GSA Capital Partners LLP Invests $562,000 in ACV Auctions Inc. (NASDAQ:ACVA)

GSA Capital Partners LLP bought a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 27,644 shares of the company’s stock, valued at approximately $562,000.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its position in ACV Auctions by 165.2% during the 3rd 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 buying an additional 765 shares during the period. 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 buying an additional 706 shares during the period. Amalgamated Bank increased its position in shares of ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after buying an additional 782 shares during the period. Finally, Verdence Capital Advisors LLC bought a new position in ACV Auctions during the third quarter worth $206,000. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Price Performance

ACVA stock opened at $21.46 on Wednesday. The firm has a 50 day moving average of $19.39 and a 200-day moving average of $18.48. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $22.23. The firm has a market capitalization of $3.60 billion, a P/E ratio of -45.66 and a beta of 1.59.

Insider Activity

In other ACV Auctions news, VP Andrew Peer sold 1,795 shares of ACV Auctions stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $21.00, for a total transaction of $37,695.00. Following the completion of the sale, the vice president now directly owns 62,956 shares in the company, valued at $1,322,076. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Waterman sold 18,001 shares of ACV Auctions stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $338,238.79. Following the transaction, the insider now directly owns 337,190 shares in the company, valued at $6,335,800.10. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 709,426 shares of company stock worth $13,792,090. 8.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ACVA. Needham & Company LLC increased their target price on shares of ACV Auctions from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Raymond James initiated coverage on shares of ACV Auctions in a report on Friday, September 27th. They issued a “market perform” rating and a $22.00 target price for the company. Barrington Research restated an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a report on Monday, November 4th. Piper Sandler raised their price objective 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, JMP Securities lifted their target price on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.