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

Oppenheimer Asset Management Inc. lessened its holdings in DoubleVerify Holdings, Inc. (NYSE:DV) by 37.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,634 shares of the company’s stock after selling 53,743 shares during the period. Oppenheimer Asset Management Inc. owned about 0.05% of DoubleVerify worth $1,493,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in shares of DoubleVerify by 22.0% in the first quarter. Russell Investments Group Ltd. now owns 183,243 shares of the company’s stock valued at $6,443,000 after buying an additional 33,003 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in DoubleVerify by 16,577.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,187 shares of the company’s stock worth $1,097,000 after acquiring an additional 31,000 shares in the last quarter. Vanguard Group Inc. raised its position 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 acquiring an additional 216,370 shares during the period. Seven Eight Capital LP purchased a new position in DoubleVerify during the first quarter valued at $810,000. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of DoubleVerify in the first quarter valued at about $937,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

DoubleVerify Stock Performance

DoubleVerify stock opened at $19.14 on Monday. DoubleVerify Holdings, Inc. has a 1 year low of $16.11 and a 1 year high of $43.00. The company’s 50 day simple moving average is $17.62 and its 200-day simple moving average is $19.01. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 51.73, a price-to-earnings-growth ratio of 3.03 and a beta of 0.90.

DoubleVerify announced that its board has initiated a share buyback program on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $16.41, for a total transaction of $28,947.24. Following the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at approximately $1,339,023.18. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 7,056 shares of company stock worth $119,634 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Canaccord Genuity Group lowered their price target on DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Truist Financial dropped their price objective on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Barclays decreased their target price on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Piper Sandler dropped their price target on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.47.

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.