Amalgamated Bank Grows Stake in ACV Auctions Inc. (NASDAQ:ACVA)

Amalgamated Bank increased its stake in ACV Auctions Inc. (NASDAQ:ACVA) by 18.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,120 shares of the company’s stock after acquiring an additional 782 shares during the period. Amalgamated Bank’s holdings in ACV Auctions were worth $93,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Blair William & Co. IL boosted its stake in shares of ACV Auctions by 14.7% during the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after purchasing an additional 1,626 shares during the period. ProShare Advisors LLC lifted its holdings in shares of ACV Auctions by 8.5% during the first quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock valued at $429,000 after purchasing an additional 1,798 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of ACV Auctions by 10.4% during the second quarter. Arizona State Retirement System now owns 41,303 shares of the company’s stock valued at $754,000 after purchasing an additional 3,881 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of ACV Auctions by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 77,547 shares of the company’s stock worth $1,456,000 after purchasing an additional 4,621 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ACV Auctions by 21.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,478 shares of the company’s stock worth $483,000 after buying an additional 4,752 shares during the last quarter. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ACV Auctions

In related news, VP Andrew Peer sold 1,795 shares of the company’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 value of $37,695.00. Following the sale, the vice president now owns 62,956 shares in the company, valued at $1,322,076. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Andrew Peer sold 1,795 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the sale, the vice president now owns 62,956 shares in the company, valued at $1,322,076. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $17.51, for a total value of $569,075.00. Following the completion of the sale, the chief financial officer now owns 503,077 shares in the company, valued at $8,808,878.27. The disclosure for this sale can be found here. In the last three months, insiders sold 734,163 shares of company stock valued at $14,045,915. Corporate insiders own 8.50% of the company’s stock.

ACV Auctions Price Performance

ACVA stock opened at $19.77 on Wednesday. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $21.10. The company has a 50-day moving average price of $18.61 and a 200 day moving average price of $18.26. The stock has a market cap of $3.26 billion, a PE ratio of -41.19 and a beta of 1.55. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. The firm had revenue of $160.62 million during the quarter, compared to analysts’ expectations of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. Equities research analysts anticipate that ACV Auctions Inc. will post -0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACVA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price target on the stock in a report on Monday, June 10th. Raymond James initiated coverage on shares of ACV Auctions in a research note on Friday, September 27th. They set a “market perform” rating and a $22.00 target price on the stock. JMP Securities increased their price objective on shares of ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 17th. Finally, Barrington Research restated an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.57.

About ACV Auctions

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.