New York State Common Retirement Fund Has $2.57 Million Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

New York State Common Retirement Fund lessened its stake in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 75.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,054 shares of the company's stock after selling 571,242 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of ACV Auctions worth $2,565,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of ACV Auctions by 464.4% during the 1st quarter. Versant Capital Management Inc now owns 2,201 shares of the company's stock worth $31,000 after acquiring an additional 1,811 shares during the period. GAMMA Investing LLC lifted its holdings in ACV Auctions by 3,005.8% during the 1st quarter. GAMMA Investing LLC now owns 5,932 shares of the company's stock worth $84,000 after purchasing an additional 5,741 shares during the last quarter. Bessemer Group Inc. lifted its holdings in ACV Auctions by 14.5% during the 1st quarter. Bessemer Group Inc. now owns 9,911 shares of the company's stock worth $140,000 after purchasing an additional 1,257 shares during the last quarter. Integrated Advisors Network LLC acquired a new stake in ACV Auctions during the 4th quarter worth approximately $200,000. Finally, Mackenzie Financial Corp acquired a new stake in ACV Auctions during the 4th quarter worth approximately $206,000. Institutional investors and hedge funds own 88.55% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on ACV Auctions from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. Citigroup decreased their price target on ACV Auctions from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Monday, July 7th. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 price target on shares of ACV Auctions in a research note on Thursday, May 8th. Finally, JMP Securities lifted their price target on ACV Auctions from $18.00 to $20.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.05.

Insiders Place Their Bets

In other news, insider Michael Waterman sold 223,330 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $17.00, for a total transaction of $3,796,610.00. Following the completion of the transaction, the insider owned 466,548 shares in the company, valued at approximately $7,931,316. This represents a 32.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by insiders.

ACV Auctions Price Performance

Shares of NASDAQ ACVA opened at $15.09 on Wednesday. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -30.80 and a beta of 1.71. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. ACV Auctions Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $23.46. The firm's 50-day simple moving average is $16.28 and its 200 day simple moving average is $16.88.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.13). ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. During the same quarter in the prior year, the business posted ($0.13) earnings per share. The business's quarterly revenue was up 25.4% compared to the same quarter last year. As a group, research analysts anticipate that ACV Auctions Inc. will post -0.07 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.

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