438,100 Shares in DoubleVerify Holdings, Inc. (NYSE:DV) Purchased by ING Groep NV

ING Groep NV acquired a new stake in DoubleVerify Holdings, Inc. (NYSE:DV) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 438,100 shares of the company’s stock, valued at approximately $7,378,000.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in DoubleVerify by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock valued at $552,974,000 after buying an additional 216,370 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of DoubleVerify by 9.6% in the third quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock valued at $69,440,000 after purchasing an additional 360,445 shares during the last quarter. Van Berkom & Associates Inc. increased its stake in shares of DoubleVerify by 25.9% during the second quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock worth $59,310,000 after purchasing an additional 626,586 shares during the period. Burgundy Asset Management Ltd. acquired a new stake in DoubleVerify during the 2nd quarter worth approximately $54,099,000. Finally, Mackenzie Financial Corp bought a new stake in DoubleVerify in the 2nd quarter valued at $53,015,000. 97.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on DV. JPMorgan Chase & Co. lowered their price objective on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Canaccord Genuity Group dropped their price objective on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Piper Sandler decreased their target price on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada dropped their price target on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, Wells Fargo & Company assumed coverage on DoubleVerify in a research report on Monday, October 28th. They set an “underweight” rating and a $14.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.47.

DoubleVerify Trading Down 4.6 %

Shares of NYSE DV opened at $19.13 on Friday. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 51.70, a PEG ratio of 2.42 and a beta of 0.90. DoubleVerify Holdings, Inc. has a 12 month low of $16.11 and a 12 month high of $43.00. The stock has a 50-day moving average price of $17.62 and a two-hundred day moving average price of $19.16.

DoubleVerify announced that its Board of Directors has approved a share buyback 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at DoubleVerify

In related 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 transaction of $29,846.88. Following the sale, the chief financial officer now owns 81,598 shares in the company, valued at $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 available at this hyperlink. In the last three months, insiders have sold 7,056 shares of company stock valued at $119,634. 3.00% of the stock is owned by insiders.

DoubleVerify 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.