Geode Capital Management LLC Boosts Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Geode Capital Management LLC grew its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,299,192 shares of the company’s stock after buying an additional 10,696 shares during the quarter. Geode Capital Management LLC owned 1.36% of DoubleVerify worth $38,729,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Mackenzie Financial Corp acquired a new stake in DoubleVerify in the 2nd quarter valued at $53,015,000. GSA Capital Partners LLP grew its stake in shares of DoubleVerify by 280.9% in the third quarter. GSA Capital Partners LLP now owns 72,309 shares of the company’s stock valued at $1,218,000 after buying an additional 53,326 shares in the last quarter. Repertoire Partners LP raised its holdings in shares of DoubleVerify by 1,041.7% during the 3rd quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock valued at $11,535,000 after buying an additional 625,000 shares during the period. Townsend Asset Management Corp NC ADV boosted its holdings in 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 during the period. Finally, III Capital Management acquired a new stake in DoubleVerify in the second quarter valued at approximately $570,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were 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 owns 81,598 shares in the company, valued at approximately $1,410,013.44. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 10,891 shares of company stock valued at $197,920 over the last three months. Company insiders own 3.00% of the company’s stock.

DoubleVerify Trading Up 1.0 %

NYSE:DV opened at $19.76 on Wednesday. The firm has a market capitalization of $3.34 billion, a PE ratio of 53.41, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97. DoubleVerify Holdings, Inc. has a 52 week low of $16.11 and a 52 week high of $43.00. The stock has a 50 day moving average of $19.17 and a 200-day moving average of $18.93.

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

Analyst Upgrades and Downgrades

DV has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Barclays upped their price objective on shares of DoubleVerify from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Royal Bank of Canada dropped their target price on DoubleVerify from $27.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Raymond James began coverage on DoubleVerify in a report on Wednesday, December 18th. They issued an “outperform” rating and a $25.00 price target for the company. Finally, Scotiabank began coverage on DoubleVerify in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $24.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.