Entropy Technologies LP Buys New Shares in ACV Auctions Inc. (NASDAQ:ACVA)

Entropy Technologies LP bought a new stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) during the 4th quarter, HoldingsChannel.com reports. The fund bought 16,780 shares of the company’s stock, valued at approximately $362,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of ACV Auctions by 165.2% during the 3rd 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. MCF Advisors LLC grew its holdings in shares of ACV Auctions by 107.0% during the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after purchasing an additional 765 shares during the last quarter. KBC Group NV grew 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 valued at $160,000 after purchasing an additional 3,300 shares during the last quarter. Verdence Capital Advisors LLC bought a new position in shares of ACV Auctions during the 3rd quarter valued at $206,000. Finally, Icon Wealth Advisors LLC grew its holdings in shares of ACV Auctions by 13.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company’s stock valued at $225,000 after purchasing an additional 1,317 shares during the last quarter. Institutional investors own 88.55% of the company’s stock.

Insider Transactions at ACV Auctions

In other news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total value of $728,325.00. Following the completion of the sale, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at approximately $10,991,701.62. This trade represents a 6.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Waterman sold 15,000 shares of ACV Auctions stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total transaction of $304,050.00. Following the transaction, the insider now directly owns 311,354 shares of the company’s stock, valued at approximately $6,311,145.58. This trade represents a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,162 shares of company stock valued at $2,663,776. Company insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

ACVA has been the topic of several recent research reports. Barrington Research reaffirmed an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a report on Monday, November 4th. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target (up previously from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. Stephens raised shares of ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. B. Riley increased their price target on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group increased 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. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, ACV Auctions presently has a consensus rating of “Moderate Buy” and an average price target of $23.65.

ACV Auctions Trading Up 0.2 %

NASDAQ:ACVA opened at $21.47 on Thursday. The company has a 50-day moving average price of $21.33 and a 200-day moving average price of $19.97. ACV Auctions Inc. has a 12 month low of $13.52 and a 12 month high of $23.46. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -45.68 and a beta of 1.69.

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.