HighTower Advisors LLC Has $515,000 Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

HighTower Advisors LLC grew its position in ACV Auctions Inc. (NASDAQ:ACVA) by 21.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 25,159 shares of the company’s stock after purchasing an additional 4,464 shares during the period. HighTower Advisors LLC’s holdings in ACV Auctions were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ACVA. Blue Trust Inc. grew its holdings in 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 in the last quarter. MCF Advisors LLC grew its stake in shares of 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 in the last quarter. Park Place Capital Corp increased its position in ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after acquiring an additional 706 shares during the period. Amalgamated Bank raised its stake in ACV Auctions by 18.0% in the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after purchasing an additional 782 shares in the last quarter. Finally, Verdence Capital Advisors LLC bought a new stake in ACV Auctions in the 3rd quarter valued at about $206,000. 88.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ACV Auctions

In other ACV Auctions news, insider Michael Waterman sold 16,098 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $19.95, for a total transaction of $321,155.10. Following the sale, the insider now owns 348,155 shares of the company’s stock, valued at approximately $6,945,692.25. The trade was a 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $22.41, for a total transaction of $728,325.00. Following the transaction, the chief financial officer now owns 490,482 shares of the company’s stock, valued at $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. In the last three months, insiders have sold 99,099 shares of company stock valued at $1,998,394. 8.50% of the stock is owned by insiders.

ACV Auctions Stock Up 4.5 %

Shares of NASDAQ ACVA opened at $21.89 on Friday. The company has a market cap of $3.67 billion, a price-to-earnings ratio of -46.57 and a beta of 1.70. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $23.46. The stock has a 50-day moving average price of $20.32 and a two-hundred day moving average price of $19.06.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ACVA shares. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 target price on shares of ACV Auctions in a report on Tuesday, November 26th. Citigroup raised their price objective on ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Barrington Research reiterated an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. B. Riley raised their price target on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Raymond James assumed coverage on shares of ACV Auctions in a research report on Friday, September 27th. They set a “market perform” rating and a $22.00 price objective for the company. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.60.

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.