ACV Auctions Inc. (NASDAQ:ACVA) Shares Sold by Arvin Capital Management LP

Arvin Capital Management LP cut its holdings in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 84.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,130 shares of the company's stock after selling 342,131 shares during the quarter. ACV Auctions accounts for 0.4% of Arvin Capital Management LP's portfolio, making the stock its 29th biggest holding. Arvin Capital Management LP's holdings in ACV Auctions were worth $1,407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ACVA. Blue Trust Inc. grew its stake in shares of ACV Auctions by 65.8% during the 4th quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock worth $48,000 after purchasing an additional 933 shares during the period. KBC Group NV grew its position in ACV Auctions by 80.4% during the fourth quarter. KBC Group NV now owns 7,406 shares of the company's stock worth $160,000 after buying an additional 3,300 shares during the period. LPL Financial LLC purchased a new position in ACV Auctions in the fourth quarter valued at about $226,000. Xponance Inc. acquired a new stake in shares of ACV Auctions during the 4th quarter valued at approximately $229,000. Finally, Versor Investments LP acquired a new stake in shares of ACV Auctions in the 4th quarter worth approximately $262,000. Institutional investors and hedge funds own 88.55% of the company's stock.

Wall Street Analysts Forecast Growth

ACVA has been the topic of a number of research analyst reports. Stephens upgraded ACV Auctions to a "hold" rating in a research report on Saturday, February 1st. JMP Securities reduced their target price on ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $22.00 to $20.00 in a research report on Wednesday, March 12th. Needham & Company LLC restated a "buy" rating and issued a $25.00 price objective on shares of ACV Auctions in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. cut their target price on shares of ACV Auctions from $24.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.50.

Insider Activity

In other news, CEO George Chamoun sold 348,249 shares of ACV Auctions stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $15.34, for a total transaction of $5,342,139.66. Following the sale, the chief executive officer now directly owns 2,821,193 shares of the company's stock, valued at approximately $43,277,100.62. The trade was a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William Zerella sold 15,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $13.53, for a total value of $202,950.00. Following the completion of the transaction, the chief financial officer now directly owns 766,266 shares of the company's stock, valued at $10,367,578.98. This represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 378,249 shares of company stock worth $5,849,140. 8.50% of the stock is currently owned by corporate insiders.

ACV Auctions Trading Up 2.2 %

Shares of NASDAQ:ACVA traded up $0.32 during trading on Thursday, reaching $14.76. 2,759,286 shares of the stock were exchanged, compared to its average volume of 1,604,568. The firm's 50-day moving average price is $15.00 and its 200 day moving average price is $18.73. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -30.11 and a beta of 1.74. ACV Auctions Inc. has a 12-month low of $11.88 and a 12-month high of $23.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The business had revenue of $159.51 million for the quarter, compared to the consensus estimate of $156.77 million. On average, sell-side analysts anticipate that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal year.

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.