27,848 Shares in ACV Auctions Inc. (NASDAQ:ACVA) Purchased by Quadrature Capital Ltd

Quadrature Capital Ltd purchased a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 27,848 shares of the company's stock, valued at approximately $566,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Place Capital Corp boosted 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 worth $56,000 after buying an additional 706 shares during the period. MCF Advisors LLC lifted its position in shares of ACV Auctions by 107.0% during the third quarter. MCF Advisors LLC now owns 1,480 shares of the company's stock worth $30,000 after acquiring an additional 765 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of ACV Auctions by 18.0% in the second quarter. Amalgamated Bank now owns 5,120 shares of the company's stock worth $93,000 after acquiring an additional 782 shares during the period. Blue Trust Inc. boosted its holdings in shares of ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company's stock worth $29,000 after acquiring an additional 884 shares during the period. Finally, Icon Wealth Advisors LLC grew its position in shares of ACV Auctions by 13.5% in the third quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company's stock valued at $225,000 after purchasing an additional 1,317 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company's stock.

ACV Auctions Price Performance

ACVA traded down $0.19 during trading on Monday, reaching $22.15. The stock had a trading volume of 1,065,914 shares, compared to its average volume of 1,261,394. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. The business has a 50-day moving average of $19.91 and a 200-day moving average of $18.87. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $23.46. The stock has a market cap of $3.71 billion, a PE ratio of -47.13 and a beta of 1.70.

Insider Activity

In other ACV Auctions news, COO Vikas Mehta sold 154,324 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $19.19, for a total transaction of $2,961,477.56. Following the completion of the sale, the chief operating officer now directly owns 432,457 shares in the company, valued at $8,298,849.83. This represents a 26.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO George Chamoun sold 111,363 shares of ACV Auctions stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $20.27, for a total value of $2,257,328.01. Following the completion of the transaction, the chief executive officer now owns 928,166 shares in the company, valued at approximately $18,813,924.82. This represents a 10.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 525,937 shares of company stock worth $10,479,997. 8.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ACVA shares. Citigroup increased their price objective on ACV Auctions from $22.00 to $27.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Piper Sandler increased their price target on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. JMP Securities boosted their price objective on shares of ACV Auctions from $21.00 to $24.00 and gave the company a "market outperform" rating in a research note on Tuesday, September 17th. B. Riley upped their target price on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Finally, Jefferies Financial Group raised their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.50.

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.