Vestmark Advisory Solutions Inc. Acquires 12,277 Shares of ACV Auctions Inc. $ACVA

Vestmark Advisory Solutions Inc. grew its holdings in ACV Auctions Inc. (NASDAQ:ACVA) by 47.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,283 shares of the company’s stock after acquiring an additional 12,277 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in ACV Auctions were worth $539,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in ACV Auctions by 7.4% in the first quarter. Vanguard Group Inc. now owns 15,301,225 shares of the company’s stock worth $215,594,000 after acquiring an additional 1,055,310 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in ACV Auctions by 6.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,084,830 shares of the company’s stock worth $128,005,000 after acquiring an additional 510,680 shares in the last quarter. Jennison Associates LLC grew its position in ACV Auctions by 9.0% in the first quarter. Jennison Associates LLC now owns 5,427,521 shares of the company’s stock worth $76,474,000 after acquiring an additional 447,167 shares in the last quarter. Nuveen Asset Management LLC grew its position in ACV Auctions by 12.0% in the fourth quarter. Nuveen Asset Management LLC now owns 3,041,900 shares of the company’s stock worth $65,705,000 after acquiring an additional 326,206 shares in the last quarter. Finally, Spyglass Capital Management LLC grew its position in ACV Auctions by 11.6% in the fourth quarter. Spyglass Capital Management LLC now owns 2,916,586 shares of the company’s stock worth $62,998,000 after acquiring an additional 302,341 shares in the last quarter. 88.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ACVA has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their target price on shares of ACV Auctions from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, July 17th. JMP Securities reduced their price objective on shares of ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 12th. Bank of America reduced their price objective on shares of ACV Auctions from $20.00 to $16.50 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Needham & Company LLC reduced their price objective on shares of ACV Auctions from $25.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Finally, Stephens reduced their price objective on shares of ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, August 12th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.67.

ACV Auctions Price Performance

NASDAQ:ACVA opened at $11.65 on Monday. The stock has a market cap of $1.99 billion, a P/E ratio of -23.78 and a beta of 1.69. ACV Auctions Inc. has a one year low of $10.26 and a one year high of $23.46. The company has a fifty day moving average price of $15.10 and a 200 day moving average price of $15.81. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, insider Michael Waterman sold 34,339 shares of the business’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $16.05, for a total value of $551,140.95. Following the sale, the insider owned 379,957 shares of the company’s stock, valued at $6,098,309.85. The trade was a 8.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Craig Eric Anderson sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total transaction of $225,600.00. Following the completion of the sale, the insider directly owned 340,799 shares in the company, valued at $5,125,616.96. This trade represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.90% 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.