ACV Auctions Inc. (NASDAQ:ACVA) Shares Sold by Holocene Advisors LP

Holocene Advisors LP decreased its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 46.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,780 shares of the company’s stock after selling 17,248 shares during the period. Holocene Advisors LP’s holdings in ACV Auctions were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in ACV Auctions by 165.2% during the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after buying an additional 884 shares in the last quarter. MCF Advisors LLC increased its holdings 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 valued at $30,000 after buying an additional 765 shares in the last quarter. Park Place Capital Corp lifted its position in shares of ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after acquiring an additional 706 shares during the last quarter. Amalgamated Bank boosted its stake in shares of ACV Auctions by 18.0% during the 2nd 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. Finally, Verdence Capital Advisors LLC acquired a new position in shares of ACV Auctions in the 3rd quarter worth $206,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

Insider Transactions at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $22.41, for a total value of $728,325.00. Following the transaction, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at $10,991,701.62. This represents a 6.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Vikas Mehta sold 154,324 shares of ACV Auctions stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $19.19, for a total value of $2,961,477.56. Following the sale, the chief operating officer now owns 432,457 shares of the company’s stock, valued at approximately $8,298,849.83. This represents a 26.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 525,937 shares of company stock valued at $10,479,997. 8.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JMP Securities upped their target price on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Tuesday, September 17th. B. Riley upped their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Raymond James began coverage on shares of ACV Auctions in a research report on Friday, September 27th. They issued a “market perform” rating and a $22.00 target price on the stock. Jefferies Financial Group upped their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Citigroup raised their price objective on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, ACV Auctions currently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

ACV Auctions Stock Up 1.8 %

ACVA stock opened at $22.34 on Friday. The company has a 50 day moving average of $19.91 and a two-hundred day moving average of $18.87. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -47.53 and a beta of 1.70. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month high of $23.46. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25.

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.