Bryce Point Capital LLC Buys Shares of 88,962 ACV Auctions Inc. (NASDAQ:ACVA)

Bryce Point Capital LLC purchased a new position in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 88,962 shares of the company's stock, valued at approximately $1,922,000. ACV Auctions accounts for approximately 0.6% of Bryce Point Capital LLC's investment portfolio, making the stock its 16th biggest position. Bryce Point Capital LLC owned about 0.05% of ACV Auctions as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on ACVA. JMP Securities restated a "market outperform" rating and set a $25.00 price objective on shares of ACV Auctions in a report on Monday, December 16th. Needham & Company LLC restated a "buy" rating and issued a $25.00 target price on shares of ACV Auctions in a report on Wednesday, March 12th. Stephens raised shares of ACV Auctions to a "hold" rating in a research report on Saturday, February 1st. Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. dropped their target price on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $23.14.

Insider Activity at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $13.53, for a total value of $202,950.00. Following the sale, the chief financial officer now directly owns 766,266 shares in the company, valued at $10,367,578.98. This represents a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Waterman sold 30,162 shares of the firm's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total transaction of $619,225.86. Following the completion of the transaction, the insider now directly 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. Over the last quarter, insiders have sold 423,411 shares of company stock worth $6,776,916. Insiders own 8.50% of the company's stock.

ACV Auctions Stock Performance

NASDAQ:ACVA traded down $0.19 during trading on Monday, reaching $13.12. The company's stock had a trading volume of 1,870,506 shares, compared to its average volume of 1,505,796. ACV Auctions Inc. has a 12 month low of $11.88 and a 12 month high of $23.46. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -26.80 and a beta of 1.74. The firm has a 50 day moving average of $17.30 and a 200-day moving average of $19.38. 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 posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $159.51 million during the quarter, compared to analyst estimates of $156.77 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. Research analysts expect that ACV Auctions Inc. will post -0.07 EPS 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.