Harbor Capital Advisors Inc. grew its stake in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 383.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,050 shares of the company's stock after acquiring an additional 121,411 shares during the period. Harbor Capital Advisors Inc. owned 0.09% of ACV Auctions worth $3,112,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its stake in ACV Auctions by 47.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,758,163 shares of the company's stock valued at $141,586,000 after purchasing an additional 2,502,064 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of 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 buying an additional 198,228 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in ACV Auctions by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,103,770 shares of the company's stock worth $38,394,000 after buying an additional 163,380 shares during the last quarter. TimesSquare Capital Management LLC raised its position in 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 acquiring an additional 552,719 shares in the last quarter. Finally, Engle Capital Management L.P. raised its position in ACV Auctions by 11.6% during the second quarter. Engle Capital Management L.P. now owns 1,563,000 shares of the company's stock worth $28,525,000 after acquiring an additional 163,000 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company's stock.
Several analysts have issued reports on ACVA shares. Barrington Research reaffirmed an "outperform" rating and set a $23.00 price target on shares of ACV Auctions in a research report on Monday. Jefferies Financial Group upped their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Raymond James started coverage on shares of ACV Auctions in a research report on Friday, September 27th. They set a "market perform" rating and a $22.00 price target on the stock. Finally, JMP Securities upped their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a "market outperform" rating in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.00.
Check Out Our Latest Analysis on ACVA
Shares of ACVA opened at $17.25 on Tuesday. The firm has a market capitalization of $2.87 billion, a PE ratio of -35.94 and a beta of 1.59. The company's 50-day moving average is $19.01 and its 200-day moving average is $18.28. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $21.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49.
ACV Auctions (NASDAQ:ACVA - Get Free Report) last issued 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 company 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%. Equities analysts forecast that ACV Auctions Inc. will post -0.35 EPS for the current year.
In related news, CFO William Zerella sold 32,500 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total value of $610,675.00. Following the transaction, the chief financial officer now directly owns 490,482 shares in the company, valued at approximately $9,216,156.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO William Zerella sold 32,500 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total value of $610,675.00. Following the transaction, the chief financial officer now directly owns 490,482 shares in the company, valued at approximately $9,216,156.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian Hirsch sold 61,666 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $18.63, for a total transaction of $1,148,837.58. Following the completion of the transaction, the director now owns 9,239 shares in the company, valued at $172,122.57. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 709,426 shares of company stock worth $13,792,090. Corporate insiders own 8.50% of the company's stock.
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.
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