Charles Schwab Investment Management Inc. Purchases 48,021 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Charles Schwab Investment Management Inc. increased its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,289,362 shares of the company's stock after buying an additional 48,021 shares during the period. Charles Schwab Investment Management Inc. owned 0.77% of ACV Auctions worth $27,850,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of ACV Auctions by 4.9% during the 3rd quarter. Principal Financial Group Inc. now owns 64,925 shares of the company's stock valued at $1,320,000 after acquiring an additional 3,022 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of ACV Auctions during the third quarter worth $562,000. Jennison Associates LLC increased its holdings in ACV Auctions by 6.8% in the third quarter. Jennison Associates LLC now owns 4,247,932 shares of the company's stock valued at $86,360,000 after purchasing an additional 271,970 shares during the last quarter. Intech Investment Management LLC acquired a new position in ACV Auctions in the third quarter valued at about $815,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in ACV Auctions by 11.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company's stock worth $175,969,000 after buying an additional 897,477 shares during the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

ACVA has been the subject of several recent analyst reports. Stephens raised shares of ACV Auctions to a "hold" rating in a research note on Saturday, February 1st. B. Riley upped their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Needham & Company LLC reiterated a "buy" rating and set a $25.00 target price on shares of ACV Auctions in a report on Wednesday, March 12th. Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and decreased their target price for the company from $22.00 to $20.00 in a research note on Wednesday, March 12th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $25.00 price target on shares of ACV Auctions in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.23.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the company's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $21.65, for a total value of $703,625.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares in the company, valued at approximately $10,618,935.30. This represents a 6.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Waterman sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total value of $304,050.00. Following the completion of the sale, the insider now owns 311,354 shares of the company's stock, valued at $6,311,145.58. The trade was a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,662 shares of company stock worth $2,138,401. 8.50% of the stock is currently owned by insiders.

ACV Auctions Price Performance

Shares of NASDAQ:ACVA traded down $0.36 during midday trading on Friday, hitting $15.33. The stock had a trading volume of 2,938,256 shares, compared to its average volume of 1,392,269. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.59 billion, a P/E ratio of -31.28 and a beta of 1.73. The company's 50-day moving average price is $18.76 and its 200-day moving average price is $19.72. ACV Auctions Inc. has a fifty-two week low of $12.77 and a fifty-two week high of $23.46.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last announced 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 business had revenue of $159.51 million during the quarter, compared to the consensus estimate of $156.77 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. As a group, equities research analysts predict that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

ACV Auctions Company 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.