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

by anlene
March 10, 2023

Renaissance Technologies LLC boosted its holdings in DoubleVerify Holdings, Inc. (NYSE:DV – Get Rating) by 58.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,200 shares of the company’s stock after purchasing an additional 87,500 shares during the period. Renaissance Technologies LLC’s holdings in DoubleVerify were worth $6,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in DV. IFP Advisors Inc bought a new position in shares of DoubleVerify in the 3rd quarter valued at about $34,000. Lazard Asset Management LLC acquired a new stake in DoubleVerify in the 3rd quarter valued at about $56,000. UBS Group AG acquired a new position in DoubleVerify during the first quarter worth approximately $72,000. MetLife Investment Management LLC bought a new stake in DoubleVerify in the first quarter valued at approximately $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in DoubleVerify in the second quarter valued at approximately $108,000. Institutional investors own 90.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DV. Barclays upped their price objective on DoubleVerify from $29.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, March 2nd. Canaccord Genuity Group upped their price objective on DoubleVerify from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd. TheStreet upgraded DoubleVerify from a “d” rating to a “c-” rating in a research note on Wednesday, March 1st. JPMorgan Chase & Co. upped their price objective on DoubleVerify from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, March 2nd. Finally, Needham & Company LLC upped their price objective on DoubleVerify from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd. Two equity research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, DoubleVerify currently has an average rating of “Moderate Buy” and an average price target of $34.10.

Insiders Place Their Bets

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In other DoubleVerify news, major shareholder Vii US Holdings L. Providence sold 14,282,944 shares of the firm’s stock in a transaction on 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 filing with the SEC, which is available through this hyperlink. In other DoubleVerify news, CFO Nicola T. Allais sold 5,907 shares of the firm’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $27.81, for a total value of $164,273.67. Following the sale, the chief financial officer now owns 54,092 shares of the company’s stock, valued at approximately $1,504,298.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Vii US Holdings L. Providence sold 14,282,944 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $26.50, for a total value of $378,498,016.00. Following the completion of the sale, the insider now directly owns 52,825,444 shares in the company, valued at approximately $1,399,874,266. The disclosure for this sale can be found here. Insiders have sold a total of 28,681,772 shares of company stock worth $760,052,935 in the last 90 days. Company insiders own 3.22% of the company’s stock.

DoubleVerify Trading Down 3.5 %

Shares of NYSE DV opened at $25.52 on Friday. The business’s 50 day moving average is $25.69 and its 200-day moving average is $26.13. DoubleVerify Holdings, Inc. has a 1-year low of $17.22 and a 1-year high of $32.43. The firm has a market cap of $4.22 billion, a P/E ratio of 102.08 and a beta of 0.76.

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

About DoubleVerify

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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.