Riverbridge Partners LLC Has $51.55 Million Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Riverbridge Partners LLC cut its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 8.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,683,561 shares of the company’s stock after selling 240,666 shares during the period. Riverbridge Partners LLC owned about 1.59% of DoubleVerify worth $51,551,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Neo Ivy Capital Management bought a new position in shares of DoubleVerify during the third quarter worth about $794,000. Mackenzie Financial Corp acquired a new position in DoubleVerify in the second quarter valued at $53,015,000. GSA Capital Partners LLP boosted its position in DoubleVerify by 280.9% during the third quarter. GSA Capital Partners LLP now owns 72,309 shares of the company’s stock valued at $1,218,000 after acquiring an additional 53,326 shares during the last quarter. Repertoire Partners LP raised its position in shares of 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 acquiring an additional 625,000 shares in the last quarter. Finally, Townsend Asset Management Corp NC ADV raised its position in shares of DoubleVerify by 259.8% in the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 109,610 shares of the company’s stock worth $1,846,000 after acquiring an additional 79,145 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

DoubleVerify Price Performance

Shares of DoubleVerify stock opened at $19.90 on Thursday. The company has a 50 day simple moving average of $19.86 and a two-hundred day simple moving average of $19.00. The firm has a market cap of $3.37 billion, a PE ratio of 53.78, a PEG ratio of 2.35 and a beta of 0.98. DoubleVerify Holdings, Inc. has a 1 year low of $16.11 and a 1 year high of $43.00.

DoubleVerify announced that its board has authorized a stock repurchase program on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at $1,761,439.82. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Raymond James initiated coverage on shares of DoubleVerify in a research note on Wednesday, December 18th. They set an “outperform” rating and a $25.00 target price on the stock. Macquarie reaffirmed an “outperform” rating and issued a $19.00 target price on shares of DoubleVerify in a research report on Thursday, November 7th. Stifel Nicolaus cut their price target on DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Truist Financial decreased their price objective on DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Scotiabank assumed coverage on DoubleVerify in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $24.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.11.

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.