Arizona State Retirement System Has $560,000 Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Arizona State Retirement System grew its position in shares of ACV Auctions Inc. (NASDAQ:ACVAFree Report) by 4.0% in the 3rd quarter, Holdings Channel reports. The firm owned 36,900 shares of the company’s stock after acquiring an additional 1,413 shares during the quarter. Arizona State Retirement System’s holdings in ACV Auctions were worth $560,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ACVA. UBS Group AG raised its holdings in ACV Auctions by 47.5% during the 4th quarter. UBS Group AG now owns 3,725 shares of the company’s stock worth $31,000 after purchasing an additional 1,200 shares during the last quarter. Park Place Capital Corp increased its stake in shares of ACV Auctions by 83.2% in the 3rd quarter. Park Place Capital Corp now owns 2,180 shares of the company’s stock valued at $33,000 after acquiring an additional 990 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of ACV Auctions in the 2nd quarter valued at $36,000. Pinebridge Investments L.P. bought a new stake in shares of ACV Auctions in the 2nd quarter valued at $42,000. Finally, Lazard Asset Management LLC bought a new stake in shares of ACV Auctions in the 4th quarter valued at $53,000. Institutional investors own 78.56% of the company’s stock.

ACV Auctions Stock Performance

Shares of ACVA stock opened at $14.39 on Friday. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.32 billion, a PE ratio of -29.98 and a beta of 1.41. The firm has a fifty day simple moving average of $14.33 and a two-hundred day simple moving average of $14.97. ACV Auctions Inc. has a 12 month low of $9.55 and a 12 month high of $18.68.

ACV Auctions (NASDAQ:ACVAGet Free Report) last posted its quarterly earnings data on Monday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $119.01 million for the quarter, compared to the consensus estimate of $119.13 million. ACV Auctions had a negative net margin of 16.61% and a negative return on equity of 14.82%. Analysts forecast that ACV Auctions Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JMP Securities lowered their price objective on shares of ACV Auctions from $20.00 to $19.00 and set a “market outperform” rating for the company in a research note on Tuesday, January 16th. Northcoast Research upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Wednesday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of ACV Auctions in a research note on Tuesday, November 7th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.21.

Read Our Latest Research Report on ACV Auctions

Insiders Place Their Bets

In other ACV Auctions news, insider Craig Eric Anderson sold 40,252 shares of ACV Auctions stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $14.86, for a total transaction of $598,144.72. Following the transaction, the insider now directly owns 199,413 shares of the company’s stock, valued at approximately $2,963,277.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ACV Auctions news, insider Craig Eric Anderson sold 40,252 shares of ACV Auctions stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $14.86, for a total transaction of $598,144.72. Following the transaction, the insider now directly owns 199,413 shares of the company’s stock, valued at approximately $2,963,277.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $14.07, for a total transaction of $457,275.00. Following the completion of the transaction, the chief financial officer now directly owns 305,579 shares in the company, valued at $4,299,496.53. The disclosure for this sale can be found here. Insiders have sold 613,691 shares of company stock valued at $8,947,778 in the last three months. 13.67% of the stock is currently owned by insiders.

ACV Auctions Profile

(Free Report)

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company provides data services insights into the condition and value of used vehicles, as well as customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.

See Also

Want to see what other hedge funds are holding ACVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ACV Auctions Inc. (NASDAQ:ACVAFree Report).

Institutional Ownership by Quarter for ACV Auctions (NASDAQ:ACVA)

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