Crestwood Capital Management L.P. Has $6.30 Million Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

Crestwood Capital Management L.P. cut its stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 22.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 374,157 shares of the company’s stock after selling 109,916 shares during the quarter. DoubleVerify comprises approximately 4.9% of Crestwood Capital Management L.P.’s investment portfolio, making the stock its 11th largest holding. Crestwood Capital Management L.P.’s holdings in DoubleVerify were worth $6,301,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DV. CWM LLC lifted its holdings in DoubleVerify by 212.5% in the second quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after buying an additional 1,900 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of DoubleVerify during the 3rd quarter valued at about $49,000. Fifth Third Bancorp grew its stake in DoubleVerify by 72.3% during the second quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after purchasing an additional 1,742 shares during the period. KBC Group NV increased its holdings in DoubleVerify by 35.8% in the third 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, Parkside Financial Bank & Trust lifted its stake in DoubleVerify by 37.6% in the second quarter. Parkside Financial Bank & Trust now owns 6,604 shares of the company’s stock valued at $129,000 after buying an additional 1,806 shares during the period. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Up 2.8 %

DV stock opened at $20.63 on Tuesday. The firm has a market cap of $3.49 billion, a PE ratio of 55.76, a P/E/G ratio of 3.18 and a beta of 0.90. The business has a 50 day moving average of $17.88 and a 200-day moving average of $18.72. DoubleVerify Holdings, Inc. has a 12-month low of $16.11 and a 12-month high of $43.00.

DoubleVerify announced that its Board of Directors has initiated a stock buyback program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to buy up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently weighed in on DV. Wells Fargo & Company assumed coverage on shares of DoubleVerify in a research note on Monday, October 28th. They issued an “underweight” rating and a $14.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target on shares of DoubleVerify in a research note on Tuesday, September 17th. Barclays lowered their target price on DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. JMP Securities reduced their price target on shares of DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating for the company in a research report on Thursday, November 7th. Finally, Truist Financial lowered their price objective 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, DoubleVerify presently has a consensus rating of “Moderate Buy” and an average target price of $24.47.

Insiders Place Their Bets

In related news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $16.92, for a total transaction of $29,846.88. Following the completion of the sale, the chief financial officer now owns 81,598 shares in the company, valued at approximately $1,380,638.16. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 8,820 shares of company stock valued at $155,444. Insiders own 3.00% of the company’s stock.

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.