GSA Capital Partners LLP Takes $562,000 Position in ACV Auctions Inc. (NASDAQ:ACVA)

GSA Capital Partners LLP acquired a new position in ACV Auctions Inc. (NASDAQ:ACVA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,644 shares of the company’s stock, valued at approximately $562,000.

A number of other large investors have also recently bought and sold shares of ACVA. Massachusetts Financial Services Co. MA boosted its holdings in ACV Auctions by 47.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,758,163 shares of the company’s stock worth $141,586,000 after purchasing an additional 2,502,064 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in ACV Auctions by 217.5% during the second quarter. Bank of New York Mellon Corp now owns 1,391,070 shares of the company’s stock valued at $25,387,000 after acquiring an additional 952,929 shares during the period. Swedbank AB bought a new stake in ACV Auctions during the first quarter valued at about $15,016,000. Allspring Global Investments Holdings LLC bought a new stake in ACV Auctions during the second quarter valued at about $8,567,000. Finally, Driehaus Capital Management LLC boosted its holdings in ACV Auctions by 48.0% during the second quarter. Driehaus Capital Management LLC now owns 1,232,238 shares of the company’s stock valued at $22,488,000 after acquiring an additional 399,402 shares during the period. 88.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Raymond James assumed coverage on shares of ACV Auctions in a report on Friday, September 27th. They set a “market perform” rating and a $22.00 price target for the company. Piper Sandler upped their price target on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Barrington Research restated an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a report on Monday, November 4th. Needham & Company LLC increased their target price on shares of ACV Auctions from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group increased their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.63.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total value of $610,675.00. Following the sale, the chief financial officer now directly owns 490,482 shares in the company, valued at approximately $9,216,156.78. The trade was a 6.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Chamoun sold 111,363 shares of ACV Auctions stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $20.27, for a total transaction of $2,257,328.01. Following the completion of the sale, the chief executive officer now owns 928,166 shares in the company, valued at $18,813,924.82. The trade was a 10.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 709,426 shares of company stock valued at $13,792,090. 8.50% of the stock is currently owned by insiders.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $21.46 on Wednesday. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $22.23. The firm has a market cap of $3.60 billion, a P/E ratio of -45.66 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 firm has a 50 day simple moving average of $19.39 and a 200 day simple moving average of $18.48.

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.