Aigen Investment Management LP Reduces Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Aigen Investment Management LP trimmed its stake in shares of ACV Auctions Inc. (NASDAQ:ACVAFree Report) by 30.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,797 shares of the company’s stock after selling 7,456 shares during the quarter. Aigen Investment Management LP’s holdings in ACV Auctions were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ACVA. Vanguard Group Inc. grew its holdings in shares of ACV Auctions by 8.6% in the third quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company’s stock worth $194,445,000 after purchasing an additional 1,010,941 shares during the last quarter. FMR LLC increased its position in shares of ACV Auctions by 9.4% in the third quarter. FMR LLC now owns 11,763,945 shares of the company’s stock valued at $178,577,000 after acquiring an additional 1,011,236 shares during the period. Atreides Management LP raised its stake in shares of ACV Auctions by 5.8% during the third quarter. Atreides Management LP now owns 10,829,070 shares of the company’s stock valued at $164,385,000 after acquiring an additional 594,347 shares during the last quarter. William Blair Investment Management LLC increased its holdings in ACV Auctions by 8.7% during the 3rd quarter. William Blair Investment Management LLC now owns 4,369,867 shares of the company’s stock valued at $66,335,000 after purchasing an additional 350,865 shares during the period. Finally, Jennison Associates LLC lifted its holdings in ACV Auctions by 9.7% in the 4th quarter. Jennison Associates LLC now owns 3,561,009 shares of the company’s stock worth $53,949,000 after buying an additional 313,856 shares during the period. 88.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barrington Research reissued an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Monday, May 13th. Piper Sandler increased their price target on shares of ACV Auctions from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. JMP Securities lifted their price objective on ACV Auctions from $19.00 to $20.00 and gave the company a “market outperform” rating in a research report on Thursday, May 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Thursday, May 16th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.36.

View Our Latest Report on ACVA

Insider Transactions at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $17.17, for a total value of $558,025.00. Following the completion of the transaction, the chief financial officer now owns 314,151 shares of the company’s stock, valued at approximately $5,393,972.67. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Craig Eric Anderson sold 5,000 shares of ACV Auctions stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $18.00, for a total value of $90,000.00. Following the completion of the sale, the insider now owns 202,797 shares of the company’s stock, valued at $3,650,346. The sale 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 on Tuesday, April 16th. The shares were sold at an average price of $17.17, for a total value of $558,025.00. Following the sale, the chief financial officer now owns 314,151 shares of the company’s stock, valued at approximately $5,393,972.67. The disclosure for this sale can be found here. Insiders sold 1,275,208 shares of company stock worth $23,373,099 over the last quarter. 8.50% of the stock is currently owned by insiders.

ACV Auctions Price Performance

Shares of ACVA opened at $19.09 on Monday. The company has a market capitalization of $3.15 billion, a P/E ratio of -39.77 and a beta of 1.56. ACV Auctions Inc. has a twelve month low of $12.84 and a twelve month high of $19.54. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $18.14 and a 200 day moving average of $16.14.

About ACV Auctions

(Free Report)

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.

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Institutional Ownership by Quarter for ACV Auctions (NASDAQ:ACVA)

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