ACV Auctions Inc. (NASDAQ:ACVA) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,517,088 shares of the company's stock after buying an additional 67,969 shares during the quarter. Geode Capital Management LLC owned about 2.11% of ACV Auctions worth $71,516,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its position in 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 purchasing an additional 884 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company's stock worth $30,000 after buying an additional 765 shares during the last quarter. Park Place Capital Corp raised its position in shares of ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company's stock valued at $56,000 after buying an additional 706 shares in the last quarter. Amalgamated Bank raised its position in shares of ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company's stock valued at $93,000 after buying an additional 782 shares in the last quarter. Finally, Verdence Capital Advisors LLC bought a new position in shares of ACV Auctions in the 3rd quarter valued at about $206,000. Institutional investors own 88.55% of the company's stock.

ACV Auctions Stock Up 4.5 %

NASDAQ ACVA traded up $0.95 during trading on Friday, hitting $21.89. The company's stock had a trading volume of 4,195,447 shares, compared to its average volume of 1,274,622. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $23.46. The company has a market cap of $3.67 billion, a PE ratio of -46.57 and a beta of 1.70. 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 business's 50 day simple moving average is $20.32 and its 200-day simple moving average is $19.06.

Insider Buying and Selling

In other news, CFO William Zerella sold 32,500 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $22.41, for a total value of $728,325.00. Following the transaction, the chief financial officer now directly owns 490,482 shares of the company's stock, valued at approximately $10,991,701.62. This represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Waterman sold 16,098 shares of ACV Auctions stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $19.95, for a total value of $321,155.10. Following the sale, the insider now directly owns 348,155 shares of the company's stock, valued at $6,945,692.25. This trade represents a 4.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,099 shares of company stock worth $1,998,394 in the last three months. Corporate insiders own 8.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ACVA. Citigroup upped their price objective on ACV Auctions from $22.00 to $27.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. JMP Securities reaffirmed a "market outperform" rating and issued a $25.00 price target on shares of ACV Auctions in a research note on Monday, December 16th. Raymond James started coverage on ACV Auctions in a research note on Friday, September 27th. They issued a "market perform" rating and a $22.00 price objective on the stock. Piper Sandler raised 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. Finally, Jefferies Financial Group boosted 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 analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.60.

About ACV Auctions

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.