Quantbot Technologies LP Makes New Investment in ACV Auctions Inc. (NASDAQ:ACVA)

Quantbot Technologies LP bought a new stake in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 100,098 shares of the company's stock, valued at approximately $2,035,000. Quantbot Technologies LP owned approximately 0.06% of ACV Auctions as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ACVA. Comerica Bank lifted its holdings in ACV Auctions by 5,045.7% in the first quarter. Comerica Bank now owns 63,550 shares of the company's stock worth $1,193,000 after acquiring an additional 62,315 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of 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 in the last quarter. Swedbank AB acquired a new position in shares of ACV Auctions during the 1st quarter valued at $15,016,000. Harbor Capital Advisors Inc. raised its holdings in shares of ACV Auctions by 383.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 153,050 shares of the company's stock worth $3,112,000 after purchasing an additional 121,411 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in shares of ACV Auctions during the 3rd quarter worth $2,915,000. 88.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ACVA shares. Citigroup increased their price objective on ACV Auctions from $22.00 to $27.00 and gave the stock a "buy" rating in a research note on Wednesday. Barrington Research restated an "outperform" rating and set a $23.00 price target on shares of ACV Auctions in a report on Monday, November 4th. Needham & Company LLC reiterated a "buy" rating and issued a $26.00 price objective on shares of ACV Auctions in a research note on Tuesday. Raymond James initiated coverage on shares of ACV Auctions in a research note on Friday, September 27th. They set a "market perform" rating and a $22.00 target price for the company. Finally, JMP Securities upped their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a "market outperform" rating in a research note on Tuesday, September 17th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.50.

Insider Activity at ACV Auctions

In related news, insider Michael Waterman sold 18,001 shares of ACV Auctions stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total value of $338,238.79. Following the completion of the transaction, the insider now directly owns 337,190 shares of the company's stock, valued at $6,335,800.10. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO William Zerella sold 32,500 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $610,675.00. Following the completion of the transaction, the chief financial officer now owns 490,482 shares of the company's stock, valued at $9,216,156.78. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 525,937 shares of company stock worth $10,479,997. 8.50% of the stock is owned by corporate insiders.

ACV Auctions Trading Down 0.4 %

NASDAQ ACVA traded down $0.09 during trading on Friday, hitting $22.62. The company's stock had a trading volume of 569,768 shares, compared to its average volume of 1,263,299. The firm has a 50 day moving average price of $19.65 and a 200 day moving average price of $18.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. ACV Auctions Inc. has a 52 week low of $12.84 and a 52 week high of $23.46.

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.