Townsend Asset Management Corp NC ADV Acquires 56,248 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Townsend Asset Management Corp NC ADV increased its holdings in DoubleVerify Holdings, Inc. (NYSE:DV) by 51.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 165,858 shares of the company’s stock after purchasing an additional 56,248 shares during the period. DoubleVerify accounts for 1.2% of Townsend Asset Management Corp NC ADV’s investment portfolio, making the stock its 27th largest holding. Townsend Asset Management Corp NC ADV’s holdings in DoubleVerify were worth $3,186,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Neo Ivy Capital Management bought a new position in DoubleVerify in the 3rd quarter worth approximately $794,000. GSA Capital Partners LLP boosted its holdings in DoubleVerify by 280.9% in the 3rd quarter. GSA Capital Partners LLP now owns 72,309 shares of the company’s stock worth $1,218,000 after buying an additional 53,326 shares during the period. Repertoire Partners LP lifted its stake in DoubleVerify by 1,041.7% in the 3rd quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock worth $11,535,000 after purchasing an additional 625,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in DoubleVerify by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock worth $38,729,000 after purchasing an additional 10,696 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its stake in 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 institutional investors.

Analysts Set New Price Targets

DV has been the topic of several recent analyst reports. Barclays lowered their target price on shares of DoubleVerify from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Macquarie reiterated an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a research note on Thursday, November 7th. Royal Bank of Canada increased their target price on shares of DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Scotiabank initiated coverage on shares of DoubleVerify in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 target price on the stock. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of DoubleVerify in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, DoubleVerify currently has an average rating of “Moderate Buy” and an average price target of $23.00.

Insider Buying and Selling

In related news, CFO Nicola T. Allais sold 2,071 shares of DoubleVerify 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 transaction, the chief financial officer now owns 85,882 shares in the company, valued at $1,761,439.82. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by corporate insiders.

DoubleVerify Stock Up 4.0 %

Shares of NYSE:DV opened at $14.79 on Thursday. The stock has a market cap of $2.45 billion, a PE ratio of 39.96, a PEG ratio of 2.63 and a beta of 1.06. The company’s fifty day moving average is $20.24 and its 200 day moving average is $19.21. DoubleVerify Holdings, Inc. has a 52 week low of $13.42 and a 52 week high of $35.57.

DoubleVerify announced that its Board of Directors has initiated a share repurchase program 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 programs are often an indication that the company’s leadership believes its shares are undervalued.

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.