stock after selling 745 shares during the quarter. State of Alaska Department of Revenue’s holdings in DoubleVerify were worth $1,532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC purchased a new position in DoubleVerify during the 3rd quarter valued at about $29,000. GAMMA Investing LLC boosted its stake in shares of DoubleVerify by 73.6% in the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after buying an additional 863 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of DoubleVerify in the 3rd quarter valued at about $49,000. KBC Group NV boosted its stake in shares of DoubleVerify by 35.8% in the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock valued at $85,000 after buying an additional 1,325 shares during the period. Finally, Covestor Ltd boosted its stake in shares of DoubleVerify by 22.8% in the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock valued at $112,000 after buying an additional 1,235 shares during the period. 97.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DoubleVerify

In related news, CFO Nicola T. Allais sold 2,071 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $20.51, for a total transaction of $42,476.21. Following the completion of the transaction, the chief financial officer now 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 this hyperlink. Corporate insiders own 3.00% of the company’s stock.

DoubleVerify Trading Up 2.0 %

Shares of DV stock opened at $22.93 on Thursday. DoubleVerify Holdings, Inc. has a 1-year low of $16.11 and a 1-year high of $43.00. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 61.97, a P/E/G ratio of 2.56 and a beta of 0.99. The stock’s fifty day simple moving average is $20.20 and its 200-day simple moving average is $19.13.

DoubleVerify declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have commented on DV shares. Canaccord Genuity Group cut their price target on DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Piper Sandler cut their price target on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Macquarie reaffirmed an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a research report on Thursday, November 7th. Scotiabank began coverage on DoubleVerify in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 price target on the stock. Finally, Wells Fargo & Company began coverage on DoubleVerify in a report on Monday, October 28th. They issued an “underweight” rating and a $14.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, DoubleVerify currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

DoubleVerify Company Profile

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.