Loomis Sayles & Co. L P Buys 258,104 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Loomis Sayles & Co. L P boosted its position in ACV Auctions Inc. (NASDAQ:ACVA) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,735,055 shares of the company’s stock after purchasing an additional 258,104 shares during the period. Loomis Sayles & Co. L P owned about 1.64% of ACV Auctions worth $55,603,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ACVA. Blue Trust Inc. boosted its holdings in ACV Auctions by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after buying an additional 884 shares during the period. MCF Advisors LLC grew its position 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 purchasing an additional 765 shares in the last quarter. Park Place Capital Corp lifted its holdings in ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after purchasing an additional 706 shares in the last quarter. Amalgamated Bank grew its holdings in ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after buying an additional 782 shares in the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in ACV Auctions in the 3rd quarter worth approximately $206,000. 88.55% of the stock is owned by institutional investors.

ACV Auctions Trading Up 4.5 %

Shares of ACVA stock opened at $22.96 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. The business has a 50-day moving average of $19.56 and a 200 day moving average of $18.60. The stock has a market capitalization of $3.85 billion, a PE ratio of -48.85 and a beta of 1.59. ACV Auctions Inc. has a 1-year low of $12.84 and a 1-year high of $23.46.

Insider Buying and Selling

In other news, COO Vikas Mehta sold 154,324 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $19.19, for a total transaction of $2,961,477.56. Following the completion of the sale, the chief operating officer now directly owns 432,457 shares in the company, valued at approximately $8,298,849.83. This represents a 26.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total value of $610,675.00. Following the transaction, the chief financial officer now owns 490,482 shares in the company, valued at approximately $9,216,156.78. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 493,437 shares of company stock valued at $9,751,672 over the last three months. 8.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Raymond James assumed coverage on ACV Auctions in a research note on Friday, September 27th. They set a “market perform” rating and a $22.00 price objective for the company. Needham & Company LLC upped their price objective on shares of ACV Auctions from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. JMP Securities boosted their price target 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. Piper Sandler raised their price objective on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group lifted their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.63.

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.