1,779,846 Shares in ACV Auctions Inc. $ACVA Acquired by Nuveen LLC

Nuveen LLC bought a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,779,846 shares of the company's stock, valued at approximately $25,078,000. Nuveen LLC owned about 1.05% of ACV Auctions as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc grew its stake in shares of ACV Auctions by 464.4% during the first quarter. Versant Capital Management Inc now owns 2,201 shares of the company's stock worth $31,000 after purchasing an additional 1,811 shares during the period. GAMMA Investing LLC grew its stake in shares of ACV Auctions by 3,005.8% during the first 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 period. Bessemer Group Inc. grew its stake in shares of ACV Auctions by 14.5% during the first 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 period. Integrated Advisors Network LLC acquired a new stake in shares of ACV Auctions during the fourth quarter worth $200,000. Finally, Mackenzie Financial Corp grew its stake in shares of ACV Auctions by 48.7% during the first quarter. Mackenzie Financial Corp now owns 14,203 shares of the company's stock worth $200,000 after purchasing an additional 4,652 shares during the period. 88.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ACV Auctions

In other news, insider Craig Eric Anderson sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $15.04, for a total value of $225,600.00. Following the transaction, the insider owned 340,799 shares of the company's stock, valued at approximately $5,125,616.96. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Waterman sold 34,339 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $16.05, for a total value of $551,140.95. Following the completion of the transaction, the insider directly owned 379,957 shares in the company, valued at $6,098,309.85. The trade was a 8.29% decrease in their position. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

ACV Auctions Stock Performance

NASDAQ:ACVA traded up $0.0750 on Thursday, hitting $11.4550. The company's stock had a trading volume of 912,850 shares, compared to its average volume of 2,119,788. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average of $14.78 and a two-hundred day moving average of $15.69. The firm has a market capitalization of $1.96 billion, a P/E ratio of -23.40 and a beta of 1.69. ACV Auctions Inc. has a one year low of $10.26 and a one year high of $23.46.

Wall Street Analysts Forecast Growth

ACVA has been the topic of a number of research reports. Bank of America cut their price target on ACV Auctions from $20.00 to $16.50 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Citigroup dropped their target price on ACV Auctions from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Stephens dropped their target price on ACV Auctions from $16.00 to $11.50 and set an "equal weight" rating on the stock in a report on Tuesday, August 12th. Needham & Company LLC dropped their target price on ACV Auctions from $25.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. dropped their target price on ACV Auctions from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.67.

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.