Principal Financial Group Inc. Buys 94,095 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Principal Financial Group Inc. lifted its holdings in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,034,655 shares of the company's stock after purchasing an additional 94,095 shares during the period. Principal Financial Group Inc. owned about 1.20% of DoubleVerify worth $34,264,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DV. Envestnet Portfolio Solutions Inc. increased its position in shares of DoubleVerify by 47.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 42,158 shares of the company's stock worth $1,482,000 after acquiring an additional 13,579 shares in the last quarter. Swiss National Bank increased its position in shares of DoubleVerify by 15.4% in the first quarter. Swiss National Bank now owns 286,200 shares of the company's stock worth $10,063,000 after acquiring an additional 38,200 shares in the last quarter. Sei Investments Co. increased its position in shares of DoubleVerify by 3.1% in the first quarter. Sei Investments Co. now owns 459,850 shares of the company's stock worth $16,168,000 after acquiring an additional 14,000 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of DoubleVerify by 22.0% in the first quarter. Russell Investments Group Ltd. now owns 183,243 shares of the company's stock worth $6,443,000 after acquiring an additional 33,003 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of DoubleVerify by 186.8% in the first quarter. US Bancorp DE now owns 93,381 shares of the company's stock worth $3,283,000 after acquiring an additional 60,824 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

DoubleVerify Price Performance

DV stock traded up $0.26 during midday trading on Tuesday, reaching $20.40. The company had a trading volume of 2,644,610 shares, compared to its average volume of 2,385,660. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 54.43, a price-to-earnings-growth ratio of 2.45 and a beta of 0.90. The stock has a 50 day moving average price of $17.54 and a 200-day moving average price of $19.29. DoubleVerify Holdings, Inc. has a 1-year low of $16.11 and a 1-year high of $43.00.

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

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the company's stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $17.28, for a total transaction of $30,481.92. Following the transaction, the chief financial officer now directly owns 81,598 shares of the company's stock, valued at $1,410,013.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 7,056 shares of company stock worth $119,634 over the last ninety days. Insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company started coverage on shares of DoubleVerify in a report on Monday, October 28th. They set an "underweight" rating and a $14.00 price target for the company. Stifel Nicolaus reduced their price objective on shares of DoubleVerify from $25.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $33.00 target price on shares of DoubleVerify in a research report on Tuesday, September 17th. Royal Bank of Canada lowered their price target on shares of DoubleVerify from $27.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday, November 7th. Finally, JMP Securities reduced their target price on shares of DoubleVerify from $33.00 to $25.00 and set a "market outperform" rating on the stock in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.47.

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.