Healthcare of Ontario Pension Plan Trust Fund Acquires New Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 79,888 shares of the company’s stock, valued at approximately $1,345,000.

A number of other institutional investors have also added to or reduced their stakes in DV. Assenagon Asset Management S.A. raised its position in shares of 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 in the last quarter. Van Berkom & Associates Inc. increased its stake in DoubleVerify by 25.9% in the second quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock valued at $59,310,000 after acquiring an additional 626,586 shares during the last quarter. Burgundy Asset Management Ltd. purchased a new stake in DoubleVerify during the second quarter valued at about $54,099,000. Mackenzie Financial Corp bought a new stake in DoubleVerify during the second quarter worth about $53,015,000. Finally, Geneva Capital Management LLC boosted its holdings in shares of DoubleVerify by 2.8% in the 3rd quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock worth $43,017,000 after purchasing an additional 69,780 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $16.41, for a total value of $28,947.24. Following the sale, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at approximately $1,339,023.18. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 8,820 shares of company stock valued at $155,444. Corporate insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DV. JPMorgan Chase & Co. cut their target price on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Canaccord Genuity Group reduced their target price on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. The Goldman Sachs Group lowered their price target on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Wells Fargo & Company started coverage on DoubleVerify in a research report on Monday, October 28th. They issued an “underweight” rating and a $14.00 price objective for the company. Finally, Morgan Stanley cut their price target on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.47.

DoubleVerify Price Performance

Shares of NYSE DV opened at $20.33 on Monday. DoubleVerify Holdings, Inc. has a 1 year low of $16.11 and a 1 year high of $43.00. The firm has a 50-day moving average of $18.13 and a 200 day moving average of $18.76. The stock has a market cap of $3.44 billion, a P/E ratio of 54.95, a price-to-earnings-growth ratio of 3.22 and a beta of 0.90.

DoubleVerify declared that its Board of Directors has initiated a share buyback program on Wednesday, November 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.