ACV Auctions Inc. (NASDAQ:ACVA) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in ACV Auctions Inc. (NASDAQ:ACVA) by 11.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,256 shares of the company’s stock after selling 28,262 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.13% of ACV Auctions worth $4,295,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Park Place Capital Corp grew its stake in shares of 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 buying an additional 706 shares in the last quarter. MCF Advisors LLC boosted its holdings 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 purchasing an additional 765 shares during the last quarter. Amalgamated Bank boosted its holdings in ACV Auctions by 18.0% in 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. Blue Trust Inc. boosted its holdings in ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after purchasing an additional 884 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in ACV Auctions by 6.6% in the third quarter. Los Angeles Capital Management LLC now owns 26,958 shares of the company’s stock valued at $548,000 after purchasing an additional 1,670 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

Insider Activity at ACV Auctions

In other news, insider Michael Waterman sold 18,001 shares of ACV Auctions stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $338,238.79. Following the transaction, the insider now directly owns 337,190 shares in the company, valued at approximately $6,335,800.10. This trade represents a 5.07 % decrease in their position. 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 on Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total value of $728,325.00. Following the transaction, the chief financial officer now owns 490,482 shares in the company, valued at approximately $10,991,701.62. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 364,113 shares of company stock worth $7,368,519 in the last three months. 8.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Citigroup increased their price target on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Raymond James began coverage on ACV Auctions in a report on Friday, September 27th. They issued a “market perform” rating and a $22.00 price target for the company. B. Riley increased their target price on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. JMP Securities increased their target price on ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 17th. Finally, Jefferies Financial Group increased their target price on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

ACV Auctions Trading Down 3.3 %

Shares of NASDAQ ACVA opened at $20.94 on Friday. The company has a market cap of $3.51 billion, a price-to-earnings ratio of -44.55 and a beta of 1.70. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month high of $23.46. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. The stock’s 50 day simple moving average is $20.06 and its 200 day simple moving average is $18.95.

ACV Auctions Company 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.