Cornercap Investment Counsel Inc. Takes Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Cornercap Investment Counsel Inc. bought a new position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,190 shares of the company’s stock, valued at approximately $222,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of DoubleVerify by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock worth $552,974,000 after acquiring an additional 216,370 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of DoubleVerify by 9.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock worth $69,440,000 after purchasing an additional 360,445 shares during the period. Van Berkom & Associates Inc. boosted its stake in shares of DoubleVerify by 25.9% in the 2nd quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock valued at $59,310,000 after purchasing an additional 626,586 shares during the last quarter. Burgundy Asset Management Ltd. acquired a new stake in shares of DoubleVerify during the second quarter worth $54,099,000. Finally, Mackenzie Financial Corp bought a new position in DoubleVerify during the second quarter worth $53,015,000. 97.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

DV has been the topic of several research analyst reports. JMP Securities cut their target price 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. BMO Capital Markets cut their price target on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Piper Sandler reduced their price objective on shares of DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Truist Financial dropped their target price on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Morgan Stanley reduced their price target on shares of DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, DoubleVerify has an average rating of “Moderate Buy” and an average price target of $24.47.

DoubleVerify Stock Up 0.4 %

DoubleVerify stock opened at $19.21 on Tuesday. The company has a market capitalization of $3.25 billion, a P/E ratio of 51.92, a P/E/G ratio of 3.03 and a beta of 0.90. The firm has a 50 day moving average price of $17.65 and a 200-day moving average price of $18.93. DoubleVerify Holdings, Inc. has a twelve month low of $16.11 and a twelve month high of $43.00.

DoubleVerify announced that its board has initiated a stock repurchase plan on Wednesday, November 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $16.92, for a total value of $29,846.88. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 8,820 shares of company stock valued at $155,444. Company insiders own 3.00% of the company’s stock.

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.