Deepwater Asset Management LLC Grows Stock Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Deepwater Asset Management LLC grew its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 758,892 shares of the company’s stock after acquiring an additional 57,717 shares during the period. ACV Auctions accounts for 5.3% of Deepwater Asset Management LLC’s holdings, making the stock its largest position. Deepwater Asset Management LLC owned about 0.45% of ACV Auctions worth $16,392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Park Place Capital Corp raised its stake in ACV Auctions by 34.1% in the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after purchasing an additional 706 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of ACV Auctions by 107.0% during the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after purchasing an additional 765 shares during the period. Blue Trust Inc. raised its position in shares of ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after buying an additional 884 shares in the last quarter. Icon Wealth Advisors LLC boosted its stake in shares of ACV Auctions by 13.5% in the third quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company’s stock valued at $225,000 after buying an additional 1,317 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in ACV Auctions by 6.6% during the third quarter. Los Angeles Capital Management LLC now owns 26,958 shares of the company’s stock worth $548,000 after buying an additional 1,670 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ACVA shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective (up from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. Stephens began coverage on ACV Auctions in a research note on Wednesday, January 22nd. They issued an “equal weight” rating and a $20.50 price target for the company. Citigroup increased their price objective on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. JMP Securities restated a “market outperform” rating and issued a $25.00 target price on shares of ACV Auctions in a research report on Monday, December 16th. Finally, Piper Sandler increased their price target on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.65.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $21.16 on Monday. The company’s 50 day moving average price is $21.59 and its two-hundred day moving average price is $19.81. The firm has a market capitalization of $3.55 billion, a P/E ratio of -45.02 and a beta of 1.69. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $23.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51.

Insider Activity at ACV Auctions

In related news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $21.65, for a total value of $703,625.00. Following the completion of the transaction, the chief financial officer now owns 490,482 shares in the company, valued at $10,618,935.30. This trade represents a 6.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Waterman sold 30,162 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total transaction of $619,225.86. Following the sale, the insider now directly owns 314,738 shares in the company, valued at $6,461,571.14. The trade was a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,162 shares of company stock valued at $2,359,726 in the last 90 days. 8.50% of the stock is owned by corporate insiders.

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.