XTX Topco Ltd Invests $651,000 in ACV Auctions Inc. (NASDAQ:ACVA)

XTX Topco Ltd purchased a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 32,041 shares of the company's stock, valued at approximately $651,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ACVA. Blue Trust Inc. grew its holdings in ACV Auctions by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company's stock worth $29,000 after buying an additional 884 shares in the last quarter. MCF Advisors LLC boosted its stake in ACV Auctions by 107.0% during the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company's stock valued at $30,000 after purchasing an additional 765 shares in the last quarter. Park Place Capital Corp boosted its stake in shares of ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company's stock worth $56,000 after acquiring an additional 706 shares in the last quarter. Amalgamated Bank boosted its stake in shares of ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company's stock worth $93,000 after acquiring an additional 782 shares in the last quarter. Finally, Verdence Capital Advisors LLC bought a new stake in shares of ACV Auctions during the 3rd quarter worth $206,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barrington Research restated an "outperform" rating and issued a $23.00 target price on shares of ACV Auctions in a report on Monday, November 4th. Jefferies Financial Group increased 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. B. Riley increased their target price 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. JMP Securities raised their price target on ACV Auctions from $21.00 to $24.00 and gave the company a "market outperform" rating in a research report on Tuesday, September 17th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $26.00 price target on shares of ACV Auctions in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, ACV Auctions currently has a consensus rating of "Moderate Buy" and an average price target of $23.50.

ACV Auctions Trading Down 3.1 %

NASDAQ:ACVA traded down $0.64 during trading hours on Friday, hitting $20.30. 952,229 shares of the stock were exchanged, compared to its average volume of 1,258,440. The company's 50 day moving average is $20.06 and its two-hundred day moving average is $18.95. ACV Auctions Inc. has a twelve month low of $12.84 and a twelve month high of $23.46. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $3.40 billion, a P/E ratio of -43.19 and a beta of 1.70.

Insiders Place Their Bets

In related news, CEO George Chamoun sold 111,363 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $20.27, for a total value of $2,257,328.01. Following the completion of the sale, the chief executive officer now owns 928,166 shares in the company, valued at $18,813,924.82. This represents a 10.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew Peer sold 1,795 shares of the stock in a transaction dated Thursday, September 19th. The stock was 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 of the company's stock, valued at approximately $1,322,076. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 364,113 shares of company stock valued at $7,368,519. 8.50% of the stock is currently owned by corporate insiders.

About ACV Auctions

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.