South Dakota Investment Council Buys 4,619 Shares of DoubleVerify Holdings, Inc. (NYSE:DV)

South Dakota Investment Council boosted its stake in DoubleVerify Holdings, Inc. (NYSE:DV) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 72,019 shares of the company’s stock after purchasing an additional 4,619 shares during the period. South Dakota Investment Council’s holdings in DoubleVerify were worth $1,383,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DV. Geneva Capital Management LLC raised its holdings in shares of DoubleVerify by 2.8% in the 3rd quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock worth $43,017,000 after purchasing an additional 69,780 shares during the period. Geode Capital Management LLC increased its position in DoubleVerify by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,299,192 shares of the company’s stock worth $38,729,000 after buying an additional 10,696 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of DoubleVerify by 4.8% in the third quarter. Principal Financial Group Inc. now owns 2,034,655 shares of the company’s stock valued at $34,264,000 after buying an additional 94,095 shares during the period. Brown Capital Management LLC lifted its position in shares of DoubleVerify by 0.5% during the 3rd quarter. Brown Capital Management LLC now owns 1,762,674 shares of the company’s stock valued at $29,683,000 after buying an additional 7,975 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN bought a new position in shares of DoubleVerify during the 3rd quarter worth $19,457,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of DoubleVerify in a research note on Wednesday, December 11th. Macquarie reissued an “outperform” rating and issued a $19.00 price target on shares of DoubleVerify in a research report on Thursday, November 7th. Barclays cut their price objective on shares of DoubleVerify from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. JMP Securities reissued a “market outperform” rating and set a $25.00 target price on shares of DoubleVerify in a report on Monday, January 27th. Finally, Morgan Stanley cut their price target on DoubleVerify from $21.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, DoubleVerify has an average rating of “Moderate Buy” and a consensus target price of $24.00.

DoubleVerify Price Performance

Shares of DV opened at $21.70 on Monday. DoubleVerify Holdings, Inc. has a 1-year low of $16.11 and a 1-year high of $43.00. The company has a market capitalization of $3.67 billion, a P/E ratio of 58.64, a P/E/G ratio of 2.63 and a beta of 0.99. The firm’s 50 day simple moving average is $20.50 and its 200 day simple moving average is $19.24.

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

Insider Activity

In related news, CFO Nicola T. Allais sold 2,220 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $21.61, for a total value of $47,974.20. Following the completion of the transaction, the chief financial officer now directly owns 85,882 shares in the company, valued at approximately $1,855,910.02. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.