BI Asset Management Fondsmaeglerselskab A S Invests $35,000 in ACV Auctions Inc. $ACVA

BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,450 shares of the company’s stock, valued at approximately $35,000.

A number of other hedge funds also recently modified their holdings of the business. Two Star Manager LLC lifted its holdings in shares of ACV Auctions by 40.8% during the first quarter. Two Star Manager LLC now owns 670,306 shares of the company’s stock worth $9,445,000 after purchasing an additional 194,265 shares during the period. Wellington Management Group LLP lifted its holdings in shares of ACV Auctions by 6.9% during the first quarter. Wellington Management Group LLP now owns 1,826,707 shares of the company’s stock worth $25,738,000 after purchasing an additional 118,156 shares during the period. Roubaix Capital LLC lifted its holdings in shares of ACV Auctions by 18.4% during the first quarter. Roubaix Capital LLC now owns 222,295 shares of the company’s stock worth $3,132,000 after purchasing an additional 34,553 shares during the period. TFJ Management LLC lifted its holdings in shares of ACV Auctions by 146.8% during the first quarter. TFJ Management LLC now owns 702,218 shares of the company’s stock worth $9,901,000 after purchasing an additional 417,736 shares during the period. Finally, Cresset Asset Management LLC acquired a new position in shares of ACV Auctions during the first quarter worth $202,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

Insiders Place Their Bets

In related news, insider Craig Eric Anderson sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total transaction of $225,600.00. Following the transaction, the insider owned 340,799 shares in the company, valued at $5,125,616.96. The trade was a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Waterman sold 34,339 shares of the business’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $16.05, for a total transaction of $551,140.95. Following the transaction, the insider owned 379,957 shares in the company, valued at $6,098,309.85. The trade was a 8.29% decrease in their position. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

ACV Auctions Stock Down 0.4%

ACV Auctions stock opened at $11.54 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. ACV Auctions Inc. has a 12-month low of $10.26 and a 12-month high of $23.46. The firm’s fifty day moving average is $14.46 and its 200 day moving average is $15.40. The company has a market capitalization of $1.99 billion, a PE ratio of -23.55 and a beta of 1.69.

Analyst Ratings Changes

ACVA has been the topic of a number of recent research reports. Stephens cut their price target on shares of ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating on the stock in a report on Tuesday, August 12th. Needham & Company LLC decreased their price objective on shares of ACV Auctions from $25.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Citigroup decreased their price objective on shares of ACV Auctions from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. JMP Securities decreased their price objective on shares of ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating for the company in a research report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ACV Auctions from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.67.

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.