TimesSquare Capital Management LLC Has $36.05 Million Stock Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

TimesSquare Capital Management LLC raised its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 2.6% during the third quarter, Holdings Channel reports. The firm owned 1,773,206 shares of the company’s stock after buying an additional 45,004 shares during the period. TimesSquare Capital Management LLC’s holdings in ACV Auctions were worth $36,049,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Park Place Capital Corp boosted 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 buying an additional 706 shares in the last quarter. MCF Advisors LLC lifted its holdings in shares of ACV Auctions by 107.0% during the third 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. Amalgamated Bank boosted its stake in shares of ACV Auctions by 18.0% in the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after purchasing an additional 782 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of ACV Auctions by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after purchasing an additional 884 shares during the last quarter. Finally, Blair William & Co. IL increased its position in shares of ACV Auctions by 14.7% during the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock worth $238,000 after purchasing an additional 1,626 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ACVA has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their target price on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Piper Sandler boosted their price objective on ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday. Barrington Research restated an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a research note on Monday, November 4th. Needham & Company LLC lifted their price target on ACV Auctions from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday. Finally, JMP Securities increased their price objective on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.63.

Insider Activity at ACV Auctions

In related news, COO Vikas Mehta sold 145,928 shares of ACV Auctions stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $18.71, for a total transaction of $2,730,312.88. Following the completion of the sale, the chief operating officer now directly owns 468,505 shares of the company’s stock, valued at approximately $8,765,728.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Andrew Peer sold 1,795 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the transaction, the vice president now owns 62,956 shares in the company, valued at approximately $1,322,076. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Vikas Mehta sold 145,928 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $18.71, for a total transaction of $2,730,312.88. Following the completion of the transaction, the chief operating officer now directly owns 468,505 shares in the company, valued at approximately $8,765,728.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 709,426 shares of company stock worth $13,792,090. Insiders own 8.50% of the company’s stock.

ACV Auctions Trading Up 3.2 %

NASDAQ ACVA opened at $20.13 on Friday. The company has a market cap of $3.35 billion, a PE ratio of -41.94 and a beta of 1.59. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $21.22. The stock has a 50 day moving average of $19.06 and a 200-day moving average of $18.31. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. The firm had revenue of $160.62 million for the quarter, compared to the consensus estimate of $156.33 million. On average, equities research analysts anticipate that ACV Auctions Inc. will post -0.35 EPS 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.