Quadrature Capital Ltd Invests $566,000 in ACV Auctions Inc. (NASDAQ:ACVA)

Quadrature Capital Ltd acquired a new stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 27,848 shares of the company’s stock, valued at approximately $566,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. grew its position 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 in the last quarter. MCF Advisors LLC boosted its stake in ACV Auctions by 107.0% during the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after buying an additional 765 shares during the period. Park Place Capital Corp grew its position in ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after buying an additional 706 shares in the last quarter. Amalgamated Bank increased its position in shares of ACV Auctions by 18.0% in the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after purchasing an additional 782 shares during the last quarter. Finally, Verdence Capital Advisors LLC bought a new position in shares of ACV Auctions in the 3rd quarter worth $206,000. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Stock Up 1.8 %

ACVA stock opened at $22.34 on Monday. The business has a 50 day moving average of $19.91 and a 200 day moving average of $18.87. The firm has a market cap of $3.75 billion, a PE ratio of -47.53 and a beta of 1.70. ACV Auctions Inc. has a twelve month low of $12.84 and a twelve month high of $23.46. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25.

Wall Street Analysts Forecast Growth

ACVA has been the topic of several recent research reports. Citigroup increased their price objective on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. JMP Securities upped their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Tuesday, September 17th. Raymond James began coverage on ACV Auctions in a research report on Friday, September 27th. They issued a “market perform” rating and a $22.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 target price on shares of ACV Auctions in a research note on Tuesday, November 26th. Finally, Barrington Research reissued an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Insider Transactions at ACV Auctions

In other news, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total value of $728,325.00. Following the transaction, the chief financial officer now owns 490,482 shares in the company, valued at approximately $10,991,701.62. This represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael Waterman sold 18,001 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total transaction of $338,238.79. Following the sale, the insider now directly owns 337,190 shares of the company’s stock, valued at $6,335,800.10. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 525,937 shares of company stock valued at $10,479,997. Insiders own 8.50% of the company’s stock.

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.