DoubleVerify (NYSE:DV) Cut to Hold at Loop Capital

Loop Capital lowered shares of DoubleVerify (NYSE:DV) from a buy rating to a hold rating in a research note released on Tuesday, MarketBeat reports. They currently have $16.00 target price on the stock, down from their prior target price of $24.00.

A number of other analysts have also commented on DV. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $20.00 price objective (down from $24.00) on shares of DoubleVerify in a research note on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective on shares of DoubleVerify in a research note on Wednesday, December 11th. Truist Financial reduced their target price on DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Macquarie reiterated an “outperform” rating and set a $19.00 price target on shares of DoubleVerify in a report on Thursday, November 7th. Finally, Scotiabank assumed coverage on DoubleVerify in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, DoubleVerify has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

DoubleVerify Price Performance

Shares of DV opened at $15.06 on Tuesday. DoubleVerify has a 12-month low of $13.42 and a 12-month high of $35.57. The stock has a market capitalization of $2.50 billion, a P/E ratio of 40.69, a P/E/G ratio of 2.63 and a beta of 1.06. The firm’s 50 day moving average is $20.14 and its 200-day moving average is $19.18.

Insider Buying and Selling

In other news, CFO Nicola T. Allais sold 2,220 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total transaction of $47,974.20. Following the completion of the transaction, the chief financial officer now directly owns 85,882 shares in the company, valued at $1,855,910.02. This represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Jefferies Financial Group Inc. acquired a new stake in DoubleVerify in the 4th quarter valued at about $6,422,000. Mackenzie Financial Corp raised its stake in DoubleVerify by 20.1% in the 4th quarter. Mackenzie Financial Corp now owns 5,661,283 shares of the company’s stock valued at $108,753,000 after acquiring an additional 948,529 shares during the period. Neo Ivy Capital Management boosted its position in DoubleVerify by 271.0% during the fourth quarter. Neo Ivy Capital Management now owns 174,897 shares of the company’s stock worth $3,359,000 after purchasing an additional 127,751 shares during the period. Burgundy Asset Management Ltd. increased its holdings in shares of DoubleVerify by 73.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,906,913 shares of the company’s stock valued at $94,262,000 after purchasing an additional 2,073,279 shares during the last quarter. Finally, Kolinsky Wealth Management LLC acquired a new stake in shares of DoubleVerify during the 4th quarter worth about $347,000. Institutional investors and hedge funds own 97.29% 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.