ACV Auctions Inc. $ACVA Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its position in ACV Auctions Inc. (NASDAQ:ACVA) by 9.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,301 shares of the company’s stock after acquiring an additional 2,407 shares during the period. Russell Investments Group Ltd.’s holdings in ACV Auctions were worth $399,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc raised its position in shares of ACV Auctions by 464.4% in the first quarter. Versant Capital Management Inc now owns 2,201 shares of the company’s stock worth $31,000 after acquiring an additional 1,811 shares during the period. GAMMA Investing LLC raised its position in shares of ACV Auctions by 3,005.8% in the first quarter. GAMMA Investing LLC now owns 5,932 shares of the company’s stock worth $84,000 after acquiring an additional 5,741 shares during the period. Integrated Advisors Network LLC acquired a new position in shares of ACV Auctions in the fourth quarter worth about $200,000. Mackenzie Financial Corp acquired a new position in shares of ACV Auctions in the fourth quarter worth about $206,000. Finally, Bessemer Group Inc. raised its position in shares of ACV Auctions by 14.5% in the first quarter. Bessemer Group Inc. now owns 9,911 shares of the company’s stock worth $140,000 after acquiring an additional 1,257 shares during the period. Institutional investors and hedge funds own 88.55% of the company’s stock.

Insider Activity

In related news, insider Craig Eric Anderson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total transaction of $225,600.00. Following the completion of the sale, the insider owned 340,799 shares of the company’s stock, valued at approximately $5,125,616.96. This represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Waterman sold 34,339 shares of the company’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $16.05, for a total transaction of $551,140.95. Following the sale, the insider directly owned 379,957 shares of the company’s stock, valued at approximately $6,098,309.85. This represents a 8.29% decrease in their position. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ACVA shares. Needham & Company LLC decreased their price objective on shares of ACV Auctions from $25.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Bank of America cut their target price on shares of ACV Auctions from $20.00 to $16.50 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Citigroup cut their target price on shares of ACV Auctions from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. JPMorgan Chase & Co. cut their target price on shares of ACV Auctions from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, July 17th. Finally, Stephens cut their target price on shares of ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, August 12th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.67.

ACV Auctions Stock Down 0.3%

Shares of NASDAQ ACVA opened at $11.65 on Monday. ACV Auctions Inc. has a 12-month low of $10.26 and a 12-month high of $23.46. The stock has a market cap of $2.01 billion, a PE ratio of -23.78 and a beta of 1.69. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $14.23 and a 200 day moving average of $15.14.

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.