Burgundy Asset Management Ltd. Has $54.26 Million Stock Position in DoubleVerify Holdings, Inc. $DV

Burgundy Asset Management Ltd. cut its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV) by 30.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,624,876 shares of the company’s stock after selling 1,601,092 shares during the period. Burgundy Asset Management Ltd. owned about 2.22% of DoubleVerify worth $54,264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cooper Creek Partners Management LLC acquired a new position in shares of DoubleVerify during the 2nd quarter worth $38,325,000. SG Capital Management LLC acquired a new position in DoubleVerify during the second quarter worth about $33,642,000. Sunriver Management LLC bought a new position in shares of DoubleVerify in the first quarter worth about $22,485,000. Norges Bank acquired a new stake in shares of DoubleVerify in the 2nd quarter valued at approximately $23,640,000. Finally, Vanguard Group Inc. grew its holdings in shares of DoubleVerify by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 18,466,076 shares of the company’s stock valued at $246,891,000 after purchasing an additional 984,779 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

Insiders Place Their Bets

In related news, insider Andrew E. Grimmig sold 4,096 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $12.99, for a total value of $53,207.04. Following the transaction, the insider owned 96,301 shares in the company, valued at $1,250,949.99. The trade was a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lucy Stamell Dobrin sold 6,392 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $14.51, for a total value of $92,747.92. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 11,488 shares of company stock worth $157,255. Insiders own 3.59% of the company’s stock.

DoubleVerify Stock Up 1.9%

Shares of DV opened at $11.03 on Friday. The stock’s 50-day moving average price is $10.99 and its two-hundred day moving average price is $13.43. DoubleVerify Holdings, Inc. has a 12 month low of $7.64 and a 12 month high of $23.11. The company has a market capitalization of $1.78 billion, a PE ratio of 44.12, a PEG ratio of 1.82 and a beta of 0.99. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 0.01.

DoubleVerify (NYSE:DV) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.13. DoubleVerify had a return on equity of 6.59% and a net margin of 6.10%.The company had revenue of $188.62 million during the quarter, compared to the consensus estimate of $190.43 million. During the same period last year, the company earned $0.10 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. On average, analysts anticipate that DoubleVerify Holdings, Inc. will post 0.36 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on DV. Morgan Stanley dropped their price objective on shares of DoubleVerify from $16.50 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. Scotiabank reiterated an “outperform” rating on shares of DoubleVerify in a research note on Monday, November 10th. Barclays cut their price objective on DoubleVerify from $18.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. Stifel Nicolaus lowered their target price on DoubleVerify from $20.00 to $15.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, Royal Bank Of Canada cut their price target on DoubleVerify from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.38.

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.