Riverbridge Partners LLC Sells 240,666 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Riverbridge Partners LLC lowered its position in DoubleVerify Holdings, Inc. (NYSE:DV) by 8.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,683,561 shares of the company’s stock after selling 240,666 shares during the period. Riverbridge Partners LLC’s holdings in DoubleVerify were worth $51,551,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC bought a new stake in DoubleVerify in the third quarter worth $29,000. GAMMA Investing LLC grew its position in DoubleVerify by 73.6% during the 4th quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after purchasing an additional 863 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in DoubleVerify during the 3rd quarter valued at about $49,000. KBC Group NV raised its holdings in DoubleVerify by 35.8% in the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after buying an additional 1,325 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of DoubleVerify by 22.8% in the third quarter. Covestor Ltd now owns 6,643 shares of the company’s stock worth $112,000 after buying an additional 1,235 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

DoubleVerify Price Performance

Shares of DV opened at $19.90 on Thursday. The firm has a market cap of $3.37 billion, a P/E ratio of 53.78, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. DoubleVerify Holdings, Inc. has a 1 year low of $16.11 and a 1 year high of $43.00. The company has a 50 day simple moving average of $19.86 and a two-hundred day simple moving average of $19.00.

DoubleVerify announced that its board has authorized a share repurchase program on Wednesday, November 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DV. JPMorgan Chase & Co. reduced their price target on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Morgan Stanley decreased their price target on DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group dropped their price objective on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Barclays boosted their target price on DoubleVerify from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Raymond James initiated coverage on shares of DoubleVerify in a report on Wednesday, December 18th. They set an “outperform” rating and a $25.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.11.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 2,071 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total value of $42,476.21. Following the sale, the chief financial officer now owns 85,882 shares in the company, valued at approximately $1,761,439.82. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

DoubleVerify 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.