Gagnon Advisors LLC Trims Stock Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Gagnon Advisors LLC cut its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,705 shares of the company's stock after selling 67,705 shares during the period. DoubleVerify accounts for approximately 0.8% of Gagnon Advisors LLC's investment portfolio, making the stock its 25th biggest holding. Gagnon Advisors LLC's holdings in DoubleVerify were worth $1,301,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. True Wealth Design LLC acquired a new stake in shares of DoubleVerify during the third quarter worth about $29,000. GAMMA Investing LLC grew its holdings in DoubleVerify by 73.6% during the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company's stock worth $39,000 after acquiring an additional 863 shares during the period. Capital Performance Advisors LLP acquired a new position in DoubleVerify in the third quarter valued at approximately $49,000. KBC Group NV boosted its position in DoubleVerify by 35.8% in the 3rd quarter. KBC Group NV now owns 5,022 shares of the company's stock worth $85,000 after purchasing an additional 1,325 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in DoubleVerify during the fourth quarter valued at $113,000. Hedge funds and other institutional investors own 97.29% of the company's stock.

Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $20.30, for a total value of $35,809.20. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares of the company's stock, valued at $1,656,439.40. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.00% of the company's stock.

DoubleVerify Stock Performance

NYSE DV traded up $0.27 during trading on Wednesday, reaching $21.94. The company's stock had a trading volume of 543,364 shares, compared to its average volume of 1,443,742. DoubleVerify Holdings, Inc. has a twelve month low of $16.11 and a twelve month high of $43.00. The business's fifty day moving average price is $20.01 and its 200-day moving average price is $19.04. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 59.28, a P/E/G ratio of 2.43 and a beta of 0.99.

DoubleVerify declared that its Board of Directors has authorized a stock repurchase program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Scotiabank began coverage on DoubleVerify in a research report on Thursday, December 5th. They issued a "sector outperform" rating and a $24.00 price objective for the company. BMO Capital Markets dropped their price target on DoubleVerify from $38.00 to $28.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Piper Sandler reduced their price target on DoubleVerify from $30.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. JMP Securities reaffirmed a "market outperform" rating and set a $25.00 price target on shares of DoubleVerify in a research report on Monday, January 27th. Finally, Raymond James initiated coverage on DoubleVerify in a research report on Wednesday, December 18th. They issued an "outperform" rating and a $25.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $24.00.

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.