DAVENPORT & Co LLC Purchases 169,588 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

DAVENPORT & Co LLC boosted its position in DoubleVerify Holdings, Inc. (NYSE:DV) by 33.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 675,532 shares of the company’s stock after purchasing an additional 169,588 shares during the quarter. DAVENPORT & Co LLC owned about 0.39% of DoubleVerify worth $23,752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DV. RiverPark Advisors LLC bought a new stake in shares of DoubleVerify during the 1st quarter valued at $54,000. Whittier Trust Co. bought a new position in DoubleVerify in the 1st quarter valued at about $28,000. Diversify Advisory Services LLC bought a new stake in shares of DoubleVerify during the 1st quarter worth approximately $325,000. Norden Group LLC bought a new stake in shares of DoubleVerify during the 1st quarter worth approximately $1,015,000. Finally, Townsend Asset Management Corp NC ADV acquired a new stake in shares of DoubleVerify during the 1st quarter worth approximately $391,000. 97.29% of the stock is owned by institutional investors and hedge funds.

DoubleVerify Trading Up 0.4 %

DV stock traded up $0.08 during mid-day trading on Thursday, reaching $20.01. The company’s stock had a trading volume of 1,289,074 shares, compared to its average volume of 2,347,640. DoubleVerify Holdings, Inc. has a 12 month low of $17.50 and a 12 month high of $43.00. The business’s 50 day moving average price is $19.91 and its 200 day moving average price is $30.26. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 52.45, a price-to-earnings-growth ratio of 3.08 and a beta of 0.93.

DoubleVerify (NYSE:DV) last released its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $140.70 million for the quarter, compared to the consensus estimate of $138.25 million. DoubleVerify had a net margin of 11.25% and a return on equity of 6.46%. DoubleVerify’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. As a group, equities analysts expect that DoubleVerify Holdings, Inc. will post 0.31 EPS for the current fiscal year.

DoubleVerify announced that its board has approved a share repurchase plan on Thursday, May 16th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on DV shares. Capital One Financial lowered DoubleVerify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Canaccord Genuity Group lowered their price target on shares of DoubleVerify from $48.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. JMP Securities dropped their price target on DoubleVerify from $40.00 to $34.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 8th. 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 report on Wednesday, May 8th. Finally, Piper Sandler dropped their target price on DoubleVerify from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.05.

Insider Activity

In other news, CFO Nicola T. Allais sold 5,292 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $32.53, for a total transaction of $172,148.76. Following the completion of the sale, the chief financial officer now owns 73,030 shares in the company, valued at $2,375,665.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Julie Eddleman sold 900 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $30.85, for a total value of $27,765.00. Following the sale, the insider now owns 139,802 shares in the company, valued at approximately $4,312,891.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Nicola T. Allais sold 5,292 shares of DoubleVerify stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $32.53, for a total value of $172,148.76. Following the transaction, the chief financial officer now owns 73,030 shares of the company’s stock, valued at approximately $2,375,665.90. The disclosure for this sale can be found here. Insiders sold a total of 14,148 shares of company stock worth $426,440 in the last three months. Company 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.