Public Employees Retirement System of Ohio Sells 2,622 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Public Employees Retirement System of Ohio reduced its stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 4.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 52,628 shares of the company’s stock after selling 2,622 shares during the period. Public Employees Retirement System of Ohio’s holdings in DoubleVerify were worth $886,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Burgundy Asset Management Ltd. purchased a new position in DoubleVerify during the second quarter worth about $54,099,000. Mackenzie Financial Corp bought a new position in shares of DoubleVerify in the second quarter valued at approximately $53,015,000. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of DoubleVerify during the second quarter valued at approximately $13,000,000. Dimensional Fund Advisors LP lifted its holdings in DoubleVerify by 36.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company’s stock worth $47,154,000 after acquiring an additional 643,679 shares during the period. Finally, Van Berkom & Associates Inc. boosted its position in DoubleVerify by 25.9% in the second quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock worth $59,310,000 after purchasing an additional 626,586 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. BMO Capital Markets lowered their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Piper Sandler lowered their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. JMP Securities reduced their target price on shares of DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating for the company in a research report on Thursday, November 7th. Truist Financial lowered their price target on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Morgan Stanley reduced their price objective on DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.11.

DoubleVerify Price Performance

DV opened at $19.69 on Friday. The firm has a market capitalization of $3.33 billion, a P/E ratio of 53.22, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97. DoubleVerify Holdings, Inc. has a one year low of $16.11 and a one year high of $43.00. The company has a fifty day moving average price of $19.07 and a 200-day moving average price of $18.90.

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

Insider Activity at DoubleVerify

In other DoubleVerify 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 value of $42,476.21. Following the completion of the transaction, the chief financial officer now owns 85,882 shares of the company’s stock, valued at $1,761,439.82. The trade was a 2.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 10,891 shares of company stock valued at $197,920. Company insiders own 3.00% of the company’s stock.

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.