Intech Investment Management LLC Acquires 92,900 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Intech Investment Management LLC raised its stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 127.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 165,509 shares of the company’s stock after purchasing an additional 92,900 shares during the quarter. Intech Investment Management LLC’s holdings in DoubleVerify were worth $2,787,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in DoubleVerify by 1.4% during the first quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock valued at $552,974,000 after purchasing an additional 216,370 shares during the period. Assenagon Asset Management S.A. raised its stake in DoubleVerify by 9.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock valued at $69,440,000 after buying an additional 360,445 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of DoubleVerify by 25.9% during the 2nd quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock valued at $59,310,000 after buying an additional 626,586 shares during the period. Burgundy Asset Management Ltd. bought a new position in shares of DoubleVerify during the 2nd quarter valued at $54,099,000. Finally, Mackenzie Financial Corp purchased a new position in shares of DoubleVerify in the 2nd quarter worth $53,015,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $16.92, for a total transaction of $29,846.88. Following the sale, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,380,638.16. This represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 8,820 shares of company stock valued at $155,444 in the last 90 days. Insiders own 3.00% of the company’s stock.

DoubleVerify Stock Performance

Shares of NYSE:DV opened at $20.07 on Friday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 54.24, a P/E/G ratio of 3.17 and a beta of 0.90. The firm has a fifty day moving average price of $17.81 and a 200 day moving average price of $18.71. DoubleVerify Holdings, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $43.00.

DoubleVerify announced that its board has initiated a share buyback plan on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on DV shares. Barclays lowered their target price on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Stifel Nicolaus lowered their price objective 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. The Goldman Sachs Group cut their target price on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research report 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 report on Thursday, November 7th. Finally, Piper Sandler cut their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, DoubleVerify currently has a consensus rating of “Moderate Buy” and an average price target of $24.47.

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.