Oppenheimer Asset Management Inc. Decreases Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

Oppenheimer Asset Management Inc. trimmed its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 37.7% during the third quarter, Holdings Channel reports. The institutional investor owned 88,634 shares of the company’s stock after selling 53,743 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in DoubleVerify were worth $1,493,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in DoubleVerify by 1.4% during the first quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock worth $552,974,000 after purchasing an additional 216,370 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of DoubleVerify by 9.6% in 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. boosted its holdings in shares of DoubleVerify by 25.9% in the 2nd quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock valued at $59,310,000 after buying an additional 626,586 shares in the last quarter. Burgundy Asset Management Ltd. purchased a new position in shares of DoubleVerify in the 2nd quarter valued at $54,099,000. Finally, Mackenzie Financial Corp acquired a new stake in DoubleVerify during the 2nd quarter worth $53,015,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on DV. Piper Sandler dropped their price objective on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JMP Securities dropped their price objective on shares of DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating on the stock in a research note on Thursday, November 7th. The Goldman Sachs Group reduced their target price 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. Morgan Stanley dropped their price target on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Truist Financial reduced their price objective on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.47.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $17.28, for a total transaction of $30,481.92. Following the completion of the transaction, the chief financial officer now owns 81,598 shares of the company’s stock, valued at approximately $1,410,013.44. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders sold 7,056 shares of company stock worth $119,634. 3.00% of the stock is owned by corporate insiders.

DoubleVerify Stock Down 4.5 %

Shares of DV stock opened at $19.14 on Monday. DoubleVerify Holdings, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $43.00. The business has a fifty day simple moving average of $17.62 and a 200-day simple moving average of $19.01. The stock has a market cap of $3.24 billion, a P/E ratio of 51.73, a P/E/G ratio of 3.03 and a beta of 0.90.

DoubleVerify announced that its board has approved a share repurchase program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to buy up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management 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.