Allspring Global Investments Holdings LLC Boosts Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Allspring Global Investments Holdings LLC raised its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 23.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 578,266 shares of the company's stock after purchasing an additional 108,861 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.35% of ACV Auctions worth $11,756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its position in shares of ACV Auctions by 47.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,758,163 shares of the company's stock valued at $141,586,000 after acquiring an additional 2,502,064 shares in the last quarter. William Blair Investment Management LLC boosted its stake in ACV Auctions by 4.1% in the second quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company's stock valued at $91,499,000 after acquiring an additional 198,228 shares during the period. Jennison Associates LLC grew its holdings in shares of ACV Auctions by 11.0% during the first quarter. Jennison Associates LLC now owns 3,954,432 shares of the company's stock valued at $74,225,000 after purchasing an additional 393,423 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in ACV Auctions by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,103,770 shares of the company's stock valued at $38,394,000 after purchasing an additional 163,380 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its stake in ACV Auctions by 45.6% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,765,822 shares of the company's stock valued at $33,144,000 after purchasing an additional 552,719 shares during the period. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price target on ACV Auctions from $22.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday. JMP Securities upped their target price on ACV Auctions from $21.00 to $24.00 and gave the company a "market outperform" rating in a report on Tuesday, September 17th. Raymond James assumed 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. Finally, Barrington Research restated an "outperform" rating and issued a $23.00 price target on shares of ACV Auctions in a research report on Friday, August 16th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.00.

Insider Activity at ACV Auctions

In other news, CFO William Zerella sold 32,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $15.19, for a total value of $493,675.00. Following the completion of the transaction, the chief financial officer now directly owns 503,077 shares in the company, valued at approximately $7,641,739.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Andrew Peer sold 1,795 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $21.00, for a total value of $37,695.00. Following the transaction, the vice president now owns 62,956 shares in the company, valued at approximately $1,322,076. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William Zerella sold 32,500 shares of the company's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $15.19, for a total transaction of $493,675.00. Following the transaction, the chief financial officer now directly owns 503,077 shares of the company's stock, valued at approximately $7,641,739.63. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 741,926 shares of company stock valued at $14,285,765 over the last 90 days. Insiders own 8.50% of the company's stock.

ACV Auctions Trading Down 1.1 %

ACV Auctions stock traded down $0.19 during trading hours on Friday, reaching $17.56. 856,009 shares of the company's stock traded hands, compared to its average volume of 1,197,526. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $21.10. The firm's 50 day moving average is $19.17 and its 200-day moving average is $18.28. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of -36.58 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.49 and a current ratio of 1.49.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.02. The company had revenue of $160.62 million during the quarter, compared to analysts' expectations of $156.33 million. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. On average, analysts predict that ACV Auctions Inc. will post -0.35 earnings per share for the current year.

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.