ACV Auctions Inc. (NASDAQ:ACVA) Shares Acquired by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT increased its position in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,106,154 shares of the company’s stock after acquiring an additional 44,073 shares during the period. ACV Auctions makes up about 6.4% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 3rd largest position. Iridian Asset Management LLC CT owned approximately 0.66% of ACV Auctions worth $23,893,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ACVA. Blue Trust Inc. boosted its holdings in shares of ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after buying an additional 884 shares during the period. MCF Advisors LLC lifted its position in shares of ACV Auctions by 107.0% in the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after purchasing an additional 765 shares in the last quarter. Park Place Capital Corp grew its position in ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after purchasing an additional 706 shares in the last quarter. KBC Group NV increased its stake in ACV Auctions by 80.4% in the 4th quarter. KBC Group NV now owns 7,406 shares of the company’s stock valued at $160,000 after buying an additional 3,300 shares during the period. Finally, Verdence Capital Advisors LLC purchased a new stake in ACV Auctions in the 3rd quarter worth approximately $206,000. Institutional investors own 88.55% of the company’s stock.

Insider Activity at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of ACV Auctions 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Waterman sold 30,162 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total value of $619,225.86. Following the sale, the insider now owns 314,738 shares in the company, valued at $6,461,571.14. The trade was a 8.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,162 shares of company stock valued at $2,663,776 in the last ninety days. Insiders own 8.50% of the company’s stock.

ACV Auctions Stock Performance

ACV Auctions stock opened at $20.97 on Friday. The business has a 50 day simple moving average of $21.44 and a 200 day simple moving average of $19.86. ACV Auctions Inc. has a one year low of $13.52 and a one year high of $23.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ACVA. Citigroup boosted their price target 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. Stephens raised ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Piper Sandler increased their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target (up previously from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. Finally, Jefferies Financial Group upped 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, ACV Auctions has an average rating of “Moderate Buy” and an average price target of $23.65.

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.