State of New Jersey Common Pension Fund D Acquires 15,679 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

State of New Jersey Common Pension Fund D grew its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 10.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 167,280 shares of the company’s stock after buying an additional 15,679 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.10% of ACV Auctions worth $2,534,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ACVA. Parkside Financial Bank & Trust bought a new stake in ACV Auctions in the third quarter valued at $66,000. Allspring Global Investments Holdings LLC bought a new position in ACV Auctions in the third quarter worth approximately $72,000. Versor Investments LP grew its stake in ACV Auctions by 19.5% in the third quarter. Versor Investments LP now owns 11,974 shares of the company’s stock valued at $182,000 after acquiring an additional 1,950 shares during the period. Greycroft LP bought a new position in shares of ACV Auctions in the 3rd quarter worth $231,000. Finally, Algert Global LLC acquired a new stake in ACV Auctions in the 3rd quarter valued at $307,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

Insider Activity

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $14.07, for a total transaction of $457,275.00. Following the sale, the chief financial officer now directly owns 305,579 shares of the company’s stock, valued at $4,299,496.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ACV Auctions news, insider Craig Eric Anderson sold 7,500 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $18.50, for a total transaction of $138,750.00. Following the sale, the insider now owns 194,525 shares in the company, valued at $3,598,712.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $14.07, for a total value of $457,275.00. Following the completion of the transaction, the chief financial officer now owns 305,579 shares of the company’s stock, valued at $4,299,496.53. The disclosure for this sale can be found here. Insiders have sold 1,507,708 shares of company stock valued at $27,126,374 in the last 90 days. Insiders own 13.67% of the company’s stock.

ACV Auctions Trading Down 3.1 %

NASDAQ ACVA opened at $16.91 on Thursday. The business’s fifty day moving average is $17.90 and its 200-day moving average is $15.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -36.76 and a beta of 1.57. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $19.54.

ACV Auctions (NASDAQ:ACVA) last released its earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The firm had revenue of $118.38 million for the quarter, compared to analysts’ expectations of $117.62 million. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. Equities research analysts predict that ACV Auctions Inc. will post -0.29 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a report on Thursday, February 22nd. JMP Securities reissued a “market outperform” rating and issued a $19.00 price objective on shares of ACV Auctions in a research note on Wednesday, April 17th. Finally, Northcoast Research raised ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.21.

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.