Bryce Point Capital LLC Purchases Shares of 10,826 ACV Auctions Inc. $ACVA

Bryce Point Capital LLC acquired a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,826 shares of the company’s stock, valued at approximately $176,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ACVA. Vanguard Group Inc. raised its stake in ACV Auctions by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 15,301,225 shares of the company’s stock worth $215,594,000 after buying an additional 1,055,310 shares during the period. William Blair Investment Management LLC raised its position in shares of ACV Auctions by 0.3% during the second quarter. William Blair Investment Management LLC now owns 11,109,706 shares of the company’s stock worth $180,199,000 after purchasing an additional 32,797 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of ACV Auctions by 6.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,084,830 shares of the company’s stock worth $128,005,000 after purchasing an additional 510,680 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of ACV Auctions by 10.5% in the 1st quarter. Alliancebernstein L.P. now owns 6,214,362 shares of the company’s stock worth $87,560,000 after purchasing an additional 592,107 shares in the last quarter. Finally, Jennison Associates LLC grew its position in ACV Auctions by 2.6% in the 2nd quarter. Jennison Associates LLC now owns 5,571,294 shares of the company’s stock valued at $90,366,000 after purchasing an additional 143,773 shares during the period. 88.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ACVA shares. Jefferies Financial Group lowered their price objective on shares of ACV Auctions from $22.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Bank of America dropped their price target on shares of ACV Auctions from $20.00 to $16.50 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Stephens decreased their price objective on ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating for the company in a report on Tuesday, August 12th. Citigroup dropped their target price on ACV Auctions from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Finally, Needham & Company LLC cut their target price on ACV Auctions from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.90.

ACV Auctions Price Performance

ACV Auctions stock opened at $8.93 on Wednesday. ACV Auctions Inc. has a 52 week low of $8.33 and a 52 week high of $23.46. The company’s 50 day moving average price is $9.94 and its two-hundred day moving average price is $13.33. The stock has a market cap of $1.54 billion, a P/E ratio of -18.21 and a beta of 1.63. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28.

ACV Auctions 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.