Axiom Investors LLC DE Buys 39,315 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

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

A number of other institutional investors also recently modified their holdings of ACVA. Blue Trust Inc. raised its holdings in shares of ACV Auctions by 65.8% during the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock worth $48,000 after acquiring an additional 933 shares in the last quarter. Icon Wealth Advisors LLC raised its stake in shares of ACV Auctions by 13.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company's stock worth $225,000 after purchasing an additional 1,317 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of ACV Auctions by 3.6% during the 4th quarter. Arizona State Retirement System now owns 44,126 shares of the company's stock valued at $953,000 after buying an additional 1,520 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of ACV Auctions by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 40,935 shares of the company's stock valued at $768,000 after buying an additional 2,057 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of ACV Auctions by 6.0% in the 4th quarter. Handelsbanken Fonder AB now owns 44,000 shares of the company's stock valued at $950,000 after buying an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company's stock.

Analyst Ratings Changes

ACVA has been the subject of a number of analyst reports. Piper Sandler upgraded shares of ACV Auctions from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $18.00 to $20.00 in a research note on Thursday, March 20th. JMP Securities restated a "market outperform" rating and issued a $25.00 target price on shares of ACV Auctions in a report on Monday, December 16th. Stephens upgraded ACV Auctions to a "hold" rating in a report on Saturday, February 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price objective on shares of ACV Auctions in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of ACV Auctions from $24.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $23.14.

ACV Auctions Price Performance

Shares of ACV Auctions stock traded down $0.76 during mid-day trading on Friday, reaching $12.83. 2,523,076 shares of the stock were exchanged, compared to its average volume of 1,492,301. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -25.92 and a beta of 1.73. ACV Auctions Inc. has a fifty-two week low of $11.89 and a fifty-two week high of $23.46. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The firm has a 50-day simple moving average of $17.46 and a 200 day simple moving average of $19.44.

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

Insider Transactions at ACV Auctions

In other news, CFO William Zerella sold 15,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $13.53, for a total transaction of $202,950.00. Following the transaction, the chief financial officer now owns 766,266 shares of the company's stock, valued at $10,367,578.98. This represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Waterman sold 30,162 shares of the firm's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total value of $619,225.86. Following the completion of the transaction, the insider now owns 314,738 shares in the company, valued at approximately $6,461,571.14. This represents a 8.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 423,411 shares of company stock worth $6,776,916. Corporate 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.