Principal Financial Group Inc. Has $1.32 Million Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Principal Financial Group Inc. lifted its position in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,925 shares of the company’s stock after acquiring an additional 3,022 shares during the quarter. Principal Financial Group Inc.’s holdings in ACV Auctions were worth $1,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its position 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. MCF Advisors LLC raised its holdings in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after buying an additional 765 shares during the last quarter. Park Place Capital Corp raised its holdings in ACV Auctions by 34.1% in the 3rd 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 during the last quarter. Amalgamated Bank boosted its position in ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after buying an additional 782 shares during the period. Finally, Verdence Capital Advisors LLC bought a new stake in ACV Auctions during the 3rd quarter worth approximately $206,000. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Trading Up 0.4 %

NASDAQ:ACVA opened at $21.02 on Friday. 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 has a market capitalization of $3.52 billion, a price-to-earnings ratio of -44.72 and a beta of 1.70. The firm has a fifty day simple moving average of $20.93 and a two-hundred day simple moving average of $19.32.

Insider Activity

In other news, insider Michael Waterman sold 18,001 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $6,335,800.10. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total transaction of $610,675.00. Following the completion of the sale, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at approximately $9,216,156.78. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,501 shares of company stock worth $2,380,864 in the last three months. Company insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

ACVA has been the topic of a number of recent research reports. Barrington Research reiterated an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a report on Monday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price (up from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. B. Riley increased their price target on ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Raymond James assumed coverage on 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. Finally, Jefferies Financial Group upped their target price on ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.80.

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.