Iridian Asset Management LLC CT Sells 139,486 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Iridian Asset Management LLC CT decreased its holdings in ACV Auctions Inc. (NASDAQ:ACVA) by 11.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,062,081 shares of the company’s stock after selling 139,486 shares during the period. ACV Auctions makes up about 4.6% of Iridian Asset Management LLC CT’s portfolio, making the stock its 4th biggest position. Iridian Asset Management LLC CT owned about 0.64% of ACV Auctions worth $21,592,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Comerica Bank lifted its stake in shares of ACV Auctions by 5,045.7% in the 1st quarter. Comerica Bank now owns 63,550 shares of the company’s stock valued at $1,193,000 after acquiring an additional 62,315 shares during the last quarter. Jennison Associates LLC increased its holdings in ACV Auctions by 11.0% in the 1st quarter. Jennison Associates LLC now owns 3,954,432 shares of the company’s stock worth $74,225,000 after purchasing an additional 393,423 shares in the last quarter. William Blair Investment Management LLC raised its position in ACV Auctions by 4.1% in the second quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock valued at $91,499,000 after purchasing an additional 198,228 shares during the last quarter. Swedbank AB acquired a new stake in shares of ACV Auctions during the first quarter valued at about $15,016,000. Finally, TimesSquare Capital Management LLC grew its holdings in shares of ACV Auctions by 45.6% during the first quarter. TimesSquare Capital Management LLC now owns 1,765,822 shares of the company’s stock worth $33,144,000 after purchasing an additional 552,719 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

Insider Buying and Selling

In other news, CFO William Zerella sold 32,500 shares of the business’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 completion of the sale, the chief financial officer now owns 490,482 shares in the company, valued at $9,216,156.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total transaction of $610,675.00. Following the completion of the sale, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at $9,216,156.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Andrew Peer sold 1,795 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 62,956 shares of the company’s stock, valued at $1,322,076. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 741,926 shares of company stock valued at $14,285,765. 8.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ACVA shares. Raymond James started coverage on shares of ACV Auctions in a report on Friday, September 27th. They issued a “market perform” rating and a $22.00 price objective for the company. Jefferies Financial Group lifted their price target 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. JMP Securities increased their price objective on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Tuesday, September 17th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.00.

ACV Auctions Stock Performance

NASDAQ:ACVA opened at $17.71 on Thursday. The firm has a market capitalization of $2.95 billion, a P/E ratio of -36.90 and a beta of 1.56. ACV Auctions Inc. has a twelve month low of $12.84 and a twelve month high of $21.10. The company has a fifty day moving average of $19.11 and a 200-day moving average of $18.27. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.24.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.02. The firm had revenue of $160.62 million for the quarter, compared to analyst estimates of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. As a group, sell-side analysts anticipate that ACV Auctions Inc. will post -0.35 EPS for the current year.

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.