TimesSquare Capital Management LLC lifted its stake in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 2.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,773,206 shares of the company's stock after purchasing an additional 45,004 shares during the quarter. TimesSquare Capital Management LLC owned 1.06% of ACV Auctions worth $36,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Park Place Capital Corp increased its stake in ACV Auctions by 34.1% in the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company's stock valued at $56,000 after buying an additional 706 shares during the period. MCF Advisors LLC increased its stake in shares of ACV Auctions by 107.0% in the third quarter. MCF Advisors LLC now owns 1,480 shares of the company's stock worth $30,000 after acquiring an additional 765 shares during the last quarter. Amalgamated Bank raised its holdings in shares of ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company's stock worth $93,000 after acquiring an additional 782 shares in the last quarter. Blue Trust Inc. boosted its position in ACV Auctions by 165.2% during the third quarter. Blue Trust Inc. now owns 1,419 shares of the company's stock valued at $29,000 after purchasing an additional 884 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in ACV Auctions by 14.7% in the first quarter. Blair William & Co. IL now owns 12,691 shares of the company's stock valued at $238,000 after purchasing an additional 1,626 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ ACVA opened at $20.13 on Friday. The company has a market cap of $3.35 billion, a P/E ratio of -41.94 and a beta of 1.59. ACV Auctions Inc. has a 1 year low of $12.84 and a 1 year high of $21.22. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $19.06 and a 200 day simple moving average of $18.31.
ACV Auctions (NASDAQ:ACVA - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.02. The company had revenue of $160.62 million during the quarter, compared to analysts' expectations of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. On average, sell-side analysts predict that ACV Auctions Inc. will post -0.35 EPS for the current year.
In other ACV Auctions news, VP Andrew Peer sold 1,795 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the sale, the vice president now owns 62,956 shares of the company's stock, valued at $1,322,076. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, VP Andrew Peer sold 1,795 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the sale, the vice president now directly owns 62,956 shares of the company's stock, valued at approximately $1,322,076. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Eric Anderson sold 7,500 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total transaction of $150,000.00. Following the completion of the sale, the insider now owns 328,167 shares in the company, valued at approximately $6,563,340. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 709,426 shares of company stock valued at $13,792,090. Insiders own 8.50% of the company's stock.
A number of research firms have recently weighed in on ACVA. Piper Sandler raised their price target on ACV Auctions from $16.00 to $18.00 and gave the stock a "neutral" rating in a research note on Friday. Barrington Research reaffirmed an "outperform" rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Monday, November 4th. JMP Securities boosted their target price on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a "market outperform" rating in a research report on Tuesday, September 17th. Needham & Company LLC increased their price target on shares of ACV Auctions from $23.00 to $26.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Jefferies Financial Group lifted their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $22.63.
Read Our Latest Analysis on ACVA
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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