Crestwood Capital Management L.P. Sells 109,916 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Crestwood Capital Management L.P. lessened its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 22.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 374,157 shares of the company’s stock after selling 109,916 shares during the quarter. DoubleVerify makes up approximately 4.9% of Crestwood Capital Management L.P.’s investment portfolio, making the stock its 11th largest position. Crestwood Capital Management L.P. owned approximately 0.22% of DoubleVerify worth $6,301,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in DoubleVerify in the 3rd quarter valued at about $49,000. CWM LLC increased its stake in shares of DoubleVerify by 212.5% during the second quarter. CWM LLC now owns 2,794 shares of the company’s stock worth $54,000 after purchasing an additional 1,900 shares during the period. Fifth Third Bancorp lifted its holdings in DoubleVerify by 72.3% during the 2nd quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after purchasing an additional 1,742 shares during the last quarter. KBC Group NV boosted its stake in DoubleVerify by 35.8% in the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock valued at $85,000 after purchasing an additional 1,325 shares during the period. Finally, Covestor Ltd grew its holdings 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 in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DV shares. Truist Financial reduced their target price on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. BMO Capital Markets cut their price objective on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Barclays lowered their target price on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Piper Sandler cut their price target on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, JMP Securities reduced their price target on DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DoubleVerify has an average rating of “Moderate Buy” and an average target price of $24.47.

Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $17.28, for a total value of $30,481.92. Following the completion of the transaction, the chief financial officer now directly owns 81,598 shares in the company, valued at approximately $1,410,013.44. This represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 8,820 shares of company stock worth $155,444 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

DoubleVerify Trading Up 2.8 %

Shares of DoubleVerify stock opened at $20.63 on Tuesday. The firm’s 50 day moving average is $17.88 and its 200 day moving average is $18.72. The firm has a market capitalization 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 Holdings, Inc. has a 1 year low of $16.11 and a 1 year high of $43.00.

DoubleVerify declared that its Board of Directors has initiated a share repurchase plan on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors 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.