DoubleVerify Holdings, Inc. (NYSE:DV) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in DoubleVerify Holdings, Inc. (NYSE:DV) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,978,542 shares of the company’s stock after selling 56,113 shares during the quarter. Principal Financial Group Inc. owned about 1.17% of DoubleVerify worth $38,008,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Neo Ivy Capital Management purchased a new stake in shares of DoubleVerify in the third quarter valued at about $794,000. GSA Capital Partners LLP boosted its stake in DoubleVerify by 280.9% during the third quarter. GSA Capital Partners LLP now owns 72,309 shares of the company’s stock worth $1,218,000 after buying an additional 53,326 shares during the period. Repertoire Partners LP boosted its stake in DoubleVerify by 1,041.7% during the third quarter. Repertoire Partners LP now owns 685,000 shares of the company’s stock worth $11,535,000 after buying an additional 625,000 shares during the period. Geode Capital Management LLC boosted its stake in DoubleVerify by 0.5% during 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 period. Finally, Geneva Capital Management LLC boosted its stake in DoubleVerify by 2.8% during the third quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company’s stock worth $43,017,000 after buying an additional 69,780 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Down 2.9 %

Shares of NYSE:DV opened at $21.70 on Friday. The firm’s 50 day moving average price is $20.50 and its 200 day moving average price is $19.23. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 58.64, a price-to-earnings-growth ratio of 2.65 and a beta of 0.99. DoubleVerify Holdings, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $43.00.

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

Insider Activity at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 2,071 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total transaction of $42,476.21. Following the sale, the chief financial officer now owns 85,882 shares of the company’s stock, valued at approximately $1,761,439.82. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on DV. Canaccord Genuity Group lowered their target price on shares of DoubleVerify from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on shares of DoubleVerify from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Truist Financial lowered their target price on shares of DoubleVerify from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. BMO Capital Markets lowered their target price on shares of DoubleVerify from $38.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Wells Fargo & Company began coverage on shares of DoubleVerify in a research note on Monday, October 28th. They set an “underweight” rating and a $14.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.00.

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.