Iridian Asset Management LLC CT Has $21.59 Million Stock Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Iridian Asset Management LLC CT decreased its stake in ACV Auctions Inc. (NASDAQ:ACVA) by 11.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,062,081 shares of the company’s stock after selling 139,486 shares during the period. ACV Auctions accounts for about 4.6% of Iridian Asset Management LLC CT’s holdings, making the stock its 4th biggest position. Iridian Asset Management LLC CT’s holdings in ACV Auctions were worth $21,592,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of ACV Auctions by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after buying an additional 884 shares during the last quarter. MCF Advisors LLC raised its stake in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after acquiring an additional 765 shares during the period. Park Place Capital Corp raised its stake in ACV Auctions by 34.1% in the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after acquiring an additional 706 shares during the period. Amalgamated Bank lifted its holdings in ACV Auctions by 18.0% during the second 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. Finally, Public Employees Retirement Association of Colorado bought a new position in ACV Auctions during the second quarter worth about $225,000. Institutional investors own 88.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ACVA shares. Barrington Research reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a report on Friday, August 16th. Raymond James started coverage on ACV Auctions in a report on Friday, September 27th. They issued a “market perform” rating and a $22.00 price target for the company. JMP Securities boosted their price objective on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group raised their target price on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ACV Auctions currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Insider Transactions at ACV Auctions

In other news, 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 sale, the vice president now owns 62,956 shares of the company’s stock, valued at approximately $1,322,076. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ACV Auctions news, COO Vikas Mehta sold 154,324 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $19.19, for a total value of $2,961,477.56. Following the completion of the sale, the chief operating officer now owns 432,457 shares in the company, valued at approximately $8,298,849.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Andrew Peer sold 1,795 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total transaction of $37,695.00. Following the completion of the transaction, the vice president now 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. In the last ninety days, insiders sold 741,926 shares of company stock worth $14,285,765. 8.50% of the stock is currently owned by insiders.

ACV Auctions Stock Down 0.6 %

ACVA opened at $17.71 on Thursday. The business’s fifty day simple moving average is $19.11 and its 200 day simple moving average is $18.27. ACV Auctions Inc. has a 52 week low of $12.84 and a 52 week high of $21.10. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.95 billion, a PE ratio of -36.90 and a beta of 1.56.

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

ACV Auctions Company 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.