Y Intercept Hong Kong Ltd Takes Position in ACV Auctions Inc. (NASDAQ:ACVA)

Y Intercept Hong Kong Ltd acquired a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,488 shares of the company’s stock, valued at approximately $315,000.

A number of other large investors have also recently bought and sold shares of ACVA. Blue Trust Inc. lifted its position in shares of ACV Auctions by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after buying an additional 884 shares during the last quarter. MCF Advisors LLC boosted its stake in shares of ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after purchasing an additional 765 shares in the last quarter. Park Place Capital Corp grew its holdings in shares of ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after purchasing an additional 706 shares during the last quarter. Amalgamated Bank increased its position in ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after purchasing an additional 782 shares in the last quarter. Finally, Verdence Capital Advisors LLC bought a new position in ACV Auctions in the 3rd quarter valued at approximately $206,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

ACV Auctions Price Performance

ACV Auctions stock opened at $21.08 on Wednesday. The firm has a market cap of $3.53 billion, a P/E ratio of -44.85 and a beta of 1.70. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $23.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. The stock’s 50 day moving average is $20.17 and its 200 day moving average is $19.01.

Insider Transactions at ACV Auctions

In other ACV Auctions news, VP Andrew Peer sold 1,795 shares of ACV Auctions stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the sale, the vice president now directly owns 62,956 shares in the company, valued at approximately $1,322,076. The trade was 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 the 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 owns 490,482 shares in the company, valued at $9,216,156.78. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,894 shares of company stock worth $2,036,089 over the last three months. 8.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price target on shares of ACV Auctions in a report on Tuesday, November 26th. Piper Sandler upped their target price on ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Barrington Research reissued an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research note on Monday, November 4th. Jefferies Financial Group boosted their price target on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, B. Riley raised their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.60.

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.