DiNuzzo Private Wealth Inc. Takes Position in ACV Auctions Inc. (NASDAQ:ACVA)

DiNuzzo Private Wealth Inc. purchased a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA) in the fourth quarter, Holdings Channel.com reports. The fund purchased 52,100 shares of the company’s stock, valued at approximately $1,125,000.

Other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV boosted its position in ACV Auctions by 80.4% in the fourth quarter. KBC Group NV now owns 7,406 shares of the company’s stock valued at $160,000 after buying an additional 3,300 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of ACV Auctions by 65.8% in the 4th quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock valued at $48,000 after acquiring an additional 933 shares during the last quarter. Brighton Jones LLC acquired a new stake in shares of ACV Auctions during the 4th quarter valued at $392,000. Procyon Advisors LLC bought a new stake in ACV Auctions during the 4th quarter worth $361,000. Finally, Moody National Bank Trust Division grew its position in ACV Auctions by 64.6% during the 4th quarter. Moody National Bank Trust Division now owns 79,199 shares of the company’s stock worth $1,711,000 after acquiring an additional 31,094 shares during the last quarter. 88.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Stephens assumed coverage on ACV Auctions in a research note on Wednesday, January 22nd. They set an “equal weight” rating and a $20.50 price target on the stock. Citigroup boosted their target price on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price target on shares of ACV Auctions in a research note on Monday, December 16th. Piper Sandler lifted their price target 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, B. Riley raised their target price on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.65.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $21.34 on Wednesday. The business has a 50-day moving average price of $21.60 and a two-hundred day moving average price of $19.75. ACV Auctions Inc. has a 1-year low of $12.84 and a 1-year high of $23.46. 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 market cap of $3.58 billion, a P/E ratio of -45.40 and a beta of 1.69.

Insider Activity at ACV Auctions

In other news, insider Michael Waterman sold 30,162 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total transaction of $619,225.86. Following the transaction, the insider now owns 314,738 shares in the company, valued at approximately $6,461,571.14. This represents a 8.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total value of $728,325.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares of the company’s stock, valued at approximately $10,991,701.62. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,162 shares of company stock worth $2,359,726 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.

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.