Loomis Sayles & Co. L P Boosts Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Loomis Sayles & Co. L P increased its stake in ACV Auctions Inc. (NASDAQ:ACVA) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,735,055 shares of the company’s stock after buying an additional 258,104 shares during the period. Loomis Sayles & Co. L P’s holdings in ACV Auctions were worth $55,603,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ACVA. Massachusetts Financial Services Co. MA boosted its holdings in shares of ACV Auctions by 47.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,758,163 shares of the company’s stock valued at $141,586,000 after buying an additional 2,502,064 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in ACV Auctions by 217.5% in the second quarter. Bank of New York Mellon Corp now owns 1,391,070 shares of the company’s stock worth $25,387,000 after purchasing an additional 952,929 shares during the period. Swedbank AB purchased a new position in shares of ACV Auctions during the first quarter valued at approximately $15,016,000. Allspring Global Investments Holdings LLC bought a new stake in shares of ACV Auctions in the 2nd quarter worth approximately $8,567,000. Finally, Driehaus Capital Management LLC boosted its position in shares of ACV Auctions by 48.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,232,238 shares of the company’s stock worth $22,488,000 after purchasing an additional 399,402 shares in the last quarter. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ACVA has been the subject of a number of recent research reports. Needham & Company LLC lifted their price objective on ACV Auctions from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Piper Sandler increased their price objective on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Jefferies Financial Group lifted their target price on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Raymond James began coverage on shares of ACV Auctions in a report on Friday, September 27th. They set a “market perform” rating and a $22.00 price target on the stock. Finally, JMP Securities boosted their price objective on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, ACV Auctions has a consensus rating of “Moderate Buy” and a consensus price target of $22.63.

Insider Activity

In related news, VP Andrew Peer sold 1,795 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the sale, the vice president now directly owns 62,956 shares of the company’s stock, valued at approximately $1,322,076. This represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $610,675.00. Following the sale, the chief financial officer now owns 490,482 shares in the company, valued at approximately $9,216,156.78. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 493,437 shares of company stock valued at $9,751,672 in the last ninety days. 8.50% of the stock is currently owned by company insiders.

ACV Auctions Trading Up 4.5 %

Shares of ACVA stock opened at $22.96 on Tuesday. The stock has a market capitalization of $3.85 billion, a P/E ratio of -48.85 and a beta of 1.59. 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 firm’s 50 day moving average is $19.56 and its 200 day moving average is $18.60. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month high of $23.46.

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.