Harbor Capital Advisors Inc. Makes New Investment in DoubleVerify Holdings, Inc. (NYSE:DV)

Harbor Capital Advisors Inc. bought a new stake in DoubleVerify Holdings, Inc. (NYSE:DV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,678 shares of the company’s stock, valued at approximately $649,000.

Several other institutional investors and hedge funds have also made changes to their positions in DV. Assetmark Inc. lifted its holdings in shares of DoubleVerify by 102.7% in the 4th quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock valued at $28,000 after purchasing an additional 645 shares during the last quarter. First Horizon Advisors Inc. raised its stake in DoubleVerify by 106.1% during the 1st quarter. First Horizon Advisors Inc. now owns 1,698 shares of the company’s stock valued at $51,000 after acquiring an additional 874 shares during the last quarter. Clear Street Markets LLC purchased a new stake in DoubleVerify during the 4th quarter valued at approximately $56,000. Harvest Fund Management Co. Ltd purchased a new stake in DoubleVerify during the 1st quarter valued at approximately $60,000. Finally, Fifth Third Bancorp purchased a new stake in DoubleVerify during the 1st quarter valued at approximately $63,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 9,231 shares of the stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $37.71, for a total transaction of $348,101.01. Following the sale, the chief financial officer now owns 59,674 shares in the company, valued at approximately $2,250,306.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other DoubleVerify news, Director Laura Desmond sold 11,002 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $40.32, for a total transaction of $443,600.64. Following the transaction, the director now owns 179,071 shares of the company’s stock, valued at approximately $7,220,142.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Nicola T. Allais sold 9,231 shares of the stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $37.71, for a total value of $348,101.01. Following the transaction, the chief financial officer now directly owns 59,674 shares in the company, valued at approximately $2,250,306.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,191,350 shares of company stock worth $819,263,084. 3.27% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on DV shares. The Goldman Sachs Group upped their price objective on DoubleVerify from $35.00 to $40.00 in a research note on Monday, July 17th. Wells Fargo & Company started coverage on DoubleVerify in a research note on Tuesday, June 27th. They set an “overweight” rating and a $44.00 price objective for the company. Robert W. Baird started coverage on DoubleVerify in a research note on Friday, August 18th. They set an “outperform” rating and a $38.00 price objective for the company. Piper Sandler reduced their price objective on DoubleVerify from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of DoubleVerify in a research report on Friday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.47.

DoubleVerify Price Performance

DV opened at $28.21 on Tuesday. The stock has a market cap of $4.72 billion, a P/E ratio of 94.03 and a beta of 0.94. The stock’s 50 day simple moving average is $34.85 and its 200 day simple moving average is $32.70. DoubleVerify Holdings, Inc. has a 1-year low of $20.38 and a 1-year high of $42.51.

DoubleVerify (NYSE:DV) last released its quarterly earnings results on Monday, July 31st. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $133.74 million for the quarter, compared to analysts’ expectations of $133.39 million. DoubleVerify had a return on equity of 6.01% and a net margin of 10.64%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. Research analysts expect that DoubleVerify Holdings, Inc. will post 0.36 EPS for the current fiscal year.

About DoubleVerify

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and analytics in the United States and internationally. The company provides solutions to advertisers unbiased data analytics that enable advertisers to increase the effectiveness, quality and return on their digital advertising investments.