ACV Auctions Inc. (NASDAQ:ACVA) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its holdings in ACV Auctions Inc. (NASDAQ:ACVA) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,958 shares of the company’s stock after purchasing an additional 1,670 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ACV Auctions were worth $548,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ACVA. Blue Trust Inc. boosted its holdings in shares of ACV Auctions by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after buying an additional 884 shares during the period. MCF Advisors LLC boosted its stake in ACV Auctions by 107.0% in the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after acquiring an additional 765 shares during the period. Park Place Capital Corp boosted its stake in ACV Auctions by 34.1% in the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after acquiring an additional 706 shares during the period. Amalgamated Bank grew its holdings in shares of ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after purchasing an additional 782 shares during the last quarter. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of ACV Auctions during the 3rd quarter worth approximately $206,000. Institutional investors own 88.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ACVA. Raymond James assumed coverage on ACV Auctions in a research note on Friday, September 27th. They set a “market perform” rating and a $22.00 price objective for the company. Jefferies Financial Group upped their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JMP Securities boosted their target price 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 raised their price target on shares of ACV Auctions from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Barrington Research reiterated an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.63.

ACV Auctions Price Performance

Shares of NASDAQ:ACVA opened at $20.72 on Friday. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -44.09 and a beta of 1.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $21.31. The stock’s 50 day moving average price is $19.29 and its 200 day moving average price is $18.41.

Insider Activity

In related news, VP Andrew Peer sold 1,795 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $21.00, for a total value of $37,695.00. Following the sale, the vice president now directly owns 62,956 shares in the company, valued at $1,322,076. The trade was a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Vikas Mehta sold 145,928 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $18.71, for a total transaction of $2,730,312.88. Following the sale, the chief operating officer now directly owns 468,505 shares of the company’s stock, valued at approximately $8,765,728.55. This represents a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 709,426 shares of company stock worth $13,792,090. 8.50% of the stock is owned by company insiders.

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.