Procyon Advisors LLC purchased a new stake in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,727 shares of the company's stock, valued at approximately $361,000.
Several other large investors have also recently modified their holdings of ACVA. Moody National Bank Trust Division raised its holdings in ACV Auctions by 64.6% in the 4th quarter. Moody National Bank Trust Division now owns 79,199 shares of the company's stock worth $1,711,000 after acquiring an additional 31,094 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of ACV Auctions in the 3rd quarter worth $566,000. JPMorgan Chase & Co. raised its stake 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 purchasing an additional 311,465 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of ACV Auctions during the third quarter valued at $2,035,000. Finally, State Street Corp boosted 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 valued at $65,918,000 after buying an additional 115,700 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company's stock.
Insider Activity at ACV Auctions
In related news, CFO William Zerella sold 32,500 shares of ACV Auctions 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 owns 490,482 shares in the company, valued at approximately $10,991,701.62. The trade was a 6.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Waterman sold 30,162 shares of the firm's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total value of $619,225.86. Following the sale, the insider now directly owns 314,738 shares in the company, valued at approximately $6,461,571.14. This represents a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,162 shares of company stock worth $2,359,726. Corporate insiders own 8.50% of the company's stock.
ACV Auctions Stock Performance
Shares of ACV Auctions stock traded up $0.16 on Monday, hitting $21.53. 1,157,551 shares of the company's stock were exchanged, compared to its average volume of 1,104,952. ACV Auctions Inc. has a 1 year low of $12.84 and a 1 year high of $23.46. The company has a 50-day simple moving average of $21.51 and a 200-day simple moving average of $19.55. 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 stock has a market capitalization of $3.61 billion, a PE ratio of -45.81 and a beta of 1.69.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Citigroup boosted their target price on ACV Auctions from $22.00 to $27.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Piper Sandler boosted their price objective 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. Needham & Company LLC restated a "buy" rating and issued a $28.00 target price (up previously from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. Jefferies Financial Group lifted their target price on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Finally, Raymond James started coverage on ACV Auctions in a report on Friday, September 27th. They set a "market perform" rating and a $22.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, ACV Auctions presently has a consensus rating of "Moderate Buy" and an average target price of $24.00.
Get Our Latest Report on ACVA
ACV Auctions Company Profile
(
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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