ACV Auctions Inc. (NASDAQ:ACVA) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lessened its holdings in ACV Auctions Inc. (NASDAQ:ACVA) by 47.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,586,420 shares of the company’s stock after selling 6,045,802 shares during the period. ACV Auctions accounts for approximately 1.7% of ArrowMark Colorado Holdings LLC’s holdings, making the stock its 14th largest holding. ArrowMark Colorado Holdings LLC’s holdings in ACV Auctions were worth $133,902,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACVA. Blue Trust Inc. raised its stake in shares of 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 acquiring an additional 884 shares during the period. MCF Advisors LLC raised its position 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 during the period. Park Place Capital Corp lifted its stake in ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after purchasing an additional 706 shares in the last quarter. Amalgamated Bank lifted its stake in 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 acquired a new position in ACV Auctions in the 3rd quarter valued at about $206,000. 88.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on ACVA. Piper Sandler lifted their price objective on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Raymond James initiated coverage on ACV Auctions in a report on Friday, September 27th. They issued a “market perform” rating and a $22.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $26.00 target price on shares of ACV Auctions in a research note on Tuesday, November 26th. Jefferies Financial Group lifted their price objective 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. Finally, Barrington Research reaffirmed an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, ACV Auctions currently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

ACV Auctions Price Performance

Shares of NASDAQ:ACVA opened at $22.62 on Monday. 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 50-day moving average price of $19.72 and a 200 day moving average price of $18.73. The company has a market cap of $3.79 billion, a P/E ratio of -48.13 and a beta of 1.59. ACV Auctions Inc. has a 52 week low of $12.84 and a 52 week high of $23.46.

Insider Buying and Selling at ACV Auctions

In related news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $22.41, for a total value of $728,325.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at $10,991,701.62. This trade represents a 6.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Andrew Peer sold 1,795 shares of the business’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 sale, the vice president now owns 62,956 shares in the company, valued at approximately $1,322,076. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 525,937 shares of company stock valued at $10,479,997. 8.50% of the stock is 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.