New York State Common Retirement Fund Has $16.27 Million Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

New York State Common Retirement Fund raised its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 100.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 753,296 shares of the company’s stock after purchasing an additional 376,557 shares during the period. New York State Common Retirement Fund’s holdings in ACV Auctions were worth $16,271,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in ACV Auctions by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after purchasing an additional 884 shares during the last quarter. MCF Advisors LLC lifted its position in 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 purchasing an additional 765 shares during the period. KBC Group NV lifted its holdings in shares of ACV Auctions by 80.4% during the 4th quarter. KBC Group NV now owns 7,406 shares of the company’s stock worth $160,000 after acquiring an additional 3,300 shares during the period. Verdence Capital Advisors LLC acquired a new stake in shares of ACV Auctions during the 3rd quarter valued at about $206,000. Finally, Icon Wealth Advisors LLC increased its stake in ACV Auctions by 13.5% in the third quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company’s stock valued at $225,000 after acquiring an additional 1,317 shares during the period. Institutional investors and hedge funds own 88.55% of the company’s stock.

Analyst Upgrades and Downgrades

ACVA has been the subject of a number of recent analyst reports. Barrington Research reiterated an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. 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 report on Wednesday, November 27th. JMP Securities reissued a “market outperform” rating and issued a $25.00 target price on shares of ACV Auctions in a report on Monday, December 16th. Stephens upgraded ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Finally, B. Riley raised their price target on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, ACV Auctions currently has an average rating of “Moderate Buy” and a consensus target price of $23.35.

Insider Buying and Selling

In other news, insider Michael Waterman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total value of $304,050.00. Following the completion of the transaction, the insider now owns 311,354 shares in the company, valued at $6,311,145.58. This represents a 4.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Zerella sold 32,500 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $21.65, for a total transaction of $703,625.00. Following the sale, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at $10,618,935.30. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 125,162 shares of company stock valued at $2,663,776. 8.50% of the stock is owned by corporate insiders.

ACV Auctions Trading Down 5.2 %

NASDAQ:ACVA opened at $17.63 on Monday. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -35.98 and a beta of 1.69. ACV Auctions Inc. has a 1-year low of $14.76 and a 1-year high of $23.46. The business’s 50-day moving average price is $21.17 and its two-hundred day moving average price is $20.21. The company has a current ratio of 1.56, a quick ratio of 1.51 and a debt-to-equity ratio of 0.28.

ACV Auctions (NASDAQ:ACVA) last issued its earnings results on Wednesday, February 19th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. The firm had revenue of $159.51 million during the quarter, compared to the consensus estimate of $156.77 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. On average, equities analysts expect that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

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.