DoubleVerify (NYSE:DV) Sees Large Volume Increase – What’s Next?

Shares of DoubleVerify Holdings, Inc. (NYSE:DV) saw unusually-high trading volume on Monday . Approximately 1,972,327 shares were traded during mid-day trading, an increase of 10% from the previous session’s volume of 1,799,777 shares.The stock last traded at $14.85 and had previously closed at $13.90.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus set a $20.00 price objective on shares of DoubleVerify in a research note on Friday. Macquarie restated an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a research report on Thursday, November 7th. Truist Financial cut their price objective 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, Canaccord Genuity Group cut their price objective on DoubleVerify from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.37.

DoubleVerify Trading Up 7.2 %

The firm’s 50-day simple moving average is $20.54 and its two-hundred day simple moving average is $19.30. The company has a market cap of $2.52 billion, a PE ratio of 40.27, a P/E/G ratio of 2.63 and a beta of 0.99.

DoubleVerify declared that its board has authorized a share buyback plan on Wednesday, November 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Transactions at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of DoubleVerify stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $20.51, for a total value of $42,476.21. Following the sale, the chief financial officer now owns 85,882 shares in the company, valued at $1,761,439.82. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On DoubleVerify

Institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC acquired a new position in shares of DoubleVerify in the 3rd quarter valued at $29,000. Smartleaf Asset Management LLC raised its stake in shares of DoubleVerify by 168.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,565 shares of the company’s stock worth $30,000 after buying an additional 981 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of DoubleVerify by 73.6% in the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after purchasing an additional 863 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of DoubleVerify by 171.6% during the 4th quarter. Quadrant Capital Group LLC now owns 2,034 shares of the company’s stock worth $39,000 after purchasing an additional 1,285 shares during the last quarter. Finally, Allianz SE acquired a new position in DoubleVerify in the fourth quarter valued at $41,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

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.