First Trust Advisors LP Raises Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

Posted by Defense World Staff on May 24th, 2023

First Trust Advisors LP grew its stake in DoubleVerify Holdings, Inc. (NYSE:DV – Get Rating) by 67.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 608,566 shares of the company’s stock after purchasing an additional 244,906 shares during the period. First Trust Advisors LP owned about 0.37% of DoubleVerify worth $13,364,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. IFP Advisors Inc acquired a new position in DoubleVerify in the 3rd quarter valued at $34,000. Lazard Asset Management LLC purchased a new position in DoubleVerify during the 3rd quarter worth $56,000. UBS Group AG purchased a new position in shares of DoubleVerify in the 1st quarter valued at about $72,000. Allspring Global Investments Holdings LLC grew its stake in DoubleVerify by 1,111.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,563 shares of the company’s stock valued at $78,000 after acquiring an additional 3,269 shares during the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in shares of DoubleVerify during the 1st quarter worth about $95,000. Hedge funds and other institutional investors own 90.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DV. Loop Capital raised their target price on shares of DoubleVerify from $32.00 to $35.00 in a research report on Thursday, March 2nd. The Goldman Sachs Group boosted their price target on shares of DoubleVerify from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. JPMorgan Chase & Co. lifted their target price on DoubleVerify from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, March 2nd. Canaccord Genuity Group boosted their price target on DoubleVerify from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $35.00 target price on shares of DoubleVerify in a report on Tuesday, April 4th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.45.

DoubleVerify Price Performance

Shares of NYSE:DV opened at $31.46 on Wednesday. The business’s fifty day moving average price is $29.03 and its two-hundred day moving average price is $26.58. DoubleVerify Holdings, Inc. has a fifty-two week low of $20.28 and a fifty-two week high of $32.43. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 108.49 and a beta of 0.82.

DoubleVerify (NYSE:DV – Get Rating) last announced its earnings results on Wednesday, May 10th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. The company had revenue of $122.59 million for the quarter, compared to analysts’ expectations of $117.93 million. DoubleVerify had a return on equity of 5.91% and a net margin of 10.64%. During the same quarter in the prior year, the business earned $0.03 earnings per share. Research analysts expect that DoubleVerify Holdings, Inc. will post 0.35 EPS for the current fiscal year.

Insider Transactions at DoubleVerify

In other DoubleVerify news, Director Robert Davis Noell sold 14,375,000 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $26.50, for a total transaction of $380,937,500.00. Following the transaction, the director now owns 340,464 shares in the company, valued at $9,022,296. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder Vii U.S. Holdings L. Providence sold 14,282,944 shares of DoubleVerify stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $26.50, for a total transaction of $378,498,016.00. Following the transaction, the insider now owns 52,825,444 shares in the company, valued at approximately $1,399,874,266. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Davis Noell sold 14,375,000 shares of DoubleVerify stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $26.50, for a total value of $380,937,500.00. Following the transaction, the director now owns 340,464 shares in the company, valued at approximately $9,022,296. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,755,161 shares of company stock worth $762,233,253. Insiders own 3.27% 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.