GSA Capital Partners LLP Has $1.22 Million Stake in DoubleVerify Holdings, Inc. (NYSE:DV)

GSA Capital Partners LLP increased its stake in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 280.9% during the third quarter, HoldingsChannel.com reports. The fund owned 72,309 shares of the company’s stock after purchasing an additional 53,326 shares during the period. GSA Capital Partners LLP’s holdings in DoubleVerify were worth $1,218,000 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. boosted its stake in DoubleVerify by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,727,359 shares of the company’s stock valued at $552,974,000 after purchasing an additional 216,370 shares during the period. Swiss National Bank lifted its position in shares of DoubleVerify by 15.4% in the 1st quarter. Swiss National Bank now owns 286,200 shares of the company’s stock worth $10,063,000 after acquiring an additional 38,200 shares during the period. Russell Investments Group Ltd. lifted its position in shares of DoubleVerify by 22.0% in the 1st quarter. Russell Investments Group Ltd. now owns 183,243 shares of the company’s stock worth $6,443,000 after acquiring an additional 33,003 shares during the period. NWI Management LP bought a new stake in shares of DoubleVerify in the 1st quarter worth approximately $1,758,000. Finally, UniSuper Management Pty Ltd bought a new stake in shares of DoubleVerify in the 1st quarter worth approximately $937,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

DoubleVerify Price Performance

Shares of DoubleVerify stock opened at $20.05 on Friday. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 54.19, a price-to-earnings-growth ratio of 2.43 and a beta of 0.90. The stock’s 50-day moving average is $17.60 and its 200-day moving average is $19.23. DoubleVerify Holdings, Inc. has a one year low of $16.11 and a one year high of $43.00.

DoubleVerify announced that its board has initiated a share repurchase plan on Wednesday, November 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DV. Royal Bank of Canada cut their target price on DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Macquarie restated an “outperform” rating and set a $19.00 target price on shares of DoubleVerify in a research report on Thursday, November 7th. Morgan Stanley cut their target price on DoubleVerify from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price target on shares of DoubleVerify in a report on Tuesday, September 17th. Two equities 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’s stock. Based on data from MarketBeat.com, DoubleVerify currently has an average rating of “Moderate Buy” and an average target price of $24.47.

Insider Activity

In related news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $16.92, for a total value of $29,846.88. Following the sale, the chief financial officer now owns 81,598 shares of the company’s stock, valued at approximately $1,380,638.16. The trade was a 2.12 % 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. Insiders have sold a total of 7,056 shares of company stock worth $119,634 over the last three months. Corporate insiders own 3.00% of the company’s stock.

About DoubleVerify

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.