Loomis Sayles & Co. L P Sells 77,653 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Loomis Sayles & Co. L P lessened its stake in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,657,402 shares of the company's stock after selling 77,653 shares during the period. Loomis Sayles & Co. L P owned about 1.59% of ACV Auctions worth $57,400,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ACVA. Blue Trust Inc. boosted its position in ACV Auctions by 65.8% during the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock valued at $48,000 after acquiring an additional 933 shares during the last quarter. KBC Group NV boosted its position in shares of ACV Auctions by 80.4% during the 4th quarter. KBC Group NV now owns 7,406 shares of the company's stock valued at $160,000 after purchasing an additional 3,300 shares in the last quarter. Icon Wealth Advisors LLC grew its stake in ACV Auctions by 13.5% during the third quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company's stock worth $225,000 after purchasing an additional 1,317 shares during the period. LPL Financial LLC bought a new stake in ACV Auctions in the fourth quarter worth approximately $226,000. Finally, Xponance Inc. acquired a new position in shares of ACV Auctions during the 4th quarter valued at $229,000. Institutional investors own 88.55% of the company's stock.

Insider Buying and Selling at ACV Auctions

In related news, insider Michael Waterman sold 30,162 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was 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 in the company, valued at $6,461,571.14. The trade was a 8.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William Zerella sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $13.53, for a total transaction of $202,950.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 423,411 shares of company stock valued at $6,776,916 in the last three months. Company insiders own 8.50% of the company's stock.

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ACV Auctions Stock Performance

Shares of ACVA traded down $0.21 during mid-day trading on Monday, hitting $13.93. The stock had a trading volume of 906,106 shares, compared to its average volume of 1,469,988. ACV Auctions Inc. has a 52 week low of $12.77 and a 52 week high of $23.46. The business has a fifty day moving average price of $18.06 and a 200-day moving average price of $19.59. The firm has a market cap of $2.35 billion, a P/E ratio of -28.45 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56.

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. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. The business had revenue of $159.51 million during the quarter, compared to the consensus estimate of $156.77 million. On average, equities research analysts expect that ACV Auctions Inc. will post -0.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Stephens upgraded ACV Auctions to a "hold" rating in a research note on Saturday, February 1st. Bank of America raised shares of ACV Auctions from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price objective on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday. Piper Sandler raised ACV Auctions from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $18.00 to $20.00 in a research report on Thursday, March 20th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $25.00 price target 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 company's stock. Based on data from MarketBeat.com, ACV Auctions currently has an average rating of "Moderate Buy" and a consensus price target of $23.14.

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.