Entropy Technologies LP Sells 43,079 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Entropy Technologies LP cut its holdings in DoubleVerify Holdings, Inc. (NYSE:DV) by 45.8% during the 4th quarter, Holdings Channel reports. The firm owned 51,052 shares of the company’s stock after selling 43,079 shares during the period. Entropy Technologies LP’s holdings in DoubleVerify were worth $981,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in DoubleVerify by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock valued at $663,000 after purchasing an additional 1,218 shares during the period. CWM LLC boosted its stake in shares of DoubleVerify by 714.5% during the 3rd quarter. CWM LLC now owns 22,758 shares of the company’s stock valued at $383,000 after purchasing an additional 19,964 shares in the last quarter. Washington Capital Management Inc. increased its position in shares of DoubleVerify by 32.1% during the third quarter. Washington Capital Management Inc. now owns 31,700 shares of the company’s stock valued at $534,000 after buying an additional 7,700 shares during the period. nVerses Capital LLC raised its stake in DoubleVerify by 76.2% in the third quarter. nVerses Capital LLC now owns 14,800 shares of the company’s stock worth $249,000 after buying an additional 6,400 shares in the last quarter. Finally, Trust Point Inc. lifted its holdings in DoubleVerify by 10.2% in the third quarter. Trust Point Inc. now owns 35,911 shares of the company’s stock worth $605,000 after buying an additional 3,310 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DV shares. Canaccord Genuity Group decreased their target price on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Barclays decreased their price objective on DoubleVerify from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company began coverage on shares of DoubleVerify in a report on Monday, October 28th. They set an “underweight” rating and a $14.00 target price on the stock. Scotiabank assumed coverage on shares of DoubleVerify in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 price target for the company. Finally, Royal Bank of Canada boosted their price objective on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DoubleVerify presently has an average rating of “Moderate Buy” and an average price target of $24.00.

DoubleVerify Price Performance

DoubleVerify stock opened at $21.95 on Tuesday. DoubleVerify Holdings, Inc. has a one year low of $16.11 and a one year high of $43.00. The business’s fifty day moving average is $20.12 and its 200 day moving average is $19.09. The stock has a market capitalization of $3.71 billion, a PE ratio of 59.33, a price-to-earnings-growth ratio of 2.56 and a beta of 0.99.

DoubleVerify announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, CFO Nicola T. Allais sold 2,071 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total transaction of $42,476.21. Following the completion of the transaction, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at $1,761,439.82. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 6,055 shares of company stock valued at $126,260 in the last 90 days. 3.00% of the stock is currently owned by insiders.

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.