State of New Jersey Common Pension Fund D Increases Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

State of New Jersey Common Pension Fund D raised its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 7.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,878 shares of the company’s stock after buying an additional 7,208 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of DoubleVerify worth $2,092,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DV. Wealth Enhancement Advisory Services LLC purchased a new stake in DoubleVerify during the 3rd quarter valued at $472,000. Harvey Capital Management Inc. purchased a new stake in DoubleVerify during the 3rd quarter valued at $462,000. Robeco Institutional Asset Management B.V. purchased a new stake in DoubleVerify during the 3rd quarter valued at $1,323,000. M&G PLC boosted its position in DoubleVerify by 3.0% during the 3rd quarter. M&G PLC now owns 501,171 shares of the company’s stock valued at $8,520,000 after buying an additional 14,392 shares during the period. Finally, Principal Financial Group Inc. boosted its position in DoubleVerify by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company’s stock valued at $34,264,000 after buying an additional 94,095 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Performance

Shares of DV stock opened at $21.70 on Friday. DoubleVerify Holdings, Inc. has a one year low of $16.11 and a one year high of $43.00. The company’s 50-day moving average is $20.50 and its 200 day moving average is $19.23. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 58.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.99.

DoubleVerify announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DV shares. Truist Financial dropped their price target 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. Barclays decreased their price objective on shares of DoubleVerify from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Morgan Stanley decreased their price objective on shares of DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. JMP Securities restated a “market outperform” rating and issued a $25.00 price objective on shares of DoubleVerify in a report on Monday, January 27th. Finally, Canaccord Genuity Group decreased their price objective on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, DoubleVerify has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 2,071 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total transaction of $42,476.21. Following the sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at approximately $1,761,439.82. This represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by insiders.

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.