ACV Auctions Inc. (NASDAQ:ACVA) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 43.9% during the third quarter, HoldingsChannel.com reports. The firm owned 199,972 shares of the company’s stock after buying an additional 60,991 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ACV Auctions were worth $4,065,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. increased its position in shares of ACV Auctions by 165.2% during the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after purchasing an additional 884 shares in the last quarter. MCF Advisors LLC increased its position in shares of ACV Auctions by 107.0% during the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after purchasing an additional 765 shares in the last quarter. Park Place Capital Corp increased its position in shares of ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after purchasing an additional 706 shares in the last quarter. Amalgamated Bank grew its holdings in shares of ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after buying an additional 782 shares during the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of ACV Auctions during the third quarter valued at $206,000. 88.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ACV Auctions news, COO Vikas Mehta sold 154,324 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $19.19, for a total value of $2,961,477.56. Following the completion of the transaction, the chief operating officer now owns 432,457 shares in the company, valued at approximately $8,298,849.83. This represents a 26.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO George Chamoun sold 111,363 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $20.27, for a total transaction of $2,257,328.01. Following the completion of the transaction, the chief executive officer now owns 928,166 shares of the company’s stock, valued at approximately $18,813,924.82. This trade represents a 10.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 709,426 shares of company stock worth $13,792,090. Company insiders own 8.50% of the company’s stock.

ACV Auctions Price Performance

NASDAQ:ACVA opened at $20.72 on Friday. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $21.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -44.09 and a beta of 1.59. The firm’s fifty day moving average is $19.29 and its two-hundred day moving average is $18.40.

Analyst Upgrades and Downgrades

ACVA has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, November 8th. JMP Securities boosted their price objective on shares of ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Tuesday, September 17th. Barrington Research reissued an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a report on Monday, November 4th. Jefferies Financial Group boosted their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC boosted their price objective on shares of ACV Auctions from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, ACV Auctions presently has an average rating of “Moderate Buy” and a consensus price target of $22.63.

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.