Renaissance Technologies LLC Purchases 87,500 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Posted by Defense World Staff on Mar 10th, 2023

Renaissance Technologies LLC increased its position in DoubleVerify Holdings, Inc. (NYSE:DV – Get Rating) by 58.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 236,200 shares of the company’s stock after purchasing an additional 87,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.14% of DoubleVerify worth $6,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DV. IFP Advisors Inc bought a new position in DoubleVerify in the third quarter worth $34,000. Lazard Asset Management LLC acquired a new stake in shares of DoubleVerify during the 3rd quarter worth about $56,000. UBS Group AG bought a new position in DoubleVerify during the 1st quarter valued at about $72,000. MetLife Investment Management LLC acquired a new position in DoubleVerify in the first quarter valued at about $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in DoubleVerify during the second quarter worth about $108,000. 90.21% of the stock is owned by institutional investors.

DoubleVerify Price Performance

DV opened at $25.52 on Friday. DoubleVerify Holdings, Inc. has a one year low of $17.22 and a one year high of $32.43. The company’s 50 day simple moving average is $25.69 and its 200-day simple moving average is $26.13. The stock has a market capitalization of $4.22 billion, a P/E ratio of 102.08 and a beta of 0.76.

DoubleVerify (NYSE:DV – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). DoubleVerify had a net margin of 9.56% and a return on equity of 5.16%. The business had revenue of $133.64 million during the quarter, compared to analyst estimates of $133.20 million. As a group, analysts anticipate that DoubleVerify Holdings, Inc. will post 0.33 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on DV shares. The Goldman Sachs Group upped their price objective on shares of DoubleVerify from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Canaccord Genuity Group upped their price objective on shares of DoubleVerify from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. JPMorgan Chase & Co. upped their price objective on shares of DoubleVerify from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, March 2nd. Royal Bank of Canada upped their price objective on shares of DoubleVerify from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, March 2nd. Finally, Needham & Company LLC upped their price objective on shares of DoubleVerify from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.10.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,607 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $23.19, for a total value of $37,266.33. Following the transaction, the chief financial officer now directly owns 54,092 shares in the company, valued at $1,254,393.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other DoubleVerify news, CFO Nicola T. Allais sold 1,607 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $23.19, for a total value of $37,266.33. Following the sale, the chief financial officer now directly owns 54,092 shares in the company, valued at $1,254,393.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Nicola T. Allais sold 5,907 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $27.81, for a total transaction of $164,273.67. Following the completion of the sale, the chief financial officer now owns 54,092 shares in the company, valued at $1,504,298.52. The disclosure for this sale can be found here. Insiders have sold 28,681,772 shares of company stock worth $760,052,935 over the last ninety days. Company insiders own 3.22% of the company’s stock.

DoubleVerify Company Profile

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DoubleVerify Holdings, Inc provides a software platform for digital media measurement, data, and analytics in the United States and internationally. Its solutions provide advertisers unbiased data analytics that enable advertisers to increase the effectiveness, quality and return on their digital advertising investments.