Axiom Investors LLC DE Has $6.77 Million Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Axiom Investors LLC DE grew its position in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 14.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 313,285 shares of the company's stock after purchasing an additional 39,315 shares during the period. Axiom Investors LLC DE owned approximately 0.19% of ACV Auctions worth $6,767,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of ACV Auctions in the fourth quarter worth $4,704,000. Intech Investment Management LLC lifted its holdings in ACV Auctions by 55.7% during the 4th quarter. Intech Investment Management LLC now owns 62,395 shares of the company's stock worth $1,348,000 after purchasing an additional 22,310 shares during the last quarter. Moody National Bank Trust Division boosted its stake in ACV Auctions by 64.6% in the 4th quarter. Moody National Bank Trust Division now owns 79,199 shares of the company's stock valued at $1,711,000 after purchasing an additional 31,094 shares during the period. Quadrature Capital Ltd acquired a new position in ACV Auctions in the 3rd quarter valued at $566,000. Finally, Charles Schwab Investment Management Inc. increased its position in ACV Auctions by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,289,362 shares of the company's stock worth $27,850,000 after buying an additional 48,021 shares during the period. 88.55% of the stock is owned by institutional investors and hedge funds.

ACV Auctions Price Performance

ACVA stock traded down $1.40 during midday trading on Thursday, reaching $13.74. 1,645,174 shares of the stock were exchanged, compared to its average volume of 2,140,346. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $2.32 billion, a PE ratio of -28.03 and a beta of 1.73. ACV Auctions Inc. has a 52 week low of $12.77 and a 52 week high of $23.46. The company has a fifty day moving average price of $17.63 and a 200 day moving average price of $19.48.

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

Analysts Set New Price Targets

Several brokerages have weighed in on ACVA. Piper Sandler upgraded shares of ACV Auctions from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $18.00 to $20.00 in a research note on Thursday, March 20th. Bank of America upgraded shares of ACV Auctions from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, March 12th. JMP Securities restated a "market outperform" rating and issued a $25.00 target price on shares of ACV Auctions in a research report on Monday, December 16th. Needham & Company LLC reiterated a "buy" rating and set a $25.00 price target on shares of ACV Auctions in a research report on Wednesday, March 12th. Finally, Stephens upgraded shares of ACV Auctions to a "hold" rating in a research report on Saturday, February 1st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $23.14.

Insider Buying and Selling

In other news, CFO William Zerella sold 15,000 shares of ACV Auctions stock in a transaction dated Tuesday, March 11th. The stock was 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 approximately $10,367,578.98. This trade represents a 1.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Waterman sold 30,162 shares of ACV Auctions stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total value of $619,225.86. Following the completion of the sale, the insider now owns 314,738 shares of the company's stock, valued at approximately $6,461,571.14. The trade was a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 423,411 shares of company stock valued at $6,776,916 over the last quarter. Insiders own 8.50% of the company's stock.

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.