Trexquant Investment LP Acquires Shares of 178,654 ACV Auctions Inc. (NASDAQ:ACVA)

Trexquant Investment LP acquired a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 178,654 shares of the company's stock, valued at approximately $3,859,000. Trexquant Investment LP owned 0.11% of ACV Auctions at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in ACV Auctions by 65.8% in the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock valued at $48,000 after purchasing an additional 933 shares in the last quarter. KBC Group NV raised its position in shares of ACV Auctions by 80.4% in the 4th quarter. KBC Group NV now owns 7,406 shares of the company's stock valued at $160,000 after buying an additional 3,300 shares in the last quarter. LPL Financial LLC bought a new stake in shares of ACV Auctions during the 4th quarter worth approximately $226,000. Xponance Inc. acquired a new stake in shares of ACV Auctions during the 4th quarter worth approximately $229,000. Finally, Versor Investments LP bought a new position in ACV Auctions in the fourth quarter valued at approximately $262,000. 88.55% of the stock is owned by institutional investors and hedge funds.

ACV Auctions Trading Up 2.0 %

ACVA traded up $0.29 during trading on Friday, hitting $14.28. The company's stock had a trading volume of 3,085,893 shares, compared to its average volume of 1,557,103. The firm has a market capitalization of $2.41 billion, a P/E ratio of -29.13 and a beta of 1.74. ACV Auctions Inc. has a twelve month low of $11.88 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's fifty day moving average price is $16.27 and its 200-day moving average price is $19.06.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last issued its earnings results 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 business had revenue of $159.51 million for the quarter, compared to analyst estimates of $156.77 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. Analysts anticipate that ACV Auctions Inc. will post -0.07 EPS for the current year.

Analyst Upgrades and Downgrades

ACVA has been the subject of several research analyst reports. Stephens raised ACV Auctions to a "hold" rating in a research note on Saturday, February 1st. Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, March 12th. Needham & Company LLC reiterated a "buy" rating and set a $25.00 price target on shares of ACV Auctions in a report on Wednesday, March 12th. Piper Sandler raised shares of ACV Auctions from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $18.00 to $20.00 in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. lowered their target price on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Two research 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 stock currently has an average rating of "Moderate Buy" and an average target price of $22.50.

Insider Buying and Selling

In other ACV Auctions news, CEO George Chamoun sold 348,249 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer now directly owns 2,821,193 shares of the company's stock, valued at approximately $43,277,100.62. This trade represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Waterman sold 15,000 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.27, for a total transaction of $304,050.00. Following the sale, the insider now directly owns 311,354 shares of the company's stock, valued at approximately $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. In the last three months, insiders have sold 378,249 shares of company stock valued at $5,849,140. 8.50% of the stock is owned by company insiders.

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.