Legato Capital Management LLC Has $809,000 Stock Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Legato Capital Management LLC reduced its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 23.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,466 shares of the company's stock after selling 11,716 shares during the period. Legato Capital Management LLC's holdings in ACV Auctions were worth $809,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in ACV Auctions by 11.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company's stock worth $175,969,000 after acquiring an additional 897,477 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of ACV Auctions by 17.2% during the fourth quarter. Jennison Associates LLC now owns 4,980,354 shares of the company's stock worth $107,576,000 after purchasing an additional 732,422 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of ACV Auctions by 2.0% in the third quarter. Geode Capital Management LLC now owns 3,517,088 shares of the company's stock valued at $71,516,000 after buying an additional 67,969 shares in the last quarter. State Street Corp raised its holdings in shares of ACV Auctions by 3.7% in the third quarter. State Street Corp now owns 3,242,388 shares of the company's stock valued at $65,918,000 after buying an additional 115,700 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in ACV Auctions by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,167,615 shares of the company's stock worth $64,398,000 after buying an additional 311,465 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company's stock.

Insider Buying and Selling

In other ACV Auctions news, insider Michael Waterman sold 30,162 shares of the stock in a transaction dated Tuesday, January 7th. The stock was 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 $6,461,571.14. This represents a 8.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $21.65, for a total value of $703,625.00. Following the transaction, the chief financial officer now owns 490,482 shares in the company, valued at $10,618,935.30. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,162 shares of company stock valued at $2,663,776 in the last 90 days. 8.50% of the stock is owned by insiders.

ACV Auctions Stock Performance

ACVA remained flat at $21.59 during midday trading on Monday. The company's stock had a trading volume of 1,029,510 shares, compared to its average volume of 1,134,398. The firm has a market cap of $3.62 billion, a PE ratio of -45.94 and a beta of 1.69. ACV Auctions Inc. has a 12-month low of $13.66 and a 12-month high of $23.46. The company's 50 day simple moving average is $21.29 and its 200-day simple moving average is $20.09. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25.

Analyst Ratings Changes

ACVA has been the subject of several research reports. Citigroup raised their price objective on shares of ACV Auctions from $22.00 to $27.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Barrington Research reissued an "outperform" rating and issued a $23.00 price target on shares of ACV Auctions in a report on Monday, November 4th. B. Riley boosted their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Stephens raised ACV Auctions to a "hold" rating in a research note on Saturday, February 1st. Finally, Needham & Company LLC restated a "buy" rating and set a $28.00 target price (up previously from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $23.65.

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.