Norden Group LLC Takes $1.02 Million Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Norden Group LLC bought a new position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 28,871 shares of the company’s stock, valued at approximately $1,015,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Motley Fool Asset Management LLC bought a new position in DoubleVerify during the fourth quarter worth $962,000. Principal Financial Group Inc. boosted its stake in DoubleVerify by 9.5% during the fourth quarter. Principal Financial Group Inc. now owns 2,131,473 shares of the company’s stock worth $78,396,000 after buying an additional 185,458 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in DoubleVerify by 813.2% during the first quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock worth $141,255,000 after buying an additional 3,577,575 shares in the last quarter. Ranger Investment Management L.P. boosted its stake in DoubleVerify by 26.6% during the fourth quarter. Ranger Investment Management L.P. now owns 907,313 shares of the company’s stock worth $33,371,000 after buying an additional 190,786 shares in the last quarter. Finally, Honeycomb Asset Management LP acquired a new stake in shares of DoubleVerify in the 4th quarter valued at $14,712,000. Institutional investors own 97.29% of the company’s stock.

Insider Activity at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 5,292 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $32.53, for a total value of $172,148.76. Following the transaction, the chief financial officer now directly owns 73,030 shares in the company, valued at approximately $2,375,665.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Nicola T. Allais sold 5,292 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $32.53, for a total transaction of $172,148.76. Following the transaction, the chief financial officer now directly owns 73,030 shares in the company, valued at approximately $2,375,665.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Julie Eddleman sold 900 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $31.00, for a total value of $27,900.00. Following the sale, the insider now owns 145,944 shares of the company’s stock, valued at $4,524,264. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,384 shares of company stock worth $391,125. 3.00% of the stock is owned by company insiders.

DoubleVerify Stock Performance

Shares of NYSE:DV remained flat at $20.07 during mid-day trading on Friday. The company had a trading volume of 1,978,571 shares, compared to its average volume of 2,371,088. The stock has a market cap of $3.45 billion, a PE ratio of 52.82, a P/E/G ratio of 3.09 and a beta of 0.93. DoubleVerify Holdings, Inc. has a one year low of $17.50 and a one year high of $43.00. The firm’s 50-day moving average price is $20.71 and its 200-day moving average price is $30.75.

DoubleVerify (NYSE:DV) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. DoubleVerify had a return on equity of 6.46% and a net margin of 11.25%. The business had revenue of $140.70 million for the quarter, compared to analysts’ expectations of $138.25 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. As a group, research analysts forecast that DoubleVerify Holdings, Inc. will post 0.31 earnings per share for the current year.

DoubleVerify announced that its board has authorized a stock repurchase program on Thursday, May 16th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have weighed in on DV. The Goldman Sachs Group dropped their price objective on DoubleVerify from $38.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Needham & Company LLC lowered their target price on DoubleVerify from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Canaccord Genuity Group reduced their price target on DoubleVerify from $48.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Stifel Nicolaus cut their price objective on DoubleVerify from $37.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, BMO Capital Markets cut their price objective on DoubleVerify from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, DoubleVerify has a consensus rating of “Moderate Buy” and an average target price of $34.05.

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.