HighTower Advisors LLC Sells 16,165 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

HighTower Advisors LLC decreased its stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 52.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,693 shares of the company’s stock after selling 16,165 shares during the quarter. HighTower Advisors LLC’s holdings in DoubleVerify were worth $249,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp purchased a new position in DoubleVerify in the second quarter worth $53,015,000. GSA Capital Partners LLP grew its stake in DoubleVerify by 280.9% during the 3rd quarter. GSA Capital Partners LLP now owns 72,309 shares of the company’s stock worth $1,218,000 after buying an additional 53,326 shares during the last quarter. Townsend Asset Management Corp NC ADV increased its position in DoubleVerify by 259.8% during the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 109,610 shares of the company’s stock valued at $1,846,000 after buying an additional 79,145 shares in the last quarter. III Capital Management purchased a new stake in DoubleVerify in the second quarter valued at about $570,000. Finally, Geneva Capital Management LLC boosted its holdings in DoubleVerify by 2.8% in the third quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock worth $43,017,000 after acquiring an additional 69,780 shares in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

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 dated Wednesday, October 23rd. The shares were sold at an average price of $16.41, for a total transaction of $28,947.24. Following the completion of the transaction, the chief financial officer now owns 81,598 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 10,891 shares of company stock worth $197,920 over the last ninety days. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DV. Macquarie restated an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a research note on Thursday, November 7th. The Goldman Sachs Group reduced their price objective on DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Truist Financial dropped their target price on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley reduced their price target on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, Royal Bank of Canada cut their price objective on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, DoubleVerify currently has a consensus rating of “Moderate Buy” and an average price target of $24.11.

DoubleVerify Stock Performance

NYSE DV opened at $19.76 on Wednesday. DoubleVerify Holdings, Inc. has a one year low of $16.11 and a one year high of $43.00. The company has a 50-day simple moving average of $19.17 and a 200-day simple moving average of $18.93. The firm has a market capitalization of $3.34 billion, a PE ratio of 53.41, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97.

DoubleVerify declared that its board has approved a stock repurchase program on Wednesday, November 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

DoubleVerify Company 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.