Pacer Advisors Inc. Raises Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

Pacer Advisors Inc. raised its position in DoubleVerify Holdings, Inc. (NYSE:DV) by 5,838.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 189,025 shares of the company’s stock after purchasing an additional 185,842 shares during the period. Pacer Advisors Inc. owned 0.11% of DoubleVerify worth $3,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV increased its holdings in DoubleVerify by 29.7% in the fourth quarter. KBC Group NV now owns 6,516 shares of the company’s stock valued at $125,000 after buying an additional 1,494 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of DoubleVerify in the 4th quarter valued at about $475,000. SG Americas Securities LLC acquired a new stake in shares of DoubleVerify during the 4th quarter worth about $113,000. Fort Washington Investment Advisors Inc. OH lifted its stake in DoubleVerify by 19.0% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,010,596 shares of the company’s stock worth $19,414,000 after purchasing an additional 161,170 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new position in DoubleVerify in the fourth quarter valued at approximately $6,568,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

DoubleVerify Stock Performance

DoubleVerify stock opened at $20.59 on Friday. DoubleVerify Holdings, Inc. has a one year low of $16.11 and a one year high of $43.00. The company has a market cap of $3.48 billion, a P/E ratio of 55.66, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98. The business has a fifty day moving average of $19.96 and a two-hundred day moving average of $19.02.

DoubleVerify declared that its board has authorized a share repurchase plan on Wednesday, November 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

DV has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price objective on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. The Goldman Sachs Group decreased their price objective on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 14th. JPMorgan Chase & Co. cut their target price on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. JMP Securities reissued a “market outperform” rating and issued a $25.00 target price on shares of DoubleVerify in a research report on Monday. Finally, Raymond James started coverage on DoubleVerify in a research report on Wednesday, December 18th. They set an “outperform” rating and a $25.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Insider Activity

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

DoubleVerify Company 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.