Janus Henderson Group PLC Buys 3,961 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Janus Henderson Group PLC increased its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,505 shares of the company’s stock after acquiring an additional 3,961 shares during the quarter. Janus Henderson Group PLC’s holdings in ACV Auctions were worth $1,290,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of ACV Auctions by 165.2% during the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after purchasing an additional 884 shares during the period. MCF Advisors LLC raised its stake in ACV Auctions by 107.0% during the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after buying an additional 765 shares during the period. Park Place Capital Corp boosted its holdings in ACV Auctions by 34.1% in the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after acquiring an additional 706 shares in the last quarter. Amalgamated Bank boosted its holdings in ACV Auctions by 18.0% in the second 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 stake in ACV Auctions in the third quarter valued at approximately $206,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

ACV Auctions Trading Down 3.1 %

NASDAQ:ACVA opened at $20.30 on Friday. ACV Auctions Inc. has a 52 week low of $12.84 and a 52 week high of $23.46. The firm has a 50-day moving average price of $20.08 and a two-hundred day moving average price of $18.95. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -43.19 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.

Insider Activity at ACV Auctions

In related news, VP Andrew Peer sold 1,795 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $21.00, for a total transaction of $37,695.00. Following the completion of the sale, the vice president now owns 62,956 shares in the company, valued at approximately $1,322,076. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total transaction of $728,325.00. Following the completion of the transaction, the chief financial officer now owns 490,482 shares in the company, valued at approximately $10,991,701.62. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 364,113 shares of company stock valued at $7,368,519. 8.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ACVA. JMP Securities increased their target price on ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 17th. Jefferies Financial Group raised their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Citigroup lifted their price objective 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. Needham & Company LLC restated a “buy” rating and issued a $26.00 target price on shares of ACV Auctions in a report on Tuesday, November 26th. Finally, Barrington Research reissued an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.