Barclays PLC Raises Stock Position in ACV Auctions Inc. (NASDAQ:ACVA)

Barclays PLC increased its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 266,951 shares of the company's stock after acquiring an additional 21,952 shares during the period. Barclays PLC owned approximately 0.16% of ACV Auctions worth $5,766,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ACVA. Blue Trust Inc. increased its holdings in shares of ACV Auctions by 65.8% in the fourth 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 raised its holdings in shares of ACV Auctions by 80.4% in the 4th quarter. KBC Group NV now owns 7,406 shares of the company's stock valued at $160,000 after acquiring an additional 3,300 shares in the last quarter. LPL Financial LLC bought a new stake in shares of ACV Auctions during the 4th quarter valued at about $226,000. Xponance Inc. purchased a new position in shares of ACV Auctions during the fourth quarter worth about $229,000. Finally, Versor Investments LP bought a new position in shares of ACV Auctions in the fourth quarter worth approximately $262,000. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ACV Auctions

In related news, CFO William Zerella sold 15,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 766,266 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Chamoun sold 348,249 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $15.34, for a total transaction of $5,342,139.66. Following the transaction, the chief executive officer now directly owns 2,821,193 shares in the company, valued at approximately $43,277,100.62. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 378,249 shares of company stock worth $5,849,140. Company insiders own 8.50% of the company's stock.

ACV Auctions Price Performance

Shares of ACV Auctions stock opened at $14.77 on Friday. The stock has a market capitalization of $2.49 billion, a P/E ratio of -30.13 and a beta of 1.74. ACV Auctions Inc. has a one year low of $11.88 and a one year high of $23.46. 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 business's 50 day simple moving average is $14.87 and its two-hundred day simple moving average is $18.70.

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, topping the consensus estimate of ($0.15) by $0.01. The company had revenue of $159.51 million for the quarter, compared to the consensus estimate of $156.77 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. Analysts forecast that ACV Auctions Inc. will post -0.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ACVA shares. JMP Securities cut their price target on shares of ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and reduced their target price for the company from $22.00 to $20.00 in a research note on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price target on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Piper Sandler upgraded ACV Auctions from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $18.00 to $20.00 in a research report on Thursday, March 20th. Finally, Needham & Company LLC restated a "buy" rating and issued a $25.00 target price on shares of ACV Auctions in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, ACV Auctions presently has an average rating of "Moderate Buy" and an average price target of $22.50.

About ACV Auctions

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.

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