Two Star Manager LLC boosted its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 40.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 670,306 shares of the company's stock after purchasing an additional 194,265 shares during the quarter. ACV Auctions comprises 4.6% of Two Star Manager LLC's holdings, making the stock its 14th biggest position. Two Star Manager LLC owned 0.40% of ACV Auctions worth $9,445,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in ACV Auctions during the 1st quarter worth about $364,000. Tempus Wealth Planning LLC bought a new stake in shares of ACV Auctions in the 1st quarter valued at about $277,000. Raymond James Financial Inc. bought a new stake in shares of ACV Auctions in the 4th quarter valued at about $4,704,000. XTX Topco Ltd increased its stake in shares of ACV Auctions by 270.6% in the 1st quarter. XTX Topco Ltd now owns 80,355 shares of the company's stock valued at $1,132,000 after acquiring an additional 58,674 shares during the last quarter. Finally, CenterBook Partners LP increased its stake in shares of ACV Auctions by 312.6% in the 1st quarter. CenterBook Partners LP now owns 72,802 shares of the company's stock valued at $1,026,000 after acquiring an additional 55,156 shares during the last quarter. 88.55% of the stock is owned by institutional investors.
Insider Buying and Selling
In other ACV Auctions news, insider Michael Waterman sold 34,339 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $16.05, for a total transaction of $551,140.95. Following the completion of the transaction, the insider owned 379,957 shares of the company's stock, valued at $6,098,309.85. This represents a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 directly owned 340,799 shares of the company's stock, valued at approximately $5,125,616.96. This trade represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company's stock.
ACV Auctions Stock Up 5.7%
Shares of ACVA traded up $0.6520 on Friday, hitting $12.1220. The company's stock had a trading volume of 2,276,730 shares, compared to its average volume of 2,126,876. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. The firm's fifty day moving average price is $14.62 and its 200-day moving average price is $15.56. ACV Auctions Inc. has a fifty-two week low of $10.26 and a fifty-two week high of $23.46. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -24.74 and a beta of 1.69.
Analysts Set New Price Targets
ACVA has been the subject of a number of recent analyst reports. Stephens lowered their price target on ACV Auctions from $16.00 to $11.50 and set an "equal weight" rating for the company in a research note on Tuesday, August 12th. JPMorgan Chase & Co. lowered their price target on ACV Auctions from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. Needham & Company LLC lowered their price target on ACV Auctions from $25.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. JMP Securities lowered their price target on ACV Auctions from $20.00 to $18.00 and set a "market outperform" rating for the company in a research note on Tuesday, August 12th. Finally, Citigroup decreased their price objective on ACV Auctions from $21.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.67.
Check Out Our Latest Report on ACVA
About ACV Auctions
(
Free Report)
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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