State of New Jersey Common Pension Fund D Acquires 15,679 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

State of New Jersey Common Pension Fund D raised its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 10.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 167,280 shares of the company’s stock after acquiring an additional 15,679 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in ACV Auctions were worth $2,534,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Keybank National Association OH increased its holdings in ACV Auctions by 3.4% in the 3rd quarter. Keybank National Association OH now owns 22,067 shares of the company’s stock worth $335,000 after buying an additional 725 shares in the last quarter. John G Ullman & Associates Inc. boosted its holdings in shares of ACV Auctions by 1.5% during the 4th quarter. John G Ullman & Associates Inc. now owns 66,284 shares of the company’s stock valued at $1,004,000 after acquiring an additional 1,000 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of ACV Auctions by 4.5% in the third quarter. Moneta Group Investment Advisors LLC now owns 27,248 shares of the company’s stock worth $414,000 after acquiring an additional 1,168 shares during the period. Arizona State Retirement System raised its holdings in shares of ACV Auctions by 4.0% during the third quarter. Arizona State Retirement System now owns 36,900 shares of the company’s stock valued at $560,000 after purchasing an additional 1,413 shares during the last quarter. Finally, Versor Investments LP lifted its position in ACV Auctions by 19.5% during 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. Institutional investors own 88.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ACVA. Northcoast Research raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Wednesday, January 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $19.00 price objective on shares of ACV Auctions in a report on Wednesday, April 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of ACV Auctions in a report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, ACV Auctions has an average rating of “Moderate Buy” and a consensus target price of $20.21.

Insider Buying and Selling

In other news, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $14.07, for a total value of $457,275.00. Following the transaction, the chief financial officer now directly owns 305,579 shares in the company, valued at $4,299,496.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other ACV Auctions news, CEO George Chamoun sold 124,999 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $18.42, for a total transaction of $2,302,481.58. Following the completion of the sale, the chief executive officer now directly owns 597,921 shares of the company’s stock, valued at approximately $11,013,704.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $14.07, for a total transaction of $457,275.00. Following the sale, the chief financial officer now owns 305,579 shares in the company, valued at approximately $4,299,496.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,507,708 shares of company stock valued at $27,126,374. Company insiders own 13.67% of the company’s stock.

ACV Auctions Trading Down 3.1 %

Shares of NASDAQ:ACVA opened at $16.91 on Thursday. The stock has a 50 day moving average of $17.90 and a 200 day moving average of $15.62. The company has a market cap of $2.77 billion, a PE ratio of -36.76 and a beta of 1.57. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month 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.

ACV Auctions (NASDAQ:ACVA) last posted 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 business had revenue of $118.38 million during the quarter, compared to analyst estimates of $117.62 million. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. As a group, equities research analysts expect that ACV Auctions Inc. will post -0.29 EPS for the current year.

ACV Auctions 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.