DoubleVerify Holdings, Inc. (NYSE:DV) Shares Acquired by Geneva Capital Management LLC

Geneva Capital Management LLC lifted its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 2.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,554,477 shares of the company’s stock after acquiring an additional 69,780 shares during the period. Geneva Capital Management LLC owned approximately 1.50% of DoubleVerify worth $43,017,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. purchased a new position in DoubleVerify in the 2nd quarter worth $73,268,000. Burgundy Asset Management Ltd. acquired a new stake in shares of DoubleVerify during the second quarter worth about $54,099,000. Mackenzie Financial Corp acquired a new stake in shares of DoubleVerify during the second quarter worth about $53,015,000. Jericho Capital Asset Management L.P. purchased a new stake in DoubleVerify in the first quarter valued at approximately $53,584,000. Finally, Capital International Investors increased its holdings in DoubleVerify by 104.7% in the 1st quarter. Capital International Investors now owns 1,681,385 shares of the company’s stock worth $59,117,000 after buying an additional 859,922 shares during the period. Institutional investors and hedge funds own 97.29% of the company’s stock.

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $17.28, for a total value of $30,481.92. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares in the company, valued at $1,410,013.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 7,056 shares of company stock valued at $119,634. 3.00% of the stock is owned by corporate insiders.

DoubleVerify Stock Up 1.3 %

Shares of NYSE DV opened at $20.40 on Wednesday. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 55.12, a price-to-earnings-growth ratio of 2.29 and a beta of 0.90. The company’s 50-day simple moving average is $17.56 and its 200-day simple moving average is $19.22. DoubleVerify Holdings, Inc. has a 52-week low of $16.11 and a 52-week high of $43.00.

DoubleVerify announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. 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. Morgan Stanley decreased their target price on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Truist Financial cut their price target on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company began coverage on DoubleVerify in a report on Monday, October 28th. They issued an “underweight” rating and a $14.00 price objective for the company. Finally, Stifel Nicolaus dropped their target price on DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.47.

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.