Quantbot Technologies LP Has $4.02 Million Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Quantbot Technologies LP increased its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 32.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 238,870 shares of the company’s stock after acquiring an additional 59,135 shares during the period. Quantbot Technologies LP’s holdings in DoubleVerify were worth $4,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DV. Assenagon Asset Management S.A. acquired a new position in DoubleVerify in the second quarter valued at about $73,268,000. Burgundy Asset Management Ltd. acquired a new position in DoubleVerify in the second quarter valued at about $54,099,000. Mackenzie Financial Corp acquired a new position in DoubleVerify in the second quarter valued at about $53,015,000. Fort Washington Investment Advisors Inc. OH bought a new position in shares of DoubleVerify in the second quarter worth about $13,000,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of DoubleVerify by 36.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company’s stock worth $47,154,000 after acquiring an additional 643,679 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,656,439.40. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 8,820 shares of company stock worth $155,444 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DV shares. Canaccord Genuity Group dropped their target price on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company started coverage on shares of DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 target price for the company. Stifel Nicolaus dropped their target price on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Truist Financial dropped their target price 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. Finally, Macquarie reaffirmed an “outperform” rating and issued a $19.00 target price 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 assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.47.

DoubleVerify Stock Performance

Shares of NYSE DV opened at $20.50 on Wednesday. The stock has a market cap of $3.47 billion, a P/E ratio of 55.41, a P/E/G ratio of 3.27 and a beta of 0.90. The firm has a 50 day moving average price of $17.88 and a 200 day moving average price of $18.72. DoubleVerify Holdings, Inc. has a 52-week low of $16.11 and a 52-week high of $43.00.

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

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.