Swiss National Bank Has $5.87 Million Position in ACV Auctions Inc. (NASDAQ:ACVA)

Swiss National Bank lowered its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,800 shares of the company’s stock after selling 1,400 shares during the quarter. Swiss National Bank owned 0.17% of ACV Auctions worth $5,871,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. RiverPark Advisors LLC acquired a new position in shares of ACV Auctions during the 3rd quarter worth approximately $301,000. Oppenheimer Asset Management Inc. increased its position in shares of ACV Auctions by 43.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 199,972 shares of the company’s stock worth $4,065,000 after purchasing an additional 60,991 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of ACV Auctions during the 3rd quarter worth approximately $287,000. GSA Capital Partners LLP acquired a new position in shares of ACV Auctions during the 3rd quarter worth approximately $562,000. Finally, Los Angeles Capital Management LLC increased its position in shares of ACV Auctions by 6.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 26,958 shares of the company’s stock worth $548,000 after purchasing an additional 1,670 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

Insider Transactions at ACV Auctions

In other news, insider Michael Waterman sold 18,001 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $338,238.79. Following the completion of the transaction, the insider now owns 337,190 shares of the company’s stock, valued at approximately $6,335,800.10. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction dated 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 approximately $10,991,701.62. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 525,937 shares of company stock valued at $10,479,997. Corporate insiders own 8.50% of the company’s stock.

ACV Auctions Price Performance

Shares of NASDAQ ACVA opened at $22.71 on Thursday. The stock has a market capitalization of $3.81 billion, a PE ratio of -48.32 and a beta of 1.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. The business has a fifty day moving average price of $19.60 and a two-hundred day moving average price of $18.63. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $23.46.

Analysts Set New Price Targets

Several research analysts have recently commented on ACVA shares. Citigroup lifted their target price on ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday. B. Riley lifted their target price on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday. Jefferies Financial Group lifted their target price on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. JMP Securities lifted their target price on ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $26.00 target price on shares of ACV Auctions in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.50.

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.