New York State Common Retirement Fund Sells 742,164 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

New York State Common Retirement Fund decreased its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 61.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 471,719 shares of the company's stock after selling 742,164 shares during the period. New York State Common Retirement Fund owned 0.29% of ACV Auctions worth $7,147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ACVA. Parkside Financial Bank & Trust acquired a new position in shares of ACV Auctions in the third quarter valued at about $66,000. Allspring Global Investments Holdings LLC acquired a new position in shares of ACV Auctions in the third quarter valued at about $72,000. Versor Investments LP increased its holdings in shares of ACV Auctions by 19.5% in the third quarter. Versor Investments LP now owns 11,974 shares of the company's stock valued at $182,000 after purchasing an additional 1,950 shares during the period. Greycroft LP acquired a new stake in ACV Auctions during the third quarter worth about $231,000. Finally, Algert Global LLC acquired a new stake in ACV Auctions during the third quarter worth about $307,000. Institutional investors and hedge funds own 88.55% of the company's stock.

Analyst Ratings Changes

ACVA has been the topic of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $23.00 target price on shares of ACV Auctions in a report on Thursday, February 22nd. Northcoast Research upgraded ACV Auctions from a "neutral" rating to a "buy" rating and set a $22.00 price target on the stock in a research report on Wednesday, January 10th. Finally, JMP Securities reiterated a "market outperform" rating and set a $19.00 price target on shares of ACV Auctions in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.21.

ACV Auctions Stock Up 2.5 %

NASDAQ:ACVA traded up $0.43 during trading hours on Friday, hitting $17.81. The company's stock had a trading volume of 1,130,764 shares, compared to its average volume of 1,163,135. The stock has a market capitalization of $2.92 billion, a P/E ratio of -38.72 and a beta of 1.56. ACV Auctions Inc. has a 52-week low of $12.84 and a 52-week high of $19.54. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average of $17.98 and a 200-day moving average of $15.64.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.01. The firm had revenue of $118.38 million during the quarter, compared to analysts' expectations of $117.62 million. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. On average, equities analysts forecast that ACV Auctions Inc. will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO George Chamoun sold 124,999 shares of ACV Auctions stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $18.42, for a total value of $2,302,481.58. Following the sale, the chief executive officer now directly owns 597,921 shares in the company, valued at $11,013,704.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO George Chamoun sold 124,999 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $18.42, for a total value of $2,302,481.58. Following the completion of the transaction, the chief executive officer now owns 597,921 shares in the company, valued at approximately $11,013,704.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Eric Anderson sold 5,000 shares of the firm's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $19.07, for a total transaction of $95,350.00. Following the transaction, the insider now owns 202,797 shares of the company's stock, valued at $3,867,338.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,507,708 shares of company stock worth $27,126,374. 13.67% of the stock is owned by insiders.

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.