Barclays PLC increased its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 16.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 244,999 shares of the company's stock after purchasing an additional 35,155 shares during the quarter. Barclays PLC owned approximately 0.15% of ACV Auctions worth $4,980,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in ACVA. William Blair Investment Management LLC raised its stake in shares of ACV Auctions by 4.1% in the second quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company's stock valued at $91,499,000 after acquiring an additional 198,228 shares during the last quarter. Quadrature Capital Ltd acquired a new position in ACV Auctions in the third quarter worth $566,000. Quantbot Technologies LP bought a new stake in shares of ACV Auctions during the third quarter worth $2,035,000. Harbor Capital Advisors Inc. raised its holdings in shares of ACV Auctions by 383.7% in the third quarter. Harbor Capital Advisors Inc. now owns 153,050 shares of the company's stock valued at $3,112,000 after buying an additional 121,411 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in ACV Auctions during the 3rd quarter worth about $2,915,000. 88.55% of the stock is owned by institutional investors.
ACVA has been the subject of several research reports. B. Riley raised their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Citigroup raised their price target on shares of ACV Auctions from $22.00 to $27.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. JMP Securities reaffirmed a "market outperform" rating and set a $25.00 price objective on shares of ACV Auctions in a report on Monday, December 16th. Needham & Company LLC restated a "buy" rating and set a $26.00 target price on shares of ACV Auctions in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group raised their price target on ACV Auctions from $22.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.60.
View Our Latest Stock Analysis on ACV Auctions
ACVA opened at $21.89 on Friday. ACV Auctions Inc. has a twelve month low of $12.84 and a twelve month high of $23.46. The firm has a market cap of $3.67 billion, a PE ratio of -46.57 and a beta of 1.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. The firm's fifty day moving average is $20.32 and its two-hundred day moving average is $19.06.
In other news, CFO William Zerella sold 32,500 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total transaction of $610,675.00. Following the transaction, the chief financial officer now directly owns 490,482 shares in the company, valued at $9,216,156.78. The trade was a 6.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Waterman sold 18,001 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total value of $338,238.79. Following the transaction, the insider now directly owns 337,190 shares in the company, valued at $6,335,800.10. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,099 shares of company stock worth $1,998,394. 8.50% of the stock is owned by insiders.
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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