DiNuzzo Private Wealth Inc. purchased a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 52,100 shares of the company's stock, valued at approximately $1,125,000.
A number of other hedge funds also recently modified their holdings of ACVA. Massachusetts Financial Services Co. MA raised its position in shares of ACV Auctions by 11.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company's stock valued at $175,969,000 after purchasing an additional 897,477 shares during the period. Jennison Associates LLC raised its holdings in ACV Auctions by 6.8% during the 3rd quarter. Jennison Associates LLC now owns 4,247,932 shares of the company's stock valued at $86,360,000 after acquiring an additional 271,970 shares during the period. Geode Capital Management LLC raised its holdings in ACV Auctions by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,517,088 shares of the company's stock valued at $71,516,000 after acquiring an additional 67,969 shares during the period. State Street Corp lifted its position in shares of ACV Auctions by 3.7% during the third quarter. State Street Corp now owns 3,242,388 shares of the company's stock worth $65,918,000 after acquiring an additional 115,700 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of ACV Auctions by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 3,167,615 shares of the company's stock worth $64,398,000 after acquiring an additional 311,465 shares during the period. Institutional investors own 88.55% of the company's stock.
ACV Auctions Price Performance
Shares of NASDAQ ACVA traded down $0.53 during mid-day trading on Friday, reaching $21.16. 1,356,261 shares of the company were exchanged, compared to its average volume of 1,027,127. The stock has a market capitalization of $3.55 billion, a PE ratio of -45.02 and a beta of 1.69. 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 $12.84 and a 52 week high of $23.46. The company's 50 day moving average price is $21.59 and its 200 day moving average price is $19.80.
Analysts Set New Price Targets
ACVA has been the topic of a number of recent research reports. 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. B. Riley increased their price target 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. JMP Securities reaffirmed a "market outperform" rating and set a $25.00 price objective on shares of ACV Auctions in a research note on Monday, December 16th. Needham & Company LLC reaffirmed 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. Finally, Piper Sandler raised their price target on shares of ACV Auctions from $16.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.65.
Read Our Latest Stock Analysis on ACVA
Insiders Place Their Bets
In other news, insider Michael Waterman sold 30,162 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total value of $619,225.86. Following the completion of the sale, the insider now directly owns 314,738 shares in the company, valued at approximately $6,461,571.14. The trade was a 8.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO William Zerella sold 32,500 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total transaction of $728,325.00. Following the transaction, the chief financial officer now directly owns 490,482 shares in the company, valued at approximately $10,991,701.62. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,162 shares of company stock valued at $2,359,726 over the last 90 days. Insiders own 8.50% of the company's stock.
ACV Auctions Company Profile
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Free Report)
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.
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