Arvin Capital Management LP Purchases 9,508 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Arvin Capital Management LP grew its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 2.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 407,261 shares of the company’s stock after buying an additional 9,508 shares during the quarter. ACV Auctions accounts for about 2.7% of Arvin Capital Management LP’s investment portfolio, making the stock its 15th biggest position. Arvin Capital Management LP owned 0.24% of ACV Auctions worth $8,280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its holdings in ACV Auctions by 11.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company’s stock worth $175,969,000 after purchasing an additional 897,477 shares during the period. William Blair Investment Management LLC grew its holdings in ACV Auctions by 4.1% during the 2nd quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock worth $91,499,000 after acquiring an additional 198,228 shares in the last quarter. Jennison Associates LLC increased its position in ACV Auctions by 6.8% during the 3rd quarter. Jennison Associates LLC now owns 4,247,932 shares of the company’s stock valued at $86,360,000 after purchasing an additional 271,970 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of ACV Auctions by 10.4% during the third quarter. Loomis Sayles & Co. L P now owns 2,735,055 shares of the company’s stock valued at $55,603,000 after purchasing an additional 258,104 shares in the last quarter. Finally, Spyglass Capital Management LLC increased its holdings in shares of ACV Auctions by 69.1% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,614,245 shares of the company’s stock valued at $53,148,000 after acquiring an additional 1,068,356 shares during the period. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup raised their price objective on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Piper Sandler raised their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. B. Riley raised their price objective on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Raymond James started 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, Needham & Company LLC reissued a “buy” rating and issued a $26.00 target price on shares of ACV Auctions in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

ACV Auctions Trading Down 0.4 %

Shares of NASDAQ:ACVA opened at $22.62 on Monday. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of -48.13 and a beta of 1.59. The business’s 50 day moving average price is $19.72 and its 200-day moving average price is $18.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. ACV Auctions Inc. has a 1 year low of $12.84 and a 1 year high of $23.46.

Insider Buying and Selling

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $22.41, for a total value of $728,325.00. Following the transaction, the chief financial officer now owns 490,482 shares in the company, valued at approximately $10,991,701.62. This trade represents a 6.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Andrew Peer sold 1,795 shares of the 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 of the company’s stock, valued at approximately $1,322,076. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 525,937 shares of company stock worth $10,479,997 in the last 90 days. Insiders own 8.50% of the company’s stock.

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.