Burgundy Asset Management Ltd. Acquires Shares of 2,778,586 DoubleVerify Holdings, Inc. (NYSE:DV)

Burgundy Asset Management Ltd. bought a new position in DoubleVerify Holdings, Inc. (NYSE:DV) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,778,586 shares of the company’s stock, valued at approximately $54,099,000. Burgundy Asset Management Ltd. owned about 1.62% of DoubleVerify at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in DV. 1492 Capital Management LLC grew its stake in shares of DoubleVerify by 1.0% in the 4th quarter. 1492 Capital Management LLC now owns 56,389 shares of the company’s stock worth $2,074,000 after buying an additional 553 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of DoubleVerify by 65.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock valued at $55,000 after acquiring an additional 587 shares during the last quarter. United Services Automobile Association grew its position in DoubleVerify by 7.4% in the second quarter. United Services Automobile Association now owns 10,798 shares of the company’s stock worth $210,000 after acquiring an additional 746 shares in the last quarter. Whittier Trust Co. bought a new stake in DoubleVerify during the first quarter worth approximately $28,000. Finally, Insight Wealth Strategies LLC increased its stake in DoubleVerify by 1.3% during the first quarter. Insight Wealth Strategies LLC now owns 61,883 shares of the company’s stock worth $2,176,000 after acquiring an additional 810 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DV. Truist Financial dropped their target price on DoubleVerify from $32.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday. Morgan Stanley lifted their price objective on shares of DoubleVerify from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Macquarie reissued an “outperform” rating and issued a $25.00 target price on shares of DoubleVerify in a research note on Wednesday, July 31st. Barclays lowered their target price on shares of DoubleVerify from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price target on shares of DoubleVerify in a report on Friday, June 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DoubleVerify presently has an average rating of “Moderate Buy” and a consensus price target of $31.18.

DoubleVerify Stock Up 0.8 %

Shares of NYSE:DV opened at $17.29 on Thursday. The business’s 50 day moving average is $19.25 and its 200 day moving average is $23.34. The stock has a market cap of $2.97 billion, a P/E ratio of 45.50, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92. DoubleVerify Holdings, Inc. has a 52-week low of $16.93 and a 52-week high of $43.00.

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

Insider Buying and Selling at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $20.16, for a total value of $35,562.24. Following the completion of the sale, the chief financial officer now owns 77,314 shares of the company’s stock, valued at approximately $1,558,650.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 5,292 shares of company stock valued at $104,835. Company 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.