Intech Investment Management LLC Invests $815,000 in ACV Auctions Inc. (NASDAQ:ACVA)

Intech Investment Management LLC purchased a new position in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 40,085 shares of the company's stock, valued at approximately $815,000.

Other large investors have also modified their holdings of the company. Blue Trust Inc. increased its holdings in ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company's stock valued at $29,000 after buying an additional 884 shares during the last quarter. MCF Advisors LLC raised its holdings in ACV Auctions by 107.0% during the third quarter. MCF Advisors LLC now owns 1,480 shares of the company's stock worth $30,000 after purchasing an additional 765 shares in the last quarter. Park Place Capital Corp lifted 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 worth $56,000 after buying an additional 706 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of ACV Auctions by 18.0% in 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 purchased a new position in shares of ACV Auctions in the 3rd quarter valued at $206,000. Hedge funds and other institutional investors own 88.55% of the company's stock.

ACV Auctions Stock Performance

Shares of ACVA stock traded down $0.09 during mid-day trading on Friday, reaching $22.62. The company's stock had a trading volume of 569,768 shares, compared to its average volume of 1,263,299. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. The company's 50 day simple moving average is $19.65 and its 200-day simple moving average is $18.66. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month high of $23.46.

Insider Activity at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 76,856 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $20.26, for a total transaction of $1,557,102.56. Following the transaction, the chief financial officer now directly owns 503,077 shares in the company, valued at $10,192,340.02. This represents a 13.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Andrew Peer sold 1,795 shares of the company's 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 completion of the sale, the vice president now owns 62,956 shares in the company, valued at approximately $1,322,076. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 525,937 shares of company stock valued at $10,479,997. Corporate insiders own 8.50% of the company's stock.

Wall Street Analyst Weigh In

ACVA has been the topic of several research analyst reports. B. Riley lifted their price target on ACV Auctions from $24.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday. Piper Sandler upped their price target on shares of ACV Auctions from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Barrington Research reissued an "outperform" rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Monday, November 4th. Needham & Company LLC reissued a "buy" rating and set a $26.00 price target on shares of ACV Auctions in a report on Tuesday. Finally, Jefferies Financial Group increased their price objective on ACV Auctions from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Two 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 stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.50.

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.