Walleye Capital LLC Purchases 196,321 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Walleye Capital LLC lifted its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 25.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 973,538 shares of the company's stock after acquiring an additional 196,321 shares during the period. Walleye Capital LLC owned approximately 0.58% of ACV Auctions worth $19,792,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in ACV Auctions by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 77,547 shares of the company's stock worth $1,456,000 after acquiring an additional 4,621 shares during the last quarter. Comerica Bank raised its stake in shares of ACV Auctions by 5,045.7% during the first quarter. Comerica Bank now owns 63,550 shares of the company's stock valued at $1,193,000 after acquiring an additional 62,315 shares during the last quarter. Swedbank AB acquired a new position in shares of ACV Auctions during the first quarter worth $15,016,000. Harbor Capital Advisors Inc. bought a new stake in shares of ACV Auctions in the second quarter worth $577,000. Finally, Two Star Manager LLC acquired a new stake in ACV Auctions during the 2nd quarter valued at approximately $2,069,000. 88.55% of the stock is owned by institutional investors.

ACV Auctions Stock Performance

Shares of ACVA traded down $0.09 during mid-day trading on Friday, hitting $22.62. The stock had a trading volume of 569,725 shares, compared to its average volume of 1,263,298. The business has a fifty day moving average price of $19.65 and a 200-day moving average price of $18.66. ACV Auctions Inc. has a 52 week low of $12.84 and a 52 week high of $23.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51.

Analyst Upgrades and Downgrades

ACVA has been the topic of a number of research reports. Citigroup boosted their target price on shares of ACV Auctions from $22.00 to $27.00 and gave the company a "buy" rating in a research report on Wednesday. B. Riley raised their price target on shares of ACV Auctions from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Tuesday. Piper Sandler increased their price objective on ACV Auctions from $16.00 to $18.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Raymond James initiated coverage on ACV Auctions in a research report on Friday, September 27th. They issued a "market perform" rating and a $22.00 price target for the company. Finally, JMP Securities increased their target price on shares of ACV Auctions from $21.00 to $24.00 and gave the company a "market outperform" rating in a report on Tuesday, September 17th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.50.

Insiders Place Their Bets

In other ACV Auctions news, VP Andrew Peer sold 1,795 shares of ACV Auctions stock in a transaction that occurred on 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 directly owns 62,956 shares in the company, valued at $1,322,076. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William Zerella sold 32,500 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total value of $610,675.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares in the company, valued at approximately $9,216,156.78. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 525,937 shares of company stock worth $10,479,997 over the last quarter. 8.50% of the stock is currently owned by company insiders.

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.