Amalgamated Bank Sells 1,462 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Amalgamated Bank lowered its stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,548 shares of the company’s stock after selling 1,462 shares during the quarter. Amalgamated Bank’s holdings in DoubleVerify were worth $767,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in DV. Vanguard Group Inc. grew its stake in shares of DoubleVerify by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock worth $552,974,000 after acquiring an additional 216,370 shares in the last quarter. Swiss National Bank lifted its holdings in shares of DoubleVerify by 15.4% during the first quarter. Swiss National Bank now owns 286,200 shares of the company’s stock worth $10,063,000 after buying an additional 38,200 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of DoubleVerify by 22.0% during the first quarter. Russell Investments Group Ltd. now owns 183,243 shares of the company’s stock worth $6,443,000 after buying an additional 33,003 shares in the last quarter. NWI Management LP acquired a new position in DoubleVerify in the first quarter valued at about $1,758,000. Finally, UniSuper Management Pty Ltd acquired a new position in DoubleVerify in the first quarter valued at about $937,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on DV shares. Wells Fargo & Company assumed coverage on DoubleVerify in a report on Monday, October 28th. They set an “underweight” rating and a $14.00 price target on the stock. JMP Securities cut their target price on DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating on the stock in a report on Thursday, November 7th. Piper Sandler cut their target price on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Needham & Company LLC restated a “buy” rating and set a $33.00 price objective on shares of DoubleVerify in a research note on Tuesday, September 17th. Finally, BMO Capital Markets dropped their price objective on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.47.

Insider Transactions at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $16.92, for a total value of $29,846.88. Following the completion of the transaction, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,380,638.16. The trade was a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 7,056 shares of company stock valued at $119,634 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

DoubleVerify Stock Performance

Shares of DV opened at $19.13 on Friday. DoubleVerify Holdings, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $43.00. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 51.70, a price-to-earnings-growth ratio of 2.42 and a beta of 0.90. The firm has a 50-day simple moving average of $17.62 and a 200-day simple moving average of $19.16.

DoubleVerify announced that its board has authorized a stock repurchase program on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are 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.