ACV Auctions Inc. (NASDAQ:ACVA) Shares Sold by US Bancorp DE

US Bancorp DE lessened its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 27.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,262 shares of the company’s stock after selling 5,800 shares during the period. US Bancorp DE’s holdings in ACV Auctions were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of ACVA. Blue Trust Inc. raised 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 valued at $29,000 after buying an additional 884 shares during the period. MCF Advisors LLC boosted its holdings in ACV Auctions by 107.0% in the third 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 holdings in ACV Auctions by 34.1% in the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after purchasing an additional 706 shares in the last quarter. Amalgamated Bank boosted its holdings in ACV Auctions by 18.0% in the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after purchasing an additional 782 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in ACV Auctions in the second quarter valued at approximately $225,000. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ACVA. Jefferies Financial Group boosted their price objective on ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Barrington Research reissued an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a report on Monday, November 4th. Needham & Company LLC increased their price objective on ACV Auctions from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Piper Sandler raised their price target on ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, JMP Securities raised their price objective on ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 17th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.63.

Insider Activity

In other news, VP Andrew Peer sold 1,795 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the sale, the vice president now owns 62,956 shares in the company, valued at $1,322,076. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP Andrew Peer sold 1,795 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was 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 of the company’s stock, valued at $1,322,076. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Craig Eric Anderson sold 7,500 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total value of $150,000.00. Following the sale, the insider now directly owns 328,167 shares of the company’s stock, valued at approximately $6,563,340. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 709,426 shares of company stock worth $13,792,090 over the last 90 days. 8.50% of the stock is currently owned by company insiders.

ACV Auctions Trading Down 1.9 %

NASDAQ:ACVA opened at $20.70 on Wednesday. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month high of $21.31. The firm has a market capitalization of $3.45 billion, a P/E ratio of -44.04 and a beta of 1.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49. The business has a 50 day simple moving average of $19.11 and a 200 day simple moving average of $18.34.

ACV Auctions 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.