Geode Capital Management LLC raised its position in Innovid Corp. (NYSE:CTV – Free Report) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,433,158 shares of the company’s stock after acquiring an additional 184,309 shares during the quarter. Geode Capital Management LLC owned approximately 1.66% of Innovid worth $4,380,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Royce & Associates LP boosted its stake in shares of Innovid by 5.4% in the third quarter. Royce & Associates LP now owns 4,376,721 shares of the company’s stock valued at $7,878,000 after buying an additional 223,940 shares during the period. Whetstone Capital Advisors LLC boosted its position in Innovid by 0.7% during the 3rd quarter. Whetstone Capital Advisors LLC now owns 3,268,879 shares of the company’s stock worth $5,884,000 after buying an additional 23,642 shares during the period. State Street Corp raised its position in Innovid by 12.6% during the 3rd quarter. State Street Corp now owns 1,188,183 shares of the company’s stock worth $2,139,000 after purchasing an additional 133,281 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Innovid by 12.9% during the 2nd quarter. Acadian Asset Management LLC now owns 589,182 shares of the company’s stock worth $1,088,000 after buying an additional 67,316 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Innovid by 2.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 402,421 shares of the company’s stock valued at $724,000 after buying an additional 10,839 shares during the period. 25.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Citizens Jmp downgraded shares of Innovid from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. Needham & Company LLC restated a “hold” rating and set a $3.00 price target on shares of Innovid in a report on Friday, November 22nd. Finally, JMP Securities cut shares of Innovid from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Innovid currently has a consensus rating of “Hold” and a consensus price target of $2.83.
Innovid Trading Up 0.3 %
CTV stock opened at $3.04 on Monday. The stock has a market cap of $451.36 million, a price-to-earnings ratio of -33.78 and a beta of 3.30. The company’s 50 day moving average is $2.63 and its 200 day moving average is $2.10. Innovid Corp. has a 1-year low of $1.25 and a 1-year high of $3.40.
About Innovid
Innovid Corp. operates an independent software platform that provides ad serving, measurement, and creative services. It offers advertising services for the creation, delivery, and measurement of TV ads across connected TV, mobile TV, and desktop TV environments to advertisers, publishers, and media agencies.
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