ACV Auctions Inc. (NASDAQ:ACVA) Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 296,765 shares of the company's stock after selling 27,998 shares during the quarter. Invesco Ltd. owned about 0.18% of ACV Auctions worth $6,410,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ACVA. William Blair Investment Management LLC raised its stake in shares of ACV Auctions by 43.2% in the 4th quarter. William Blair Investment Management LLC now owns 12,099,686 shares of the company's stock valued at $261,353,000 after acquiring an additional 3,652,871 shares during the period. Franklin Resources Inc. raised its position in ACV Auctions by 2,346.2% in the fourth quarter. Franklin Resources Inc. now owns 1,001,365 shares of the company's stock valued at $21,629,000 after purchasing an additional 960,430 shares during the period. Vanguard Group Inc. lifted its stake in ACV Auctions by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 14,245,915 shares of the company's stock worth $307,712,000 after purchasing an additional 738,391 shares in the last quarter. Jennison Associates LLC boosted its position in shares of ACV Auctions by 17.2% during the fourth quarter. Jennison Associates LLC now owns 4,980,354 shares of the company's stock worth $107,576,000 after buying an additional 732,422 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of ACV Auctions by 61.3% in the fourth quarter. Wellington Management Group LLP now owns 1,708,551 shares of the company's stock valued at $36,905,000 after buying an additional 649,039 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ACVA. Bank of America raised shares of ACV Auctions from a "neutral" rating to a "buy" rating and cut their target price for the stock from $22.00 to $20.00 in a research note on Wednesday, March 12th. 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 note on Thursday, March 20th. JMP Securities lowered their target price on 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. Stephens raised ACV Auctions to a "hold" rating in a research report on Saturday, February 1st. Finally, Needham & Company LLC reissued a "buy" rating and set a $25.00 price objective on shares of ACV Auctions in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, ACV Auctions currently has an average rating of "Moderate Buy" and a consensus price target of $22.50.

Insider Transactions at ACV Auctions

In other ACV Auctions news, CEO George Chamoun sold 348,249 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $15.34, for a total value of $5,342,139.66. Following the completion of the transaction, the chief executive officer now owns 2,821,193 shares in the company, valued at approximately $43,277,100.62. This represents a 10.99 % decrease in their ownership of the stock. The transaction 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 business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $20.27, for a total value of $304,050.00. Following the sale, the insider now directly owns 311,354 shares in the company, valued at $6,311,145.58. This trade represents a 4.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 378,249 shares of company stock worth $5,849,140. Company insiders own 8.50% of the company's stock.

ACV Auctions Stock Performance

Shares of ACVA traded up $0.25 during mid-day trading on Tuesday, hitting $15.00. 1,387,258 shares of the company's stock were exchanged, compared to its average volume of 1,608,275. The firm has a market capitalization of $2.53 billion, a P/E ratio of -30.60 and a beta of 1.74. ACV Auctions Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $23.46. The business's 50 day moving average is $14.75 and its two-hundred day moving average is $18.67. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last announced its 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. 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 the consensus estimate of $156.77 million. On average, equities analysts expect that ACV Auctions Inc. will post -0.07 earnings per share for the current 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.