Van Berkom & Associates Inc. Sells 370,905 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

Van Berkom & Associates Inc. decreased its holdings in DoubleVerify Holdings, Inc. (NYSE:DV) by 9.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,504,441 shares of the company’s stock after selling 370,905 shares during the quarter. Van Berkom & Associates Inc.’s holdings in DoubleVerify were worth $67,320,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Handelsbanken Fonder AB lifted its stake in DoubleVerify by 24.9% during the 4th quarter. Handelsbanken Fonder AB now owns 31,600 shares of the company’s stock valued at $607,000 after acquiring an additional 6,300 shares in the last quarter. Ieq Capital LLC lifted its position in shares of DoubleVerify by 725.7% during the fourth quarter. Ieq Capital LLC now owns 191,683 shares of the company’s stock valued at $3,682,000 after purchasing an additional 168,468 shares in the last quarter. Alberta Investment Management Corp purchased a new position in DoubleVerify during the fourth quarter worth about $5,844,000. New York State Common Retirement Fund boosted its holdings in DoubleVerify by 14.8% during the fourth quarter. New York State Common Retirement Fund now owns 506,427 shares of the company’s stock worth $9,728,000 after purchasing an additional 65,270 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in DoubleVerify by 7.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 108,878 shares of the company’s stock worth $2,092,000 after purchasing an additional 7,208 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Performance

Shares of DoubleVerify stock opened at $22.36 on Friday. DoubleVerify Holdings, Inc. has a 52-week low of $16.11 and a 52-week high of $43.00. The company has a fifty day moving average of $20.47 and a 200-day moving average of $19.21. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 60.44, a price-to-earnings-growth ratio of 2.72 and a beta of 0.99.

DoubleVerify declared that its Board of Directors has initiated a share repurchase plan on Wednesday, November 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other DoubleVerify news, CFO Nicola T. Allais sold 2,220 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were 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 in the company, valued at approximately $1,855,910.02. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DV has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. 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 objective on the stock. Canaccord Genuity Group decreased their target price on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Barclays cut their price target on shares of DoubleVerify from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Macquarie restated an “outperform” rating and set a $19.00 price objective on shares of DoubleVerify in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, DoubleVerify presently has an average rating of “Moderate Buy” and a consensus target price 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.