Riverbridge Partners LLC Sells 240,666 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Riverbridge Partners LLC trimmed its stake in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,683,561 shares of the company's stock after selling 240,666 shares during the quarter. Riverbridge Partners LLC owned approximately 1.59% of DoubleVerify worth $51,551,000 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. Wealth Enhancement Advisory Services LLC raised its holdings in DoubleVerify by 1.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,553 shares of the company's stock valued at $549,000 after acquiring an additional 526 shares in the last quarter. GAMMA Investing LLC grew its position in DoubleVerify by 73.6% during the 4th 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 last quarter. The Manufacturers Life Insurance Company grew its position in DoubleVerify by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,040 shares of the company's stock worth $663,000 after acquiring an additional 1,218 shares during the last quarter. Covestor Ltd grew its position in DoubleVerify by 22.8% during the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company's stock worth $112,000 after acquiring an additional 1,235 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of DoubleVerify by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 367,314 shares of the company's stock valued at $6,185,000 after buying an additional 1,279 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors.

DoubleVerify Trading Down 0.6 %

Shares of DV stock traded down $0.11 during midday trading on Thursday, reaching $19.79. 617,992 shares of the stock were exchanged, compared to its average volume of 1,585,602. DoubleVerify Holdings, Inc. has a 1 year low of $16.11 and a 1 year high of $43.00. The company's 50 day moving average is $19.86 and its two-hundred day moving average is $19.00. The firm has a market cap of $3.35 billion, a PE ratio of 53.47, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98.

DoubleVerify declared that its Board of Directors has authorized a share buyback plan on Wednesday, November 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities research analysts have commented on DV shares. Needham & Company LLC reiterated a "buy" rating and issued a $22.00 price target on shares of DoubleVerify in a research report on Wednesday, December 11th. Scotiabank started coverage on DoubleVerify in a research report on Thursday, December 5th. They issued a "sector outperform" rating and a $24.00 price target on the stock. The Goldman Sachs Group reduced their price target on DoubleVerify from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Wells Fargo & Company started coverage on DoubleVerify in a research report on Monday, October 28th. They issued an "underweight" rating and a $14.00 price target on the stock. Finally, Canaccord Genuity Group dropped their price objective on DoubleVerify from $36.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, DoubleVerify has an average rating of "Moderate Buy" and a consensus 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.