Bayforest Capital Ltd Purchases 13,667 Shares of ACV Auctions Inc. $ACVA

Bayforest Capital Ltd boosted its position in ACV Auctions Inc. (NASDAQ:ACVA) by 10,199.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,801 shares of the company’s stock after purchasing an additional 13,667 shares during the quarter. Bayforest Capital Ltd’s holdings in ACV Auctions were worth $224,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of ACV Auctions in the first quarter worth $35,000. CWM LLC grew its stake in shares of ACV Auctions by 77.4% in the second quarter. CWM LLC now owns 4,642 shares of the company’s stock worth $75,000 after acquiring an additional 2,026 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of ACV Auctions by 3,005.8% in the first quarter. GAMMA Investing LLC now owns 5,932 shares of the company’s stock worth $84,000 after acquiring an additional 5,741 shares during the last quarter. AlphaQuest LLC grew its stake in shares of ACV Auctions by 2,640.6% in the first quarter. AlphaQuest LLC now owns 6,687 shares of the company’s stock worth $94,000 after acquiring an additional 6,443 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of ACV Auctions by 14.5% in the first quarter. Bessemer Group Inc. now owns 9,911 shares of the company’s stock worth $140,000 after acquiring an additional 1,257 shares during the last quarter. Institutional investors own 88.55% of the company’s stock.

Insider Transactions at ACV Auctions

In other ACV Auctions news, insider Craig Eric Anderson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total transaction of $225,600.00. Following the transaction, the insider owned 340,799 shares in the company, valued at approximately $5,125,616.96. This represents a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 18,500 shares of company stock worth $258,763. 2.90% of the stock is currently owned by corporate insiders.

ACV Auctions Price Performance

ACVA opened at $8.65 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market capitalization of $1.49 billion, a P/E ratio of -17.64 and a beta of 1.64. The company’s 50-day simple moving average is $10.63 and its two-hundred day simple moving average is $13.77. ACV Auctions Inc. has a 52-week low of $8.33 and a 52-week high of $23.46.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ACVA shares. Stephens cut their target price on ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Tuesday, August 12th. JPMorgan Chase & Co. cut their target price on ACV Auctions from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, July 17th. Needham & Company LLC cut their target price on ACV Auctions from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. JMP Securities cut their target price on ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 12th. Finally, The Goldman Sachs Group reduced their price objective on ACV Auctions from $26.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.27.

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.