Gagnon Advisors LLC Sells 67,705 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Gagnon Advisors LLC lessened its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 50.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,705 shares of the company’s stock after selling 67,705 shares during the period. DoubleVerify accounts for 0.8% of Gagnon Advisors LLC’s holdings, making the stock its 25th biggest holding. Gagnon Advisors LLC’s holdings in DoubleVerify were worth $1,301,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN bought a new stake in shares of DoubleVerify during the third quarter worth about $19,457,000. Repertoire Partners LP lifted its holdings in shares of DoubleVerify by 1,041.7% in the third quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock valued at $11,535,000 after purchasing an additional 625,000 shares in the last quarter. Algert Global LLC boosted its position in shares of DoubleVerify by 311.4% during the third quarter. Algert Global LLC now owns 615,275 shares of the company’s stock valued at $10,361,000 after buying an additional 465,729 shares during the last quarter. ING Groep NV bought a new stake in DoubleVerify during the third quarter worth $7,378,000. Finally, Assenagon Asset Management S.A. raised its position in DoubleVerify by 9.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock valued at $69,440,000 after buying an additional 360,445 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DV has been the topic of a number of analyst reports. The Goldman Sachs Group cut their price objective on shares of DoubleVerify from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. cut their price target on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. 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 target price on the stock. Canaccord Genuity Group reduced their target price on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Morgan Stanley dropped their price target on DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.00.

DoubleVerify Stock Up 0.1 %

Shares of DV opened at $20.62 on Friday. The stock has a market cap of $3.49 billion, a P/E ratio of 55.73, a P/E/G ratio of 2.41 and a beta of 0.98. The business’s 50 day moving average price is $19.97 and its 200-day moving average price is $19.03. DoubleVerify Holdings, Inc. has a 52 week low of $16.11 and a 52 week high of $43.00.

DoubleVerify announced that its board has approved a share repurchase program on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at DoubleVerify

In related 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 sale, the chief financial officer now directly owns 85,882 shares of the company’s stock, valued at $1,761,439.82. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.00% of the stock is owned by company insiders.

About DoubleVerify

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.