DoubleVerify Holdings, Inc. (NYSE:DV) Shares Bought by Congress Asset Management Co. MA

Congress Asset Management Co. MA increased its stake in DoubleVerify Holdings, Inc. (NYSE:DV) by 47.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 439,924 shares of the company’s stock after acquiring an additional 142,566 shares during the quarter. Congress Asset Management Co. MA owned approximately 0.26% of DoubleVerify worth $16,180,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Motley Fool Asset Management LLC acquired a new stake in shares of DoubleVerify in the fourth quarter worth about $962,000. Principal Financial Group Inc. increased its stake in DoubleVerify by 9.5% during the fourth quarter. Principal Financial Group Inc. now owns 2,131,473 shares of the company’s stock valued at $78,396,000 after acquiring an additional 185,458 shares during the period. Ranger Investment Management L.P. increased its stake in DoubleVerify by 26.6% during the fourth quarter. Ranger Investment Management L.P. now owns 907,313 shares of the company’s stock valued at $33,371,000 after acquiring an additional 190,786 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of DoubleVerify by 40.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 192,772 shares of the company’s stock valued at $5,388,000 after purchasing an additional 55,322 shares during the period. Finally, Honeycomb Asset Management LP bought a new stake in shares of DoubleVerify in the 4th quarter valued at approximately $14,712,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DV has been the topic of several analyst reports. Bank of America lowered DoubleVerify from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $45.00 to $18.00 in a research note on Thursday, May 9th. Truist Financial cut their price target on DoubleVerify from $39.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. TheStreet upgraded shares of DoubleVerify from a “d+” rating to a “c-” rating in a research report on Thursday, February 29th. Macquarie upgraded shares of DoubleVerify from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Monday, March 11th. Finally, The Goldman Sachs Group lowered their target price on DoubleVerify from $38.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, DoubleVerify currently has an average rating of “Moderate Buy” and a consensus target price of $35.05.

DoubleVerify Stock Performance

Shares of NYSE:DV traded up $0.41 during mid-day trading on Friday, reaching $18.70. 3,422,092 shares of the company’s stock were exchanged, compared to its average volume of 2,713,399. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 49.21, a PEG ratio of 2.70 and a beta of 0.92. The business’s fifty day moving average price is $24.04 and its 200-day moving average price is $32.16. DoubleVerify Holdings, Inc. has a twelve month low of $17.50 and a twelve month high of $43.00.

DoubleVerify (NYSE:DV) last released its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.25 million. DoubleVerify had a net margin of 11.25% and a return on equity of 6.46%. DoubleVerify’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 earnings per share. Analysts predict that DoubleVerify Holdings, Inc. will post 0.33 EPS for the current fiscal year.

DoubleVerify declared that its board has authorized a share buyback plan on Thursday, May 16th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CFO Nicola T. Allais sold 5,364 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $32.80, for a total transaction of $175,939.20. Following the completion of the sale, the chief financial officer now directly owns 73,030 shares of the company’s stock, valued at $2,395,384. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other DoubleVerify news, insider Julie Eddleman sold 900 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $33.05, for a total value of $29,745.00. Following the transaction, 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 SEC, which can be accessed through this hyperlink. Also, CFO Nicola T. Allais sold 5,364 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $32.80, for a total transaction of $175,939.20. Following the completion of the transaction, the chief financial officer now owns 73,030 shares in the company, valued at $2,395,384. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,531 shares of company stock worth $3,043,634. Company insiders own 3.00% of the company’s stock.

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.