Gagnon Securities LLC Lowers Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Gagnon Securities LLC reduced its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 36.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,901 shares of the company's stock after selling 72,255 shares during the quarter. Gagnon Securities LLC owned 0.07% of DoubleVerify worth $2,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DV. Assenagon Asset Management S.A. increased its position in DoubleVerify by 9.6% in the third quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company's stock worth $69,440,000 after buying an additional 360,445 shares during the last quarter. Geneva Capital Management LLC increased its holdings in DoubleVerify by 2.8% in the 3rd quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company's stock worth $43,017,000 after acquiring an additional 69,780 shares during the last quarter. Geode Capital Management LLC raised its stake in DoubleVerify by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company's stock valued at $38,729,000 after acquiring an additional 10,696 shares during the period. Principal Financial Group Inc. lifted its holdings in DoubleVerify by 4.8% during the third quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company's stock valued at $34,264,000 after purchasing an additional 94,095 shares during the last quarter. Finally, Brown Capital Management LLC increased its stake in shares of DoubleVerify by 0.5% in the third quarter. Brown Capital Management LLC now owns 1,762,674 shares of the company's stock worth $29,683,000 after purchasing an additional 7,975 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

DoubleVerify Price Performance

DoubleVerify stock traded up $0.27 during trading hours on Wednesday, reaching $21.94. The company had a trading volume of 543,364 shares, compared to its average volume of 1,443,742. DoubleVerify Holdings, Inc. has a 12-month low of $16.11 and a 12-month high of $43.00. The company has a 50-day moving average price of $20.01 and a 200 day moving average price of $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 has initiated a stock buyback plan on Wednesday, November 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at DoubleVerify

In related news, CFO Nicola T. Allais sold 2,071 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total transaction of $42,476.21. Following the transaction, the chief financial officer now owns 85,882 shares in the company, valued at $1,761,439.82. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DV. Truist Financial lowered their target price on shares of DoubleVerify from $26.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Morgan Stanley cut their target price on DoubleVerify from $21.00 to $19.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Needham & Company LLC reiterated a "buy" rating and set a $22.00 price target on shares of DoubleVerify in a research report on Wednesday, December 11th. JPMorgan Chase & Co. cut their price objective on shares of DoubleVerify from $21.00 to $19.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Finally, Macquarie reaffirmed an "outperform" rating and set a $19.00 target price on shares of DoubleVerify in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, DoubleVerify has an average rating of "Moderate Buy" and an average price target of $24.00.

DoubleVerify Company 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.