Jennison Associates LLC Sells 25,702 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Jennison Associates LLC decreased its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DVFree Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,015,057 shares of the company’s stock after selling 25,702 shares during the quarter. Jennison Associates LLC owned about 0.59% of DoubleVerify worth $35,689,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Congress Asset Management Co. MA grew its stake in shares of DoubleVerify by 813.2% in the first quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock worth $141,255,000 after acquiring an additional 3,577,575 shares during the last quarter. Vanguard Group Inc. grew its position in DoubleVerify by 15.0% in the 4th quarter. Vanguard Group Inc. now owns 15,510,989 shares of the company’s stock worth $570,494,000 after purchasing an additional 2,017,687 shares during the last quarter. Norges Bank acquired a new position in shares of DoubleVerify during the fourth quarter valued at about $58,477,000. Brown Capital Management LLC lifted its stake in shares of DoubleVerify by 128.1% in the fourth quarter. Brown Capital Management LLC now owns 2,236,450 shares of the company’s stock valued at $82,257,000 after buying an additional 1,256,195 shares during the period. Finally, Granahan Investment Management LLC bought a new position in DoubleVerify during the fourth quarter valued at about $36,988,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

Insider Buying and Selling

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $30.85, for a total transaction of $27,765.00. Following the transaction, the insider now directly owns 139,802 shares in the company, valued at approximately $4,312,891.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other DoubleVerify news, CFO Nicola T. Allais sold 5,292 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $32.53, for a total value of $172,148.76. Following the transaction, the chief financial officer now owns 73,030 shares of the company’s stock, valued at $2,375,665.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $30.85, for a total value of $27,765.00. Following the transaction, the insider now owns 139,802 shares of the company’s stock, valued at $4,312,891.70. The disclosure for this sale can be found here. Insiders sold a total of 12,384 shares of company stock worth $391,125 over the last three months. 3.00% of the stock is currently owned by company insiders.

DoubleVerify Trading Down 0.2 %

Shares of DV stock opened at $19.99 on Wednesday. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 52.61, a PEG ratio of 3.08 and a beta of 0.93. The firm’s 50 day moving average is $20.11 and its 200-day moving average is $30.33. DoubleVerify Holdings, Inc. has a 1 year low of $17.50 and a 1 year high of $43.00.

DoubleVerify (NYSE:DVGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The firm had revenue of $140.70 million for the quarter, compared to the consensus estimate of $138.25 million. DoubleVerify had a return on equity of 6.46% and a net margin of 11.25%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. On average, equities research analysts forecast that DoubleVerify Holdings, Inc. will post 0.31 earnings per share for the current fiscal year.

DoubleVerify declared that its Board of Directors has initiated a share buyback plan on Thursday, May 16th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on DV shares. Capital One Financial lowered DoubleVerify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 7th. BMO Capital Markets lowered their price target on shares of DoubleVerify from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Needham & Company LLC decreased their target price on shares of DoubleVerify from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. William Blair lowered shares of DoubleVerify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, JMP Securities lowered their price objective on DoubleVerify from $40.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, DoubleVerify has an average rating of “Moderate Buy” and an average price target of $34.05.

Check Out Our Latest Analysis on DV

DoubleVerify Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for DoubleVerify (NYSE:DV)

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