Cornercap Investment Counsel Inc. Takes Position in DoubleVerify Holdings, Inc. (NYSE:DV)

Cornercap Investment Counsel Inc. acquired a new position in shares of DoubleVerify Holdings, Inc. (NYSE:DV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,190 shares of the company’s stock, valued at approximately $222,000.

Several other large investors have also added to or reduced their stakes in DV. Assenagon Asset Management S.A. purchased a new stake in shares of DoubleVerify in the second quarter worth about $73,268,000. Burgundy Asset Management Ltd. purchased a new stake in DoubleVerify in the 2nd quarter worth approximately $54,099,000. Mackenzie Financial Corp bought a new position in DoubleVerify in the 2nd quarter valued at $53,015,000. Jericho Capital Asset Management L.P. purchased a new position in shares of DoubleVerify during the 1st quarter valued at $53,584,000. Finally, Capital International Investors increased its holdings in shares of DoubleVerify by 104.7% in the first quarter. Capital International Investors now owns 1,681,385 shares of the company’s stock worth $59,117,000 after purchasing an additional 859,922 shares during the period. Institutional investors own 97.29% of the company’s stock.

DoubleVerify Stock Up 0.4 %

Shares of NYSE:DV opened at $19.21 on Tuesday. The company’s fifty day moving average is $17.65 and its 200 day moving average is $18.93. DoubleVerify Holdings, Inc. has a 52 week low of $16.11 and a 52 week high of $43.00. The stock has a market cap of $3.25 billion, a PE ratio of 51.92, a PEG ratio of 3.03 and a beta of 0.90.

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

Insider Transactions at DoubleVerify

In related news, CFO Nicola T. Allais sold 1,764 shares of the firm’s stock in a transaction that occurred 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 directly owns 81,598 shares in the company, valued at $1,380,638.16. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 8,820 shares of company stock worth $155,444. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

DV has been the subject of several research analyst reports. Wells Fargo & Company initiated coverage on DoubleVerify in a research note on Monday, October 28th. They set an “underweight” rating and a $14.00 price objective for the company. Morgan Stanley dropped their price target 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. JMP Securities decreased their price objective on shares of DoubleVerify from $33.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Thursday, November 7th. Barclays lowered their target price on shares of DoubleVerify from $27.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Royal Bank of Canada cut their price target on shares of DoubleVerify from $27.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, DoubleVerify 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.