ACV Auctions Inc. (NASDAQ:ACVA) Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 54.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 366,200 shares of the company's stock after selling 432,474 shares during the quarter. Royce & Associates LP owned approximately 0.22% of ACV Auctions worth $7,910,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of ACV Auctions by 65.8% during the 4th quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock worth $48,000 after buying an additional 933 shares during the last quarter. KBC Group NV lifted its position 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 last quarter. Icon Wealth Advisors LLC boosted 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 acquiring an additional 1,317 shares in the last quarter. Versor Investments LP purchased a new position in shares of ACV Auctions during the fourth quarter worth about $262,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of ACV Auctions during the third quarter worth about $315,000. 88.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO George Chamoun sold 348,249 shares of the firm's 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 $43,277,100.62. This trade represents a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO William Zerella sold 15,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was 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 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. Over the last three months, insiders have sold 455,911 shares of company stock worth $7,480,541. 8.50% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ACVA. Piper Sandler upgraded 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 research note on Thursday. Needham & Company LLC restated a "buy" rating and set a $25.00 target price on shares of ACV Auctions in a research report on Wednesday, March 12th. 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. Citigroup increased their price target on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Finally, Stephens upgraded shares of ACV Auctions to a "hold" rating in a research note on Saturday, February 1st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $23.23.

ACV Auctions Stock Performance

Shares of ACVA stock traded down $0.38 during trading hours on Friday, reaching $15.31. 4,987,563 shares of the company's stock were exchanged, compared to its average volume of 1,389,877. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. The company's 50 day moving average is $18.65 and its two-hundred day moving average is $19.70. The company has a market cap of $2.58 billion, a P/E ratio of -31.24 and a beta of 1.73. ACV Auctions Inc. has a 1 year low of $12.77 and a 1 year high of $23.46.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. The firm had revenue of $159.51 million during the quarter, compared to analysts' expectations of $156.77 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. Equities research analysts anticipate that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

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.