Barclays PLC Purchases 35,155 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Barclays PLC lifted its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 16.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 244,999 shares of the company's stock after purchasing an additional 35,155 shares during the quarter. Barclays PLC owned 0.15% of ACV Auctions worth $4,980,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of ACV Auctions by 217.5% during the second quarter. Bank of New York Mellon Corp now owns 1,391,070 shares of the company's stock worth $25,387,000 after buying an additional 952,929 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of ACV Auctions during the second quarter valued at $8,567,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ACV Auctions by 21.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,478 shares of the company's stock valued at $483,000 after buying an additional 4,752 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of ACV Auctions by 33.1% in the second quarter. Principal Financial Group Inc. now owns 61,903 shares of the company's stock valued at $1,130,000 after buying an additional 15,390 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of ACV Auctions by 17.0% in the second quarter. Rhumbline Advisers now owns 209,976 shares of the company's stock worth $3,832,000 after acquiring an additional 30,450 shares during the period. 88.55% of the stock is owned by institutional investors.

ACV Auctions Stock Performance

Shares of NASDAQ ACVA traded up $0.95 during trading on Friday, reaching $21.89. 4,195,447 shares of the stock traded hands, compared to its average volume of 1,274,622. 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 stock has a market capitalization of $3.67 billion, a P/E ratio of -46.57 and a beta of 1.70. ACV Auctions Inc. has a 52-week low of $12.84 and a 52-week high of $23.46. The company has a 50-day moving average of $20.32 and a 200-day moving average of $19.06.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, insider Michael Waterman sold 18,001 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total value of $338,238.79. Following the sale, the insider now directly owns 337,190 shares in the company, valued at $6,335,800.10. This represents a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William Zerella sold 32,500 shares of the business's stock in a transaction 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 transaction, the chief financial officer now owns 490,482 shares of the company's stock, valued at $9,216,156.78. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 99,099 shares of company stock valued at $1,998,394 over the last three months. 8.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ACVA has been the topic of several recent analyst reports. Barrington Research restated an "outperform" rating and issued a $23.00 target price on shares of ACV Auctions in a report on Monday, November 4th. Piper Sandler boosted their price target on ACV Auctions from $16.00 to $18.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. JMP Securities reiterated a "market outperform" rating and set a $25.00 price objective on shares of ACV Auctions in a report on Monday, December 16th. B. Riley raised their target price on ACV Auctions from $24.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Finally, Citigroup upped their price target on ACV Auctions from $22.00 to $27.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $23.60.

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.