ACV Auctions Inc. (NASDAQ:ACVA) Stake Boosted by Atreides Management LP

Atreides Management LP raised its position in ACV Auctions Inc. (NASDAQ:ACVAFree Report) by 5.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,829,070 shares of the company’s stock after acquiring an additional 594,347 shares during the quarter. ACV Auctions makes up about 5.4% of Atreides Management LP’s holdings, making the stock its 7th biggest holding. Atreides Management LP owned about 6.74% of ACV Auctions worth $164,385,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of ACV Auctions by 9.4% during the 3rd quarter. FMR LLC now owns 11,763,945 shares of the company’s stock worth $178,577,000 after buying an additional 1,011,236 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of ACV Auctions by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 10,467,242 shares of the company’s stock worth $75,260,000 after buying an additional 133,774 shares during the last quarter. BlackRock Inc. lifted its position in shares of ACV Auctions by 9.6% during the 2nd quarter. BlackRock Inc. now owns 8,801,884 shares of the company’s stock worth $152,009,000 after buying an additional 770,630 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of ACV Auctions by 4,360.9% in the 2nd quarter. Alliancebernstein L.P. now owns 5,121,100 shares of the company’s stock valued at $88,441,000 after acquiring an additional 5,006,300 shares during the period. Finally, William Blair Investment Management LLC increased its holdings in shares of ACV Auctions by 8.7% in the 3rd quarter. William Blair Investment Management LLC now owns 4,369,867 shares of the company’s stock valued at $66,335,000 after acquiring an additional 350,865 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analyst Upgrades and Downgrades

ACVA has been the topic of a number of recent research reports. JMP Securities cut their target price on shares of ACV Auctions from $20.00 to $19.00 and set a “market outperform” rating on the stock in a report on Tuesday, January 16th. Northcoast Research raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of ACV Auctions in a research note on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, ACV Auctions has an average rating of “Moderate Buy” and an average price target of $20.21.

View Our Latest Report on ACVA

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, COO Vikas Mehta sold 200,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $16.48, for a total value of $3,296,000.00. Following the transaction, the chief operating officer now directly owns 319,036 shares in the company, valued at approximately $5,257,713.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ACV Auctions news, COO Vikas Mehta sold 200,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $16.48, for a total value of $3,296,000.00. Following the transaction, the chief operating officer now directly owns 319,036 shares in the company, valued at approximately $5,257,713.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $14.07, for a total transaction of $457,275.00. Following the completion of the transaction, the chief financial officer now owns 305,579 shares in the company, valued at $4,299,496.53. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 813,691 shares of company stock worth $12,243,778. Corporate insiders own 13.67% of the company’s stock.

ACV Auctions Price Performance

Shares of ACV Auctions stock traded down $0.07 on Thursday, hitting $17.67. The company’s stock had a trading volume of 525,485 shares, compared to its average volume of 1,181,911. The company has a market capitalization of $2.85 billion, a P/E ratio of -38.61 and a beta of 1.41. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average price of $14.44 and a 200-day moving average price of $14.82. ACV Auctions Inc. has a 52-week low of $11.58 and a 52-week high of $18.68.

ACV Auctions Profile

(Free Report)

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company provides data services insights into the condition and value of used vehicles, as well as customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.

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Institutional Ownership by Quarter for ACV Auctions (NASDAQ:ACVA)

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