Advantage Alpha Capital Partners LP Cuts Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

Advantage Alpha Capital Partners LP decreased its position in DoubleVerify Holdings, Inc. (NYSE:DV) by 54.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,011 shares of the company’s stock after selling 151,723 shares during the period. Advantage Alpha Capital Partners LP owned approximately 0.07% of DoubleVerify worth $2,122,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in shares of DoubleVerify by 9.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock valued at $69,440,000 after purchasing an additional 360,445 shares during the last quarter. Van Berkom & Associates Inc. raised its position in DoubleVerify by 25.9% in the second quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock worth $59,310,000 after acquiring an additional 626,586 shares during the period. Burgundy Asset Management Ltd. purchased a new position in shares of DoubleVerify during the 2nd quarter worth $54,099,000. Mackenzie Financial Corp bought a new stake in shares of DoubleVerify during the 2nd quarter valued at $53,015,000. Finally, Geneva Capital Management LLC increased its stake in shares of DoubleVerify by 2.8% in the 3rd quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock worth $43,017,000 after purchasing an additional 69,780 shares in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DV. JPMorgan Chase & Co. reduced their target price on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company began coverage on shares of DoubleVerify in a research note on Monday, October 28th. They set an “underweight” rating and a $14.00 target price on the stock. Stifel Nicolaus cut their price target on DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 14th. BMO Capital Markets lowered their price objective on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, The Goldman Sachs Group decreased their target price on DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.47.

DoubleVerify Stock Up 2.8 %

Shares of NYSE DV opened at $20.63 on Tuesday. DoubleVerify Holdings, Inc. has a twelve month low of $16.11 and a twelve month high of $43.00. The business has a fifty day simple moving average of $17.88 and a two-hundred day simple moving average of $18.72. The firm has a market cap of $3.49 billion, a PE ratio of 55.76, a price-to-earnings-growth ratio of 3.18 and a beta of 0.90.

DoubleVerify declared that its board has initiated a stock buyback plan on Wednesday, November 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $16.92, for a total value of $29,846.88. Following the completion of the transaction, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,380,638.16. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 8,820 shares of company stock worth $155,444. Corporate 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.