PDT Partners LLC Acquires New Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

PDT Partners LLC bought a new position in DoubleVerify Holdings, Inc. (NYSE:DV) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 144,737 shares of the company’s stock, valued at approximately $2,437,000. PDT Partners LLC owned 0.09% of DoubleVerify at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC raised its holdings in shares of DoubleVerify by 22.8% in the third quarter. Verition Fund Management LLC now owns 197,846 shares of the company’s stock valued at $3,332,000 after purchasing an additional 36,746 shares during the last quarter. Captrust Financial Advisors increased its stake in DoubleVerify by 61.3% in the 3rd quarter. Captrust Financial Advisors now owns 41,362 shares of the company’s stock valued at $697,000 after buying an additional 15,714 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in DoubleVerify during the 3rd quarter worth about $268,000. FORA Capital LLC acquired a new position in shares of DoubleVerify during the 3rd quarter worth about $307,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of DoubleVerify in the 3rd quarter valued at about $1,345,000. Institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on DV shares. Macquarie reissued an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a research report on Thursday, November 7th. BMO Capital Markets decreased their target price on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Piper Sandler lowered their target price on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company began coverage on shares of DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 price target for the company. Finally, JMP Securities lowered 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, DoubleVerify has a consensus rating of “Moderate Buy” and a consensus price target of $24.47.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Friday, October 4th. The stock was sold at an average price of $16.92, for a total value of $29,846.88. Following the completion of the transaction, the chief financial officer now directly owns 81,598 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. Insiders sold 8,820 shares of company stock valued at $155,444 in the last quarter. Company insiders own 3.00% of the company’s stock.

DoubleVerify Stock Performance

Shares of DoubleVerify stock opened at $20.33 on Friday. DoubleVerify Holdings, Inc. has a 52-week low of $16.11 and a 52-week high of $43.00. The stock has a market cap of $3.44 billion, a PE ratio of 54.95, a PEG ratio of 3.22 and a beta of 0.90. The firm has a 50-day moving average of $18.13 and a 200-day moving average of $18.76.

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

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.