Walleye Capital LLC Has $19.79 Million Stake in ACV Auctions Inc. (NASDAQ:ACVA)

Walleye Capital LLC increased its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 25.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 973,538 shares of the company’s stock after acquiring an additional 196,321 shares during the period. Walleye Capital LLC owned about 0.58% of ACV Auctions worth $19,792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank increased its stake in 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 buying an additional 62,315 shares during the last quarter. William Blair Investment Management LLC increased its stake in ACV Auctions by 4.1% in the 2nd quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock valued at $91,499,000 after buying an additional 198,228 shares during the last quarter. Swedbank AB acquired a new stake in ACV Auctions in the 1st quarter valued at $15,016,000. Harbor Capital Advisors Inc. increased its stake in ACV Auctions by 383.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 153,050 shares of the company’s stock valued at $3,112,000 after buying an additional 121,411 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in ACV Auctions in the 3rd quarter valued at $2,915,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Jefferies Financial Group lifted their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. B. Riley lifted their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday. JMP Securities lifted their price objective on shares of ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 17th. Raymond James assumed coverage on shares of ACV Auctions in a research report on Friday, September 27th. They issued a “market perform” rating and a $22.00 price objective for the company. Finally, Citigroup lifted their price objective on shares of ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

ACV Auctions Stock Performance

Shares of ACVA stock opened at $22.71 on Friday. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of -48.32 and a beta of 1.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. The company has a 50-day simple moving average of $19.65 and a 200 day simple moving average of $18.66. ACV Auctions Inc. has a 52 week low of $12.84 and a 52 week high of $23.46.

Insider Buying and Selling

In other ACV Auctions news, insider Craig Eric Anderson sold 7,500 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.00, for a total value of $150,000.00. Following the completion of the sale, the insider now owns 328,167 shares of the company’s stock, valued at $6,563,340. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Vikas Mehta sold 154,324 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $19.19, for a total transaction of $2,961,477.56. Following the completion of the sale, the chief operating officer now directly owns 432,457 shares of the company’s stock, valued at $8,298,849.83. This represents a 26.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 525,937 shares of company stock valued at $10,479,997. 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.