TD Asset Management Inc Invests $606,000 in ACV Auctions Inc. $ACVA

TD Asset Management Inc acquired a new position in ACV Auctions Inc. (NASDAQ:ACVA) in the 2nd quarter, HoldingsChannel reports. The firm acquired 37,352 shares of the company’s stock, valued at approximately $606,000.

Other institutional investors also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of ACV Auctions in the first quarter valued at approximately $35,000. CWM LLC grew its holdings in shares of ACV Auctions by 77.4% in the second quarter. CWM LLC now owns 4,642 shares of the company’s stock valued at $75,000 after acquiring an additional 2,026 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of ACV Auctions by 2,640.6% in the first quarter. AlphaQuest LLC now owns 6,687 shares of the company’s stock valued at $94,000 after acquiring an additional 6,443 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of ACV Auctions by 14.5% in the first quarter. Bessemer Group Inc. now owns 9,911 shares of the company’s stock valued at $140,000 after acquiring an additional 1,257 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of ACV Auctions by 100.0% in the second quarter. UMB Bank n.a. now owns 12,100 shares of the company’s stock valued at $196,000 after acquiring an additional 6,050 shares in the last quarter. 88.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Jefferies Financial Group reduced their target price on ACV Auctions from $22.00 to $15.00 and set a “buy” rating for the company in a report on Friday, October 17th. Bank of America reduced their target price on ACV Auctions from $20.00 to $16.50 and set a “buy” rating for the company in a report on Tuesday, August 12th. Stephens reduced their target price 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. JMP Securities reduced their price objective on ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating for the company in a report on Tuesday, August 12th. Finally, Needham & Company LLC reduced their price objective on ACV Auctions from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, ACV Auctions presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.36.

ACV Auctions Price Performance

Shares of NASDAQ ACVA opened at $9.39 on Friday. The stock has a fifty day simple moving average of $10.33 and a two-hundred day simple moving average of $13.61. ACV Auctions Inc. has a 1-year low of $8.33 and a 1-year high of $23.46. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -19.15 and a beta of 1.64. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28.

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.