Peregrine Capital Management LLC Trims Holdings in DoubleVerify Holdings, Inc. (NYSE:DV)

Peregrine Capital Management LLC lessened its stake in DoubleVerify Holdings, Inc. (NYSE:DV) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,860,914 shares of the company’s stock after selling 70,372 shares during the period. DoubleVerify comprises about 1.1% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. Peregrine Capital Management LLC’s holdings in DoubleVerify were worth $35,748,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its position in shares of DoubleVerify by 1.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,553 shares of the company’s stock valued at $549,000 after buying an additional 526 shares during the last quarter. GAMMA Investing LLC boosted its stake in DoubleVerify by 73.6% in the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock valued at $39,000 after acquiring an additional 863 shares during the period. Covestor Ltd grew its holdings in shares of DoubleVerify by 22.8% during the third quarter. Covestor Ltd now owns 6,643 shares of the company’s stock valued at $112,000 after purchasing an additional 1,235 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of DoubleVerify by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 367,314 shares of the company’s stock worth $6,185,000 after purchasing an additional 1,279 shares during the period. Finally, KBC Group NV lifted its holdings in shares of DoubleVerify by 35.8% in the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after purchasing an additional 1,325 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DV has been the subject of a number of recent research reports. Piper Sandler lowered their price objective on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective on shares of DoubleVerify in a report on Wednesday, December 11th. Truist Financial reduced their target price on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. JMP Securities restated a “market outperform” rating and issued a $25.00 price target on shares of DoubleVerify in a research note on Monday, January 27th. Finally, Macquarie reaffirmed an “outperform” rating and set a $19.00 price target on shares of DoubleVerify 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 fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

DoubleVerify Trading Down 1.7 %

NYSE:DV opened at $22.61 on Tuesday. The company has a 50-day moving average of $20.33 and a 200-day moving average of $19.15. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 61.12, a price-to-earnings-growth ratio of 2.56 and a beta of 0.99. DoubleVerify Holdings, Inc. has a twelve month low of $16.11 and a twelve month high of $43.00.

DoubleVerify declared that its Board of Directors has approved a stock repurchase program on Wednesday, November 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,220 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $21.61, for a total value of $47,974.20. Following the transaction, the chief financial officer now owns 85,882 shares of the company’s stock, valued at approximately $1,855,910.02. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.00% of the company’s stock.

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.