Jane Street Group LLC lowered its stake in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 55.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 109,993 shares of the company's stock after selling 138,760 shares during the quarter. Jane Street Group LLC owned approximately 0.07% of ACV Auctions worth $2,236,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in ACV Auctions by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company's stock valued at $29,000 after purchasing an additional 884 shares during the last quarter. MCF Advisors LLC grew its holdings in 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 buying an additional 765 shares in the last quarter. Park Place Capital Corp grew its stake in shares of ACV Auctions by 34.1% in the third quarter. Park Place Capital Corp now owns 2,779 shares of the company's stock valued at $56,000 after acquiring an additional 706 shares in the last quarter. Amalgamated Bank grew its position in shares of 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 during the 3rd quarter worth $206,000. Institutional investors and hedge funds own 88.55% of the company's stock.
In other news, insider Michael Waterman sold 16,098 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $19.95, for a total value of $321,155.10. Following the sale, the insider now directly owns 348,155 shares of the company's stock, valued at approximately $6,945,692.25. This represents a 4.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO William Zerella sold 32,500 shares of the firm's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total transaction of $610,675.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders sold 99,099 shares of company stock valued at $1,998,394. Company insiders own 8.50% of the company's stock.
Shares of ACV Auctions stock opened at $21.42 on Tuesday. The stock's 50-day simple moving average is $20.32 and its 200 day simple moving average is $19.08. ACV Auctions Inc. has a 52-week low of $12.84 and a 52-week high of $23.46. 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 stock has a market capitalization of $3.59 billion, a P/E ratio of -45.57 and a beta of 1.70.
Several equities analysts have recently commented on the stock. JMP Securities restated a "market outperform" rating and issued a $25.00 target price on shares of ACV Auctions in a research report on Monday, December 16th. Jefferies Financial Group raised their price target 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. Piper Sandler increased their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $26.00 target price on shares of ACV Auctions in a research note on Tuesday, November 26th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.60.
View Our Latest Research Report on 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.
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