Advantage Alpha Capital Partners LP Trims Stock Holdings in DoubleVerify Holdings, Inc. (NYSE:DV)

Advantage Alpha Capital Partners LP lessened its position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 54.6% during the 3rd quarter, Holdings Channel reports. The firm owned 126,011 shares of the company’s stock after selling 151,723 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in DoubleVerify were worth $2,122,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in DoubleVerify in the third quarter valued at $49,000. CWM LLC raised its position in DoubleVerify by 212.5% during the second quarter. CWM LLC now owns 2,794 shares of the company’s stock valued at $54,000 after acquiring an additional 1,900 shares in the last quarter. Fifth Third Bancorp boosted its position in DoubleVerify by 72.3% in the 2nd quarter. Fifth Third Bancorp now owns 4,151 shares of the company’s stock worth $81,000 after purchasing an additional 1,742 shares in the last quarter. KBC Group NV grew its stake in shares of DoubleVerify by 35.8% during the 3rd quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after purchasing an additional 1,325 shares during the period. Finally, Covestor Ltd increased its holdings in shares of DoubleVerify by 22.8% during the 3rd quarter. Covestor Ltd now owns 6,643 shares of the company’s stock valued at $112,000 after purchasing an additional 1,235 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

DoubleVerify Stock Up 2.8 %

Shares of NYSE DV opened at $20.63 on Tuesday. The firm has a 50-day simple moving average of $17.88 and a 200-day simple moving average of $18.72. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 55.76, a price-to-earnings-growth ratio of 3.18 and a beta of 0.90. DoubleVerify Holdings, Inc. has a 52 week low of $16.11 and a 52 week high of $43.00.

DoubleVerify announced that its board has initiated a stock buyback program on Wednesday, November 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at DoubleVerify

In other news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Friday, October 4th. The stock was sold at an average price of $16.92, for a total transaction of $29,846.88. Following the transaction, the chief financial officer now owns 81,598 shares in the company, valued at $1,380,638.16. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 8,820 shares of company stock valued at $155,444. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on DV shares. Barclays lowered their price target on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Stifel Nicolaus lowered their target price 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. Needham & Company LLC restated a “buy” rating and issued a $33.00 price target on shares of DoubleVerify in a research note on Tuesday, September 17th. JPMorgan Chase & Co. reduced their price target on DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Canaccord Genuity Group dropped their price objective on DoubleVerify from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, DoubleVerify presently has a consensus rating of “Moderate Buy” and an average target price of $24.47.

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.