US Bancorp DE Sells 40,604 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

US Bancorp DE lessened its stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 38.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,717 shares of the company's stock after selling 40,604 shares during the quarter. US Bancorp DE's holdings in DoubleVerify were worth $1,107,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DV. Assenagon Asset Management S.A. acquired a new stake in shares of DoubleVerify during the second quarter worth $73,268,000. Burgundy Asset Management Ltd. purchased a new position in DoubleVerify during the 2nd quarter worth approximately $54,099,000. Mackenzie Financial Corp acquired a new stake in DoubleVerify during the 2nd quarter valued at $53,015,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of DoubleVerify in the first quarter valued at $53,584,000. Finally, Capital International Investors grew its holdings in shares of DoubleVerify by 104.7% during the first quarter. Capital International Investors now owns 1,681,385 shares of the company's stock valued at $59,117,000 after buying an additional 859,922 shares in the last quarter. Institutional investors own 97.29% of the company's stock.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $17.28, for a total value of $30,481.92. Following the transaction, the chief financial officer now directly owns 81,598 shares of the company's stock, valued at approximately $1,410,013.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 7,056 shares of company stock worth $119,634. Company insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Truist Financial reduced their price objective on DoubleVerify from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday. Wells Fargo & Company assumed coverage on shares of DoubleVerify in a research report on Monday, October 28th. They set an "underweight" rating and a $14.00 price objective on the stock. Piper Sandler cut their target price on shares of DoubleVerify from $30.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Stifel Nicolaus dropped their price target on shares of DoubleVerify from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Finally, Royal Bank of Canada lowered their target price on DoubleVerify from $27.00 to $22.00 and set an "outperform" rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.47.

DoubleVerify Price Performance

Shares of NYSE:DV traded down $0.39 during trading on Friday, reaching $19.33. The stock had a trading volume of 5,072,401 shares, compared to its average volume of 2,184,992. The stock has a market capitalization of $3.29 billion, a PE ratio of 52.24, a P/E/G ratio of 2.73 and a beta of 0.90. DoubleVerify Holdings, Inc. has a 52 week low of $16.11 and a 52 week high of $43.00. The business's 50-day moving average price is $17.53 and its 200 day moving average price is $19.52.

DoubleVerify (NYSE:DV - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. DoubleVerify had a net margin of 10.33% and a return on equity of 6.04%. The business had revenue of $169.56 million for the quarter, compared to the consensus estimate of $168.93 million. Analysts forecast that DoubleVerify Holdings, Inc. will post 0.3 EPS for the current year.

DoubleVerify declared that its board has initiated a share repurchase plan on Wednesday, November 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.