Public Employees Retirement Association of Colorado Invests $225,000 in ACV Auctions Inc. (NASDAQ:ACVA)

Public Employees Retirement Association of Colorado acquired a new stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 12,324 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds also recently bought and sold shares of ACVA. Amalgamated Bank lifted its position in shares of ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after purchasing an additional 782 shares during the last quarter. UMB Bank n.a. bought a new stake in ACV Auctions during the 1st quarter valued at about $114,000. Penn Mutual Asset Management LLC purchased a new stake in ACV Auctions in the 4th quarter valued at about $153,000. Blair William & Co. IL boosted its position in ACV Auctions by 14.7% in the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after buying an additional 1,626 shares during the period. Finally, ProShare Advisors LLC grew its stake in ACV Auctions by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock worth $429,000 after acquiring an additional 1,798 shares in the last quarter. Institutional investors own 88.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JMP Securities lifted their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of ACV Auctions in a research report on Monday, June 3rd. Raymond James began coverage on ACV Auctions in a research report on Friday. They set a “market perform” rating and a $22.00 price target on the stock. Barrington Research restated an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. upgraded shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 target price on the stock in a report on Monday, June 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.57.

ACV Auctions Trading Down 1.4 %

Shares of NASDAQ ACVA opened at $20.46 on Friday. ACV Auctions Inc. has a 1-year low of $12.84 and a 1-year high of $21.10. The business has a fifty day moving average price of $18.55 and a 200 day moving average price of $18.22. The stock has a market capitalization of $3.41 billion, a P/E ratio of -42.63 and a beta of 1.55. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. The business had revenue of $160.62 million during the quarter, compared to analyst estimates of $156.33 million. Equities research analysts expect that ACV Auctions Inc. will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Andrew Peer sold 1,795 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total transaction of $37,695.00. Following the completion of the sale, the vice president now owns 62,956 shares in the company, valued at approximately $1,322,076. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Craig Eric Anderson sold 7,500 shares of ACV Auctions stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $17.81, for a total value of $133,575.00. Following the completion of the sale, the insider now directly owns 328,167 shares in the company, valued at approximately $5,844,654.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew Peer sold 1,795 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total transaction of $37,695.00. Following the sale, the vice president now directly owns 62,956 shares in the company, valued at approximately $1,322,076. The disclosure for this sale can be found here. Over the last three months, insiders have sold 741,663 shares of company stock valued at $14,179,490. 8.50% of the stock is currently owned by insiders.

ACV Auctions Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company's marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green's seller assurance service for against claims related to defects in the vehicle.