ACV Auctions Inc. (NASDAQ:ACVA) Shares Sold by Royce & Associates LP

Royce & Associates LP lessened its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 798,674 shares of the company’s stock after selling 39,180 shares during the quarter. Royce & Associates LP owned approximately 0.48% of ACV Auctions worth $16,237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of ACV Auctions by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after acquiring an additional 884 shares during the last quarter. MCF Advisors LLC boosted its position in shares of ACV Auctions by 107.0% during the 3rd 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 last quarter. Park Place Capital Corp boosted its position in shares of ACV Auctions by 34.1% during the 3rd 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 last quarter. Amalgamated Bank boosted its position in shares of ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after acquiring an additional 782 shares during the last quarter. Finally, Verdence Capital Advisors LLC acquired a new position in shares of ACV Auctions during the 3rd quarter valued at about $206,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

ACV Auctions Stock Up 3.5 %

Shares of NASDAQ:ACVA opened at $20.72 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market capitalization of $3.45 billion, a PE ratio of -44.09 and a beta of 1.59. The firm’s 50-day moving average is $19.29 and its two-hundred day moving average is $18.40. ACV Auctions Inc. has a 1 year low of $12.84 and a 1 year high of $21.31.

Insiders Place Their Bets

In related news, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 490,482 shares in the company, valued at approximately $9,216,156.78. This represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $37,695.00. Following the sale, the vice president now owns 62,956 shares in the company, valued at $1,322,076. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 709,426 shares of company stock worth $13,792,090 over the last three months. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

ACVA has been the topic of several recent research reports. Barrington Research reissued an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research report on Monday, November 4th. Piper Sandler upped their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Jefferies Financial Group upped their target price on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC upped their target price on shares of ACV Auctions from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, JMP Securities upped 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 report on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.63.

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.