Janus Henderson Group PLC Has $1.29 Million Stake in ACV Auctions Inc. (NASDAQ:ACVA)

Janus Henderson Group PLC increased its position in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,505 shares of the company’s stock after purchasing an additional 3,961 shares during the period. Janus Henderson Group PLC’s holdings in ACV Auctions were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its position in ACV Auctions by 165.2% during the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after acquiring an additional 884 shares during the period. MCF Advisors LLC boosted its stake in shares of ACV Auctions by 107.0% in the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after buying an additional 765 shares during the period. Park Place Capital Corp grew its position in 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 in the last quarter. Amalgamated Bank increased its stake in 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 acquiring an additional 782 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new position in ACV Auctions in the 3rd quarter valued at $206,000. 88.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JMP Securities increased their target price on ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 17th. Barrington Research reiterated an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Monday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $26.00 target price on shares of ACV Auctions in a research report on Tuesday, November 26th. Jefferies Financial Group increased their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler lifted their price objective on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, ACV Auctions presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

ACV Auctions Stock Down 3.1 %

Shares of ACVA opened at $20.30 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. ACV Auctions Inc. has a 52 week low of $12.84 and a 52 week high of $23.46. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of -43.19 and a beta of 1.70. The stock has a fifty day moving average of $20.08 and a 200-day moving average of $18.95.

Insiders Place Their Bets

In other news, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total value of $610,675.00. Following the completion of the transaction, the chief financial officer now owns 490,482 shares of the company’s stock, valued at $9,216,156.78. This represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 sale, the insider now owns 337,190 shares in the company, valued at approximately $6,335,800.10. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 364,113 shares of company stock valued at $7,368,519 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.

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.