Wellington Management Group LLP Reduces Stock Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Wellington Management Group LLP trimmed its stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 74.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 366,259 shares of the company’s stock after selling 1,045,612 shares during the period. Wellington Management Group LLP’s holdings in DoubleVerify were worth $6,168,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in DV. True Wealth Design LLC purchased a new stake in DoubleVerify during the third quarter valued at $29,000. Capital Performance Advisors LLP bought a new stake in shares of DoubleVerify during the 3rd quarter valued at about $49,000. CWM LLC increased its position in shares of DoubleVerify by 212.5% during the 2nd quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after purchasing an additional 1,900 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of DoubleVerify by 72.3% in the 2nd quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after purchasing an additional 1,742 shares during the period. Finally, KBC Group NV boosted its holdings in shares of DoubleVerify by 35.8% in the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after buying an additional 1,325 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $20.30, for a total value of $35,809.20. Following the completion of the transaction, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,656,439.40. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 8,820 shares of company stock worth $155,444. 3.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DV has been the topic of several recent research reports. Truist Financial decreased their price target on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Royal Bank of Canada decreased their target price on DoubleVerify from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Stifel Nicolaus reduced their price target on DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Barclays lifted their price objective on DoubleVerify from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Macquarie reiterated an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.06.

DoubleVerify Trading Up 0.1 %

Shares of DoubleVerify stock opened at $20.10 on Tuesday. The firm has a market cap of $3.40 billion, a PE ratio of 54.31, a PEG ratio of 3.29 and a beta of 0.97. The stock has a 50 day moving average of $18.89 and a 200 day moving average of $18.88. DoubleVerify Holdings, Inc. has a 12 month low of $16.11 and a 12 month high of $43.00.

DoubleVerify declared that its board has authorized a stock buyback 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 often an indication that the company’s board believes its stock is undervalued.

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.