ACV Auctions Inc. (NASDAQ:ACVA) Shares Acquired by Deepwater Asset Management LLC

Deepwater Asset Management LLC raised its holdings in ACV Auctions Inc. (NASDAQ:ACVA) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 758,892 shares of the company’s stock after buying an additional 57,717 shares during the quarter. ACV Auctions accounts for 5.3% of Deepwater Asset Management LLC’s investment portfolio, making the stock its largest holding. Deepwater Asset Management LLC’s holdings in ACV Auctions were worth $16,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. bought a new position in shares of ACV Auctions during the 4th quarter worth about $1,125,000. KBC Group NV boosted its holdings in ACV Auctions by 80.4% in the fourth quarter. KBC Group NV now owns 7,406 shares of the company’s stock worth $160,000 after acquiring an additional 3,300 shares in the last quarter. Blue Trust Inc. grew its stake in ACV Auctions by 65.8% in the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock valued at $48,000 after acquiring an additional 933 shares during the period. Brighton Jones LLC bought a new stake in shares of ACV Auctions during the fourth quarter valued at approximately $392,000. Finally, Procyon Advisors LLC bought a new position in shares of ACV Auctions in the 4th quarter worth $361,000. 88.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on ACVA shares. Barrington Research restated an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research note on Monday, November 4th. B. Riley upped their target price on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Citigroup raised their price target on shares of ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Stephens initiated coverage on ACV Auctions in a report on Wednesday, January 22nd. They set an “equal weight” rating and a $20.50 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price (up previously from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.65.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $21.16 on Monday. The firm has a market capitalization of $3.55 billion, a P/E ratio of -45.02 and a beta of 1.69. 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 business’s fifty day simple moving average is $21.59 and its 200 day simple moving average is $19.81. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $23.46.

Insider Transactions at ACV Auctions

In other ACV Auctions news, insider Michael Waterman sold 30,162 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 314,738 shares of the company’s stock, valued at approximately $6,461,571.14. This represents a 8.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Zerella sold 15,000 shares of ACV Auctions stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $20.57, for a total value of $308,550.00. Following the completion of the sale, the chief financial officer now directly owns 462,452 shares of the company’s stock, valued at approximately $9,512,637.64. This trade represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,162 shares of company stock worth $2,359,726 in the last ninety days. Company insiders own 8.50% of the company’s stock.

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.