Harbor Capital Advisors Inc. boosted its holdings in ACV Auctions Inc. (NASDAQ:ACVA – Free Report) by 4.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 159,699 shares of the company’s stock after purchasing an additional 6,649 shares during the period. Harbor Capital Advisors Inc.’s holdings in ACV Auctions were worth $3,449,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its stake in shares of ACV Auctions by 11.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company’s stock worth $175,969,000 after acquiring an additional 897,477 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in ACV Auctions by 4.1% in the 2nd quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock valued at $91,499,000 after purchasing an additional 198,228 shares during the period. Jennison Associates LLC grew its position in ACV Auctions by 6.8% in the 3rd quarter. Jennison Associates LLC now owns 4,247,932 shares of the company’s stock worth $86,360,000 after purchasing an additional 271,970 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ACV Auctions by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,517,088 shares of the company’s stock worth $71,516,000 after purchasing an additional 67,969 shares during the period. Finally, State Street Corp raised its position in shares of ACV Auctions by 3.7% during the third quarter. State Street Corp now owns 3,242,388 shares of the company’s stock valued at $65,918,000 after buying an additional 115,700 shares during the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.
ACV Auctions Trading Down 1.8 %
Shares of ACVA stock opened at $20.75 on Friday. The company has a market capitalization of $3.48 billion, a P/E ratio of -44.15 and a beta of 1.69. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-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 firm has a 50-day moving average price of $21.26 and a 200 day moving average price of $19.42.
Insider Activity
Analyst Ratings Changes
A number of research firms recently weighed in on ACVA. Raymond James began coverage on ACV Auctions in a research report on Friday, September 27th. They set a “market perform” rating and a $22.00 target price on the stock. Piper Sandler boosted their price objective on ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price (up from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. Jefferies Financial Group boosted their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, B. Riley raised their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.00.
Check Out Our Latest Stock Report on ACV Auctions
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.
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