Iridian Asset Management LLC CT Buys 44,073 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Iridian Asset Management LLC CT increased its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,106,154 shares of the company’s stock after purchasing an additional 44,073 shares during the period. ACV Auctions makes up approximately 6.4% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 3rd largest holding. Iridian Asset Management LLC CT’s holdings in ACV Auctions were worth $23,893,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Moody National Bank Trust Division lifted its holdings in ACV Auctions by 64.6% during the fourth quarter. Moody National Bank Trust Division now owns 79,199 shares of the company’s stock worth $1,711,000 after acquiring an additional 31,094 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of ACV Auctions during the third quarter worth $566,000. JPMorgan Chase & Co. lifted its position in ACV Auctions by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,167,615 shares of the company’s stock valued at $64,398,000 after acquiring an additional 311,465 shares in the last quarter. Quantbot Technologies LP acquired a new position in ACV Auctions in the 3rd quarter worth $2,035,000. Finally, State Street Corp increased its holdings in ACV Auctions by 3.7% during the 3rd quarter. State Street Corp now owns 3,242,388 shares of the company’s stock worth $65,918,000 after purchasing an additional 115,700 shares in the last quarter. Institutional investors own 88.55% of the company’s stock.

Insider Buying and Selling

In related news, insider Michael Waterman sold 15,000 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $21.65, for a total transaction of $703,625.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares of the company’s stock, valued at $10,618,935.30. This trade represents a 6.21 % decrease in their position. 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. Insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ACVA shares. B. Riley boosted their price target on ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Jefferies Financial Group upped their price target on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target (up from $26.00) on shares of ACV Auctions in a research note on Thursday, December 26th. JMP Securities reissued a “market outperform” rating and issued a $25.00 price objective on shares of ACV Auctions in a research report on Monday, December 16th. Finally, Piper Sandler raised their target price 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. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, ACV Auctions presently has an average rating of “Moderate Buy” and a consensus price target of $23.65.

ACV Auctions Price Performance

ACV Auctions stock opened at $20.97 on Friday. ACV Auctions Inc. has a twelve month low of $13.52 and a twelve month high of $23.46. The company’s 50-day moving average price is $21.44 and its two-hundred day moving average price is $19.86. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51.

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.