<div id="readability-page-1"><p>Panagora Asset Management Inc. bought a new position in  ACV Auctions Inc. (NASDAQ:ACVA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 488,058 shares of the company's stock, valued at approximately $7,916,000. Panagora Asset Management Inc. owned approximately 0.29% of ACV Auctions at the end of the most recent quarter.</p><p>Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of  ACV Auctions during the fourth quarter valued at $392,000.  Mackenzie Financial Corp lifted its stake in  ACV Auctions by 48.7% during the 1st quarter. Mackenzie Financial Corp now owns 14,203 shares of the company's stock valued at $200,000 after acquiring an additional 4,652 shares during the period.  Vanguard Group Inc. boosted its holdings in shares of  ACV Auctions by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 15,301,225 shares of the company's stock valued at $215,594,000 after acquiring an additional 1,055,310 shares during the last quarter.  CenterBook Partners LP grew its stake in shares of  ACV Auctions by 312.6% in the first quarter. CenterBook Partners LP now owns 72,802 shares of the company's stock worth $1,026,000 after acquiring an additional 55,156 shares during the period.  Finally, Citigroup Inc. raised its holdings in shares of  ACV Auctions by 305.4% during the first quarter. Citigroup Inc. now owns 764,518 shares of the company's stock valued at $10,772,000 after purchasing an additional 575,925 shares during the last quarter. 88.55% of the stock is owned by institutional investors. </p><h2>Wall Street Analysts Forecast Growth</h2><p>Several brokerages recently issued reports on ACVA. JPMorgan Chase &amp; Co. dropped their target price on shares of ACV Auctions from $18.00 to $11.00 and set an &#34;overweight&#34; rating on the stock in a report on Thursday, November 6th. Needham &amp; Company LLC lowered their price target on ACV Auctions from $14.00 to $9.00 and set a &#34;buy&#34; rating on the stock in a report on Thursday, November 6th. Bank of America  restated an &#34;underperform&#34; rating and issued a $6.00 price target (down from $16.50) on shares of ACV Auctions in a research note on Thursday, November 6th. Citigroup reduced their price objective on ACV Auctions from $17.00 to $13.00 and set a &#34;buy&#34; rating for the company in a research report on Friday, November 21st. Finally, Barclays initiated coverage on ACV Auctions in a report on Tuesday, November 11th. They issued an &#34;equal weight&#34; rating and a $6.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating, three have assigned  a Hold rating and one  has issued  a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of &#34;Moderate Buy&#34; and an average price target of $12.25.</p><p><b>View Our Latest Research Report on ACV Auctions</b></p><h2>Insider Buying and Selling at ACV Auctions</h2><p>In other ACV Auctions news, Director Robert P. Goodman acquired 912,408 shares of the stock in a transaction dated Monday, November 10th. The shares were acquired at an average cost of $5.61 per share, for a total transaction of $5,118,608.88. Following the completion of the transaction, the director directly owned 912,408 shares of the company's stock, valued at approximately $5,118,608.88. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brian Hirsch acquired 80,571 shares of the company's stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $6.21 per share, with a total value of $500,345.91. Following the purchase, the director owned 99,678 shares of the company's stock, valued at approximately $619,000.38. This trade represents a 421.68% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own  2.90% of the company's stock. </p><h2>ACV Auctions Trading Down 0.6%</h2><p>ACV Auctions stock opened at $7.69 on Wednesday. ACV Auctions Inc. has a 12-month low of $4.95 and a 12-month high of $23.30. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -15.70 and a beta of 1.63. The firm has a 50 day moving average of $8.27 and a 200 day moving average of $12.08. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. </p><p>ACV Auctions (NASDAQ:ACVA - Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.07 earnings per share for the quarter, hitting analysts' consensus estimates of $0.07. The business had revenue of $199.56 million during the quarter, compared to analyst estimates of $200.26 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The company's revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share.  As a group, research analysts predict that  ACV Auctions Inc. will post -0.07 earnings per share for the current year. </p><h2>About ACV Auctions</h2> (Free Report)<p>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.</p><h2>Recommended Stories</h2><ul><li>Five stocks we like better than ACV Auctions</li><li>Utilities Stocks Explained – How and Why to Invest in Utilities</li><li>Wall Street’s Sleeping Giant: Is Amazon About to Wake Up?</li><li>Health Care Stocks Explained: Why You Might Want to Invest</li><li>Checkmate in the Cloud: ServiceNow's Shopping Spree</li><li>Market Cap Calculator: How to Calculate Market Cap</li><li>The Contrarian Case for MSTR Amid MSCI Delisting Debacle</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9QUNWQQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9QUNWQQ"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in ACV Auctions Right Now?</h2><p>Before you consider ACV Auctions, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ACV Auctions wasn't on the list.</p><p>While ACV Auctions currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

ACVA

<p>Panagora Asset Management Inc. acquired 488,058 shares of ACV Auctions Inc., valued at $7,916,000, in Q2. Institutional investors hold 88.55% of ACV's stock. Analysts have mixed ratings, with a moderate buy consensus and an average price target of $12.25. Insider purchases include significant acquisitions by Directors Robert P. Goodman and Brian Hirsch. ACV's stock opened at $7.69, with a market cap of $1.32 billion.</p>

Panagora Asset Management Inc. Buys Shares of 488,058 ACV Auctions Inc. $ACVA