Quest Partners LLC Boosts Stock Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Quest Partners LLC grew its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 209,440.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,431 shares of the company’s stock after buying an additional 31,416 shares during the quarter. Quest Partners LLC’s holdings in DoubleVerify were worth $529,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in DoubleVerify by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock valued at $552,974,000 after buying an additional 216,370 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of DoubleVerify by 9.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company’s stock worth $69,440,000 after acquiring an additional 360,445 shares in the last quarter. Van Berkom & Associates Inc. increased its holdings in shares of DoubleVerify by 25.9% in the 2nd quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company’s stock valued at $59,310,000 after acquiring an additional 626,586 shares during the last quarter. Burgundy Asset Management Ltd. acquired a new stake in shares of DoubleVerify during the 2nd quarter valued at approximately $54,099,000. Finally, Mackenzie Financial Corp bought a new position in DoubleVerify during the second quarter worth $53,015,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

DV has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Stifel Nicolaus dropped their price objective on shares of DoubleVerify from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. BMO Capital Markets decreased their target price on DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Truist Financial dropped their price target on DoubleVerify from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group reduced their price objective on DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, DoubleVerify has a consensus rating of “Moderate Buy” and a consensus price target of $24.47.

DoubleVerify Stock Performance

Shares of NYSE DV opened at $20.07 on Friday. DoubleVerify Holdings, Inc. has a 1 year low of $16.11 and a 1 year high of $43.00. The firm has a market cap of $3.40 billion, a P/E ratio of 54.24, a PEG ratio of 3.17 and a beta of 0.90. The stock has a fifty day moving average price of $17.81 and a two-hundred day moving average price of $18.71.

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

Insider Activity at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $16.41, for a total transaction of $28,947.24. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,339,023.18. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 8,820 shares of company stock valued at $155,444 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

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.