Canandaigua National Bank & Trust Co. Buys New Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

Canandaigua National Bank & Trust Co. bought a new position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 8,560 shares of the company’s stock, valued at approximately $301,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of DoubleVerify by 15.0% in the fourth quarter. Vanguard Group Inc. now owns 15,510,989 shares of the company’s stock worth $570,494,000 after acquiring an additional 2,017,687 shares in the last quarter. Capital World Investors raised its position in DoubleVerify by 6.0% in the 4th quarter. Capital World Investors now owns 5,283,932 shares of the company’s stock valued at $194,343,000 after purchasing an additional 301,011 shares in the last quarter. Wellington Management Group LLP raised its position in DoubleVerify by 19.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,734,735 shares of the company’s stock valued at $76,436,000 after purchasing an additional 441,278 shares in the last quarter. Invesco Ltd. boosted its stake in shares of DoubleVerify by 18.1% in the 3rd quarter. Invesco Ltd. now owns 2,651,003 shares of the company’s stock valued at $74,096,000 after buying an additional 406,444 shares during the period. Finally, Riverbridge Partners LLC grew its position in shares of DoubleVerify by 70.5% during the fourth quarter. Riverbridge Partners LLC now owns 2,319,975 shares of the company’s stock worth $85,329,000 after buying an additional 959,514 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

DV has been the topic of a number of research analyst reports. TheStreet upgraded DoubleVerify from a “d+” rating to a “c-” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. reduced their target price on DoubleVerify from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Macquarie upgraded DoubleVerify from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Monday, March 11th. Canaccord Genuity Group reduced their target price on DoubleVerify from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Needham & Company LLC lowered their price target on shares of DoubleVerify from $45.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.05.

DoubleVerify Stock Performance

Shares of NYSE:DV traded down $0.24 during mid-day trading on Tuesday, hitting $18.54. The stock had a trading volume of 2,221,623 shares, compared to its average volume of 2,334,858. The company’s 50 day moving average is $23.76 and its 200-day moving average is $32.05. DoubleVerify Holdings, Inc. has a 12-month low of $17.50 and a 12-month high of $43.00. The company has a market cap of $3.19 billion, a PE ratio of 49.42, a P/E/G ratio of 2.70 and a beta of 0.93.

DoubleVerify (NYSE:DV) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $140.70 million during the quarter, compared to analyst estimates of $138.25 million. DoubleVerify had a return on equity of 6.46% and a net margin of 11.25%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $0.07 EPS. On average, equities research analysts predict that DoubleVerify Holdings, Inc. will post 0.33 EPS for the current fiscal year.

DoubleVerify announced that its board has authorized a stock buyback program on Thursday, May 16th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other DoubleVerify news, insider Julie Eddleman sold 900 shares of DoubleVerify stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $33.05, for a total value of $29,745.00. Following the completion of the sale, the insider now directly owns 140,702 shares in the company, valued at $4,650,201.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Julie Eddleman sold 900 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $33.05, for a total value of $29,745.00. Following the completion of the transaction, the insider now directly owns 140,702 shares of the company’s stock, valued at $4,650,201.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Andrew E. Grimmig sold 16,667 shares of DoubleVerify stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $33.80, for a total value of $563,344.60. Following the sale, the insider now directly owns 39,468 shares in the company, valued at $1,334,018.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,243 shares of company stock worth $1,161,232. 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.