Iridian Asset Management LLC CT Has $23.89 Million Stock Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Iridian Asset Management LLC CT raised its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,106,154 shares of the company's stock after buying an additional 44,073 shares during the period. ACV Auctions comprises about 6.4% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 3rd biggest holding. Iridian Asset Management LLC CT owned 0.66% of ACV Auctions worth $23,893,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ACVA. Blue Trust Inc. raised 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 acquiring an additional 884 shares in the last quarter. MCF Advisors LLC boosted its position 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% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company's stock worth $56,000 after purchasing an additional 706 shares during the last quarter. KBC Group NV grew its holdings in ACV Auctions by 80.4% during the 4th quarter. KBC Group NV now owns 7,406 shares of the company's stock worth $160,000 after acquiring an additional 3,300 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of ACV Auctions during the third quarter worth $206,000. Hedge funds and other institutional investors own 88.55% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ACVA shares. Needham & Company LLC reiterated a "buy" rating and set a $28.00 target price (up previously from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. Piper Sandler lifted their price objective on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Jefferies Financial Group raised their target price 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. Barrington Research restated an "outperform" rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Monday, November 4th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $25.00 target price on shares of ACV Auctions in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.65.

Insiders Place Their Bets

In related news, insider Michael Waterman sold 30,162 shares of the firm's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total transaction of $619,225.86. Following the transaction, the insider now directly owns 314,738 shares of the company's stock, valued at approximately $6,461,571.14. This trade represents a 8.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $21.65, for a total value of $703,625.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares in the company, valued at approximately $10,618,935.30. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,162 shares of company stock valued at $2,663,776. Insiders own 8.50% of the company's stock.

ACV Auctions Stock Down 0.9 %

ACVA stock traded down $0.20 during midday trading on Tuesday, reaching $21.41. 586,025 shares of the company's stock traded hands, compared to its average volume of 1,157,858. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. ACV Auctions Inc. has a 52 week low of $13.52 and a 52 week high of $23.46. The company has a market cap of $3.59 billion, a price-to-earnings ratio of -45.52 and a beta of 1.69. The firm's fifty day moving average price is $21.38 and its 200-day moving average price is $19.93.

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.