ACV Auctions Inc. (NASDAQ:ACVA) Shares Purchased by Creative Planning

Creative Planning raised its holdings in ACV Auctions Inc. (NASDAQ:ACVA) by 129.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,935 shares of the company’s stock after purchasing an additional 15,758 shares during the quarter. Creative Planning’s holdings in ACV Auctions were worth $568,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Park Place Capital Corp increased its stake in ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after buying an additional 706 shares during the period. Amalgamated Bank raised its position in ACV Auctions by 18.0% in the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after purchasing an additional 782 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in ACV Auctions during the 2nd quarter worth $225,000. Blair William & Co. IL increased its position in ACV Auctions by 14.7% in the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after acquiring an additional 1,626 shares during the period. Finally, Algert Global LLC purchased a new stake in shares of ACV Auctions during the second quarter worth approximately $271,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

ACV Auctions Trading Up 1.2 %

ACVA opened at $17.25 on Tuesday. The stock has a market capitalization of $2.87 billion, a PE ratio of -35.94 and a beta of 1.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month high of $21.10. The firm’s fifty day moving average price is $19.01 and its 200 day moving average price is $18.28.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. The business had revenue of $160.62 million during the quarter, compared to the consensus estimate of $156.33 million. As a group, research analysts expect that ACV Auctions Inc. will post -0.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACVA. Barrington Research reaffirmed an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a report on Monday. JMP Securities raised their price target on ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 17th. Raymond James assumed coverage on shares of 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. Finally, Jefferies Financial Group increased their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Insider Activity

In related news, COO Vikas Mehta sold 145,928 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $18.71, for a total value of $2,730,312.88. Following the sale, the chief operating officer now directly owns 468,505 shares in the company, valued at $8,765,728.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ACV Auctions news, COO Vikas Mehta sold 145,928 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $18.71, for a total value of $2,730,312.88. Following the sale, the chief operating officer now directly owns 468,505 shares in the company, valued at approximately $8,765,728.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew Peer sold 1,795 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the transaction, the vice president now directly owns 62,956 shares in the company, valued at $1,322,076. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 709,426 shares of company stock valued at $13,792,090. 8.50% of the stock is currently owned by company insiders.

About ACV Auctions

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.