Jacobs Levy Equity Management Inc. Acquires Shares of 592,032 DoubleVerify Holdings, Inc. (NYSE:DV)

Jacobs Levy Equity Management Inc. bought a new position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) during the first quarter, according to its most recent filing with the SEC. The fund bought 592,032 shares of the company’s stock, valued at approximately $20,816,000. Jacobs Levy Equity Management Inc. owned 0.34% of DoubleVerify at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. purchased a new stake in DoubleVerify in the first quarter worth $28,000. GAMMA Investing LLC purchased a new stake in shares of DoubleVerify during the 4th quarter valued at approximately $42,000. Signaturefd LLC grew its stake in DoubleVerify by 84.7% in the 4th quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock valued at $40,000 after buying an additional 498 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in DoubleVerify by 65.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock valued at $55,000 after acquiring an additional 587 shares during the period. Finally, RiverPark Advisors LLC purchased a new stake in shares of DoubleVerify during the first quarter worth $54,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

DoubleVerify Stock Performance

Shares of NYSE DV traded down $0.50 during mid-day trading on Wednesday, hitting $21.08. 1,281,400 shares of the stock traded hands, compared to its average volume of 2,382,303. The stock has a fifty day moving average price of $19.32 and a 200-day moving average price of $28.63. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 55.79, a PEG ratio of 3.13 and a beta of 0.93. DoubleVerify Holdings, Inc. has a 52 week low of $17.50 and a 52 week high of $43.00.

DoubleVerify (NYSE:DV) last announced its earnings results on Tuesday, July 30th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. DoubleVerify had a net margin of 11.25% and a return on equity of 6.46%. The firm had revenue of $155.89 million for the quarter, compared to analysts’ expectations of $153.78 million. During the same quarter in the previous year, the business posted $0.07 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts predict that DoubleVerify Holdings, Inc. will post 0.31 EPS for the current fiscal year.

DoubleVerify announced that its board has approved a stock repurchase program on Thursday, May 16th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DV shares. JMP Securities reduced their price target on DoubleVerify from $40.00 to $34.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 8th. KeyCorp downgraded shares of DoubleVerify from an “overweight” rating to a “sector weight” rating in a report on Wednesday, May 8th. Morgan Stanley upped their price target on shares of DoubleVerify from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. BMO Capital Markets dropped their price objective on DoubleVerify from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Finally, Truist Financial decreased their target price on DoubleVerify from $39.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, DoubleVerify presently has a consensus rating of “Moderate Buy” and an average price target of $32.39.

Insider Activity

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $31.00, for a total value of $27,900.00. Following the sale, the insider now directly owns 145,944 shares of the company’s stock, valued at $4,524,264. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $20.16, for a total value of $35,562.24. Following the transaction, the chief financial officer now directly owns 77,314 shares of the company’s stock, valued at approximately $1,558,650.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $31.00, for a total value of $27,900.00. Following the completion of the sale, the insider now directly owns 145,944 shares of the company’s stock, valued at approximately $4,524,264. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,428 shares of company stock worth $98,778. Insiders own 3.00% of the company’s stock.

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.