Brown Capital Management LLC Purchases 7,975 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Brown Capital Management LLC boosted its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 0.5% during the third quarter, Holdings Channel.com reports. The firm owned 1,762,674 shares of the company’s stock after acquiring an additional 7,975 shares during the period. Brown Capital Management LLC’s holdings in DoubleVerify were worth $29,683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DV. United Services Automobile Association grew its stake in shares of DoubleVerify by 7.4% during the second quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock valued at $210,000 after buying an additional 746 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of DoubleVerify by 2.3% in the second quarter. Arizona State Retirement System now owns 40,751 shares of the company’s stock worth $793,000 after purchasing an additional 927 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in DoubleVerify by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company’s stock valued at $663,000 after buying an additional 1,218 shares in the last quarter. Covestor Ltd boosted its position in DoubleVerify by 22.8% in the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock valued at $112,000 after buying an additional 1,235 shares during the period. Finally, KBC Group NV increased its position in shares of DoubleVerify by 35.8% during the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after acquiring an additional 1,325 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Wall Street Analysts Forecast Growth

DV has been the subject of a number of research analyst reports. Truist Financial decreased their target price on DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Stifel Nicolaus lowered their price objective on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Needham & Company LLC reissued a “buy” rating and set a $33.00 target price on shares of DoubleVerify in a research report on Tuesday, September 17th. Royal Bank of Canada lowered their price target on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group cut their price objective on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.47.

DoubleVerify Stock Performance

Shares of NYSE DV opened at $19.35 on Thursday. DoubleVerify Holdings, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $43.00. The company has a market cap of $3.27 billion, a PE ratio of 52.28, a P/E/G ratio of 3.05 and a beta of 0.90. The business has a 50-day simple moving average of $17.70 and a two-hundred day simple moving average of $18.86.

DoubleVerify declared that its board has initiated a share repurchase plan on Wednesday, November 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $16.92, for a total transaction of $29,846.88. Following the completion of the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at $1,380,638.16. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 8,820 shares of company stock valued at $155,444 over the last ninety days. 3.00% of the stock is currently owned by insiders.

About DoubleVerify

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.