ACV Auctions Inc. (NASDAQ:ACVA) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC boosted its stake in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 55.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,395 shares of the company's stock after acquiring an additional 22,310 shares during the period. Intech Investment Management LLC's holdings in ACV Auctions were worth $1,348,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings 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 purchasing an additional 933 shares during the last quarter. KBC Group NV increased its position in ACV Auctions by 80.4% during the fourth quarter. KBC Group NV now owns 7,406 shares of the company's stock worth $160,000 after buying an additional 3,300 shares during the period. Icon Wealth Advisors LLC lifted its stake in ACV Auctions by 13.5% in the third quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company's stock valued at $225,000 after buying an additional 1,317 shares during the last quarter. Versor Investments LP acquired a new stake in shares of ACV Auctions in the fourth quarter valued at approximately $262,000. Finally, Cibc World Markets Corp purchased a new position in shares of ACV Auctions during the fourth quarter worth approximately $299,000. Institutional investors and hedge funds own 88.55% of the company's stock.

Analyst Ratings Changes

ACVA has been the subject of several research reports. B. Riley upped their price target 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. Stephens upgraded shares of ACV Auctions to a "hold" rating in a research note on Saturday, February 1st. Piper Sandler raised ACV Auctions from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $18.00 to $20.00 in a report on Thursday, March 20th. Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, March 12th. Finally, Citigroup boosted their target price on ACV Auctions from $22.00 to $27.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $23.23.

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Insider Buying and Selling

In related news, CEO George Chamoun sold 348,249 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $15.34, for a total value of $5,342,139.66. Following the sale, the chief executive officer now directly owns 2,821,193 shares in the company, valued at $43,277,100.62. The trade was a 10.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William Zerella sold 15,000 shares of the firm's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.57, for a total transaction of $308,550.00. Following the transaction, the chief financial officer now owns 462,452 shares of the company's stock, valued at $9,512,637.64. This trade represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 455,911 shares of company stock worth $7,480,541 in the last quarter. Company insiders own 8.50% of the company's stock.

ACV Auctions Price Performance

ACVA stock traded down $1.02 on Wednesday, reaching $15.35. 2,260,290 shares of the company's stock were exchanged, compared to its average volume of 1,399,738. ACV Auctions Inc. has a twelve month low of $12.77 and a twelve month high of $23.46. 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 stock has a fifty day moving average of $18.46 and a 200-day moving average of $19.69. The firm has a market cap of $2.59 billion, a PE ratio of -31.32 and a beta of 1.73.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 12.51% and a negative return on equity of 12.94%. As a group, equities 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.