Entropy Technologies LP Sells 43,079 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Entropy Technologies LP trimmed its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 45.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,052 shares of the company’s stock after selling 43,079 shares during the quarter. Entropy Technologies LP’s holdings in DoubleVerify were worth $981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in DV. Assenagon Asset Management S.A. boosted its position in DoubleVerify by 9.6% during the third quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock worth $69,440,000 after purchasing an additional 360,445 shares during the period. Geneva Capital Management LLC grew its stake in DoubleVerify by 2.8% in the 3rd quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock valued at $43,017,000 after buying an additional 69,780 shares in the last quarter. Geode Capital Management LLC raised its holdings in DoubleVerify by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock valued at $38,729,000 after acquiring an additional 10,696 shares during the period. Principal Financial Group Inc. lifted its position in shares of DoubleVerify by 4.8% during the third quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company’s stock worth $34,264,000 after acquiring an additional 94,095 shares in the last quarter. Finally, Brown Capital Management LLC boosted its holdings in shares of DoubleVerify by 0.5% in the third quarter. Brown Capital Management LLC now owns 1,762,674 shares of the company’s stock worth $29,683,000 after acquiring an additional 7,975 shares during the period. 97.29% of the stock is owned by institutional investors.

DoubleVerify Stock Performance

DV stock opened at $21.95 on Tuesday. The company has a market capitalization of $3.71 billion, a PE ratio of 59.33, a price-to-earnings-growth ratio of 2.56 and a beta of 0.99. 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 price is $20.12 and its two-hundred day moving average price is $19.09.

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

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 2,220 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total transaction of $47,974.20. Following the transaction, the chief financial officer now directly owns 85,882 shares in the company, valued at $1,855,910.02. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 6,055 shares of company stock valued at $126,260. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DV. Macquarie reiterated an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their price target on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. The Goldman Sachs Group cut their price objective on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Scotiabank started coverage on shares of DoubleVerify in a report on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 target price on the stock. Finally, Stifel Nicolaus cut their price target on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, DoubleVerify has an average rating of “Moderate Buy” and a consensus target price of $24.00.

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.