RiverPark Advisors LLC Makes New Investment in ACV Auctions Inc. (NASDAQ:ACVA)

RiverPark Advisors LLC bought a new position in ACV Auctions Inc. (NASDAQ:ACVA) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 14,828 shares of the company’s stock, valued at approximately $301,000.

Other hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its position in shares of ACV Auctions by 43.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 199,972 shares of the company’s stock valued at $4,065,000 after purchasing an additional 60,991 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of ACV Auctions during the 3rd quarter valued at approximately $287,000. GSA Capital Partners LLP bought a new position in shares of ACV Auctions during the 3rd quarter valued at approximately $562,000. Los Angeles Capital Management LLC grew its stake in shares of ACV Auctions by 6.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 26,958 shares of the company’s stock valued at $548,000 after acquiring an additional 1,670 shares during the period. Finally, TimesSquare Capital Management LLC grew its stake in shares of ACV Auctions by 2.6% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,773,206 shares of the company’s stock valued at $36,049,000 after acquiring an additional 45,004 shares during the period. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Insiders Place Their Bets

In other news, insider Michael Waterman sold 18,001 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $338,238.79. Following the transaction, the insider now owns 337,190 shares of the company’s stock, valued at approximately $6,335,800.10. This represents a 5.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew Peer sold 1,795 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the transaction, the vice president now directly owns 62,956 shares in the company, valued at $1,322,076. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 709,426 shares of company stock worth $13,792,090 over the last quarter. Company insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barrington Research restated an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Monday, November 4th. JMP Securities upped their price target on ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 17th. Piper Sandler upped their price target on ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Raymond James started coverage on ACV Auctions in a research note on Friday, September 27th. They issued a “market perform” rating and a $22.00 price target for the company. Finally, Needham & Company LLC upped their price objective on ACV Auctions from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.63.

ACV Auctions Stock Performance

NASDAQ:ACVA opened at $20.72 on Friday. The stock’s fifty day moving average is $19.29 and its 200 day moving average is $18.41. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $21.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51.

ACV Auctions Company 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.