ACV Auctions Inc. (NASDAQ:ACVA) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 11.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,655,640 shares of the company’s stock after purchasing an additional 897,477 shares during the quarter. Massachusetts Financial Services Co. MA owned 5.20% of ACV Auctions worth $175,969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ACVA. William Blair Investment Management LLC raised its stake in shares of 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 acquiring an additional 198,228 shares during the period. Jennison Associates LLC raised its position in ACV Auctions by 6.8% in the third quarter. Jennison Associates LLC now owns 4,247,932 shares of the company’s stock valued at $86,360,000 after purchasing an additional 271,970 shares during the period. Dimensional Fund Advisors LP raised its position in ACV Auctions by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,103,770 shares of the company’s stock valued at $38,394,000 after purchasing an additional 163,380 shares during the period. TimesSquare Capital Management LLC lifted its stake in ACV Auctions by 2.6% during the third quarter. TimesSquare Capital Management LLC now owns 1,773,206 shares of the company’s stock worth $36,049,000 after purchasing an additional 45,004 shares in the last quarter. Finally, Engle Capital Management L.P. boosted its position in shares of 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 buying an additional 163,000 shares during the period. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ACV Auctions news, VP Andrew Peer sold 1,795 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $21.00, for a total transaction of $37,695.00. Following the transaction, the vice president now owns 62,956 shares of the company’s stock, valued at approximately $1,322,076. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 501,832 shares of company stock valued at $9,912,940 in the last ninety days. Insiders own 8.50% of the company’s stock.

ACV Auctions Price Performance

ACV Auctions stock opened at $21.97 on Friday. 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 company has a fifty day simple moving average of $19.50 and a 200-day simple moving average of $18.55. The stock has a market cap of $3.68 billion, a P/E ratio of -46.74 and a beta of 1.59. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month high of $22.23.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ACVA shares. Raymond James assumed coverage on ACV Auctions in a research note on Friday, September 27th. They set a “market perform” rating and a $22.00 target price on the stock. Jefferies Financial Group raised their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JMP Securities upped their target price on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 17th. Piper Sandler increased their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Needham & Company LLC boosted their price target on shares of ACV Auctions from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.63.

About ACV Auctions

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.