Aigen Investment Management LP Makes New $287,000 Investment in ACV Auctions Inc. (NASDAQ:ACVA)

Aigen Investment Management LP bought a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,096 shares of the company’s stock, valued at approximately $287,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ProShare Advisors LLC boosted its position in ACV Auctions by 8.5% in the first quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock worth $429,000 after purchasing an additional 1,798 shares during the last quarter. Blair William & Co. IL grew its position in ACV Auctions by 14.7% during the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after buying an additional 1,626 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in ACV Auctions by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 77,547 shares of the company’s stock worth $1,456,000 after buying an additional 4,621 shares during the last quarter. Bayesian Capital Management LP raised its position in ACV Auctions by 220.9% in the first quarter. Bayesian Capital Management LP now owns 33,411 shares of the company’s stock worth $627,000 after acquiring an additional 23,000 shares during the period. Finally, Comerica Bank grew its position in shares of ACV Auctions by 5,045.7% during the 1st quarter. Comerica Bank now owns 63,550 shares of the company’s stock valued at $1,193,000 after acquiring an additional 62,315 shares during the period. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ACVA shares. Needham & Company LLC lifted their price target on shares of ACV Auctions from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Raymond James initiated coverage on ACV Auctions in a research report on Friday, September 27th. They set a “market perform” rating and a $22.00 price target on the stock. Jefferies Financial Group lifted their price objective on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JMP Securities boosted their price objective on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 17th. Finally, Barrington Research reiterated an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.63.

Insider Activity at ACV Auctions

In related news, CEO George Chamoun sold 111,363 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $20.27, for a total transaction of $2,257,328.01. Following the completion of the transaction, the chief executive officer now directly owns 928,166 shares in the company, valued at $18,813,924.82. The trade was a 10.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Hirsch sold 61,666 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $18.63, for a total value of $1,148,837.58. Following the completion of the sale, the director now directly owns 9,239 shares in the company, valued at approximately $172,122.57. The trade was a 86.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 709,426 shares of company stock valued at $13,792,090. Corporate insiders own 8.50% of the company’s stock.

ACV Auctions Trading Up 3.5 %

Shares of ACVA opened at $20.72 on Friday. ACV Auctions Inc. has a twelve month low of $12.84 and a twelve month high of $21.31. The stock has a market cap of $3.45 billion, a PE ratio of -44.09 and a beta of 1.59. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The business’s 50-day moving average price is $19.29 and its 200-day moving average price is $18.40.

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.