FORA Capital LLC Buys New Shares in DoubleVerify Holdings, Inc. (NYSE:DV)

FORA Capital LLC bought a new stake in DoubleVerify Holdings, Inc. (NYSE:DV) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,226 shares of the company’s stock, valued at approximately $307,000.

Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in DoubleVerify during the 3rd quarter worth about $49,000. CWM LLC grew its position in DoubleVerify by 212.5% during the 2nd quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after purchasing an additional 1,900 shares during the period. Fifth Third Bancorp grew its position in DoubleVerify by 72.3% during 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. KBC Group NV grew its position in shares of DoubleVerify by 35.8% during the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock valued at $85,000 after acquiring an additional 1,325 shares during the period. Finally, Covestor Ltd grew its position in shares of DoubleVerify by 22.8% during the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock valued at $112,000 after acquiring an additional 1,235 shares during the period. 97.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DV has been the topic of a number of analyst reports. The Goldman Sachs Group dropped their target price on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Morgan Stanley dropped their target price on DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Truist Financial dropped their target price on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. dropped their target price on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, BMO Capital Markets dropped their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.47.

DoubleVerify Price Performance

DV opened at $20.32 on Friday. The company’s 50 day simple moving average is $18.07 and its two-hundred day simple moving average is $18.75. DoubleVerify Holdings, Inc. has a 1-year low of $16.11 and a 1-year high of $43.00. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 54.92, a price-to-earnings-growth ratio of 3.22 and a beta of 0.90.

DoubleVerify announced that its Board of Directors has initiated a share buyback program on Wednesday, November 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $20.30, for a total transaction of $35,809.20. Following the completion of the sale, the chief financial officer now owns 81,598 shares in the company, valued at $1,656,439.40. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 8,820 shares of company stock valued at $155,444 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

About DoubleVerify

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.