Alberta Investment Management Corp Takes Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Alberta Investment Management Corp bought a new stake in DoubleVerify Holdings, Inc. (NYSE:DV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 304,240 shares of the company’s stock, valued at approximately $5,844,000. Alberta Investment Management Corp owned approximately 0.18% of DoubleVerify at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of DoubleVerify in the third quarter valued at approximately $29,000. GAMMA Investing LLC lifted its position in DoubleVerify by 73.6% during the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after buying an additional 863 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in DoubleVerify during the third quarter worth approximately $49,000. KBC Group NV lifted its position in DoubleVerify by 35.8% during 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 in the last quarter. Finally, SG Americas Securities LLC purchased a new position in DoubleVerify during the fourth quarter worth approximately $113,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DV shares. Barclays reduced their price objective on DoubleVerify from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. JPMorgan Chase & Co. cut their target price on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Macquarie reissued an “outperform” rating and set a $19.00 target price on shares of DoubleVerify in a research note on Thursday, November 7th. Truist Financial cut their target price on DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, BMO Capital Markets cut their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

DoubleVerify Price Performance

DV opened at $22.51 on Thursday. DoubleVerify Holdings, Inc. has a 12 month low of $16.11 and a 12 month high of $43.00. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 60.82, a PEG ratio of 2.66 and a beta of 0.99. The business has a fifty day moving average price of $20.42 and a 200 day moving average price of $19.19.

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

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 2,220 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at $1,855,910.02. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by insiders.

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.