DoubleVerify Holdings, Inc. (NYSE:DV) Shares Sold by Summit Creek Advisors LLC

Summit Creek Advisors LLC lowered its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 9.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 270,500 shares of the company’s stock after selling 26,827 shares during the period. Summit Creek Advisors LLC owned about 0.16% of DoubleVerify worth $5,267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its position in DoubleVerify by 62.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 118,415 shares of the company’s stock worth $4,163,000 after purchasing an additional 45,689 shares during the last quarter. Principal Financial Group Inc. raised its stake in DoubleVerify by 9.5% during the 4th quarter. Principal Financial Group Inc. now owns 2,131,473 shares of the company’s stock valued at $78,396,000 after acquiring an additional 185,458 shares during the last quarter. Congress Asset Management Co. MA lifted its position in DoubleVerify by 813.2% during the 1st quarter. Congress Asset Management Co. MA now owns 4,017,499 shares of the company’s stock worth $141,255,000 after acquiring an additional 3,577,575 shares during the period. Norden Group LLC purchased a new position in shares of DoubleVerify in the 1st quarter valued at approximately $15,297,000. Finally, Ranger Investment Management L.P. raised its stake in shares of DoubleVerify by 26.6% during the fourth quarter. Ranger Investment Management L.P. now owns 907,313 shares of the company’s stock worth $33,371,000 after purchasing an additional 190,786 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

DoubleVerify Stock Down 1.1 %

Shares of DV stock opened at $19.09 on Friday. The firm’s 50 day moving average price is $19.67 and its two-hundred day moving average price is $24.82. DoubleVerify Holdings, Inc. has a fifty-two week low of $17.50 and a fifty-two week high of $43.00. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 50.24, a price-to-earnings-growth ratio of 2.63 and a beta of 0.93.

DoubleVerify (NYSE:DV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $155.89 million during the quarter, compared to analyst estimates of $153.78 million. DoubleVerify had a net margin of 9.97% and a return on equity of 5.70%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the business earned $0.07 EPS. On average, equities analysts forecast that DoubleVerify Holdings, Inc. will post 0.3 EPS for the current fiscal year.

DoubleVerify announced that its board has approved a share repurchase program on Thursday, May 16th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $20.16, for a total value of $35,562.24. Following the sale, the chief financial officer now directly owns 77,314 shares in the company, valued at approximately $1,558,650.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 5,292 shares of company stock worth $104,835 in the last ninety days. 3.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DV has been the subject of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $33.00 price target on shares of DoubleVerify in a report on Wednesday, July 31st. BMO Capital Markets decreased their target price on shares of DoubleVerify from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price target on shares of DoubleVerify in a report on Friday, June 14th. The Goldman Sachs Group boosted their price objective on shares of DoubleVerify from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Macquarie reaffirmed an “outperform” rating and issued a $25.00 target price on shares of DoubleVerify in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DoubleVerify has a consensus rating of “Moderate Buy” and an average target price of $31.53.

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.