UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 28,262 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 11.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,256 shares of the company's stock after selling 28,262 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.13% of ACV Auctions worth $4,295,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of ACV Auctions by 11.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company's stock worth $175,969,000 after purchasing an additional 897,477 shares in the last quarter. William Blair Investment Management LLC lifted its position in ACV Auctions by 4.1% during the 2nd quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company's stock worth $91,499,000 after acquiring an additional 198,228 shares in the last quarter. Jennison Associates LLC lifted its position in ACV Auctions by 6.8% during the 3rd quarter. Jennison Associates LLC now owns 4,247,932 shares of the company's stock worth $86,360,000 after acquiring an additional 271,970 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in ACV Auctions by 10.4% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,735,055 shares of the company's stock worth $55,603,000 after acquiring an additional 258,104 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in ACV Auctions by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,103,770 shares of the company's stock valued at $38,394,000 after acquiring an additional 163,380 shares in the last quarter. 88.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACVA has been the topic of several analyst reports. Barrington Research reaffirmed an "outperform" rating and set a $23.00 price target on shares of ACV Auctions in a research note on Monday, November 4th. Raymond James assumed coverage on shares of ACV Auctions in a research report on Friday, September 27th. They set a "market perform" rating and a $22.00 price target for the company. Jefferies Financial Group boosted their target price on ACV Auctions from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Piper Sandler lifted their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Finally, JMP Securities lifted their price target on ACV Auctions from $21.00 to $24.00 and gave the company a "market outperform" rating in a report on Tuesday, September 17th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, ACV Auctions has a consensus rating of "Moderate Buy" and a consensus price target of $23.50.

Insider Activity at ACV Auctions

In other news, CFO William Zerella sold 32,500 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total value of $728,325.00. Following the sale, the chief financial officer now owns 490,482 shares of the company's stock, valued at approximately $10,991,701.62. This represents a 6.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew Peer sold 1,795 shares of ACV Auctions stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $21.00, for a total transaction of $37,695.00. Following the transaction, the vice president now directly owns 62,956 shares of the company's stock, valued at $1,322,076. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 364,113 shares of company stock valued at $7,368,519 over the last quarter. 8.50% of the stock is owned by company insiders.

ACV Auctions Stock Performance

ACV Auctions stock traded down $0.64 on Friday, hitting $20.30. The company's stock had a trading volume of 952,229 shares, compared to its average volume of 1,258,440. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $23.46. The firm has a market cap of $3.40 billion, a P/E ratio of -43.19 and a beta of 1.70. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average price of $20.08 and a 200-day moving average price of $18.95.

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.