77,863 Shares in ACV Auctions Inc. (NASDAQ:ACVA) Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky acquired a new stake in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 77,863 shares of the company's stock, valued at approximately $1,097,000.

A number of other hedge funds also recently made changes to their positions in ACVA. Versant Capital Management Inc grew its position 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 buying an additional 1,811 shares in the last quarter. GAMMA Investing LLC grew its position 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 buying an additional 5,741 shares in the last quarter. Bessemer Group Inc. boosted its holdings in ACV Auctions by 14.5% in 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 position in ACV Auctions in the fourth quarter worth $200,000. Finally, Mackenzie Financial Corp acquired a new position in ACV Auctions in the fourth quarter worth $206,000. Hedge funds and other institutional investors own 88.55% of the company's stock.

Insider Activity

In related news, insider Michael Waterman sold 223,330 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $17.00, for a total value of $3,796,610.00. Following the completion of the sale, the insider owned 466,548 shares of the company's stock, valued at approximately $7,931,316. The trade was a 32.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Craig Eric Anderson sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total value of $225,600.00. Following the completion of the sale, the insider directly owned 340,799 shares of the company's stock, valued at approximately $5,125,616.96. The trade was a 4.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 272,669 shares of company stock worth $4,573,351. Company insiders own 2.90% of the company's stock.

ACV Auctions Trading Down 0.7%

ACVA traded down $0.11 during trading on Friday, reaching $14.53. The company had a trading volume of 1,519,141 shares, compared to its average volume of 2,015,301. The firm's 50-day simple moving average is $16.07 and its 200 day simple moving average is $16.73. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -29.64 and a beta of 1.71. ACV Auctions Inc. has a 12-month low of $11.88 and a 12-month high of $23.46. 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 (NASDAQ:ACVA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates 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%. The business's revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.13) earnings per share. Equities research analysts anticipate that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

Analysts Set New Price Targets

ACVA has been the subject of a number of research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $25.00 price objective on shares of ACV Auctions in a report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on shares of 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 objective on shares of ACV Auctions from $22.00 to $21.00 and set a "buy" rating for the company in a report on Monday, July 7th. Finally, JMP Securities raised their target price 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 issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $22.05.

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.