ACV Auctions Inc. (NASDAQ:ACVA) Stock Holdings Lessened by Cwm LLC

Cwm LLC trimmed its stake in ACV Auctions Inc. (NASDAQ:ACVA) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 219,058 shares of the company’s stock after selling 12,647 shares during the quarter. Cwm LLC owned 0.14% of ACV Auctions worth $3,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in ACVA. Park Place Capital Corp lifted its position in shares of ACV Auctions by 83.2% in the third quarter. Park Place Capital Corp now owns 2,180 shares of the company’s stock worth $33,000 after purchasing an additional 990 shares in the last quarter. Parkside Financial Bank & Trust bought a new position in ACV Auctions during the third quarter valued at approximately $66,000. Allspring Global Investments Holdings LLC bought a new position in ACV Auctions during the third quarter valued at approximately $72,000. Versor Investments LP raised its position in ACV Auctions by 19.5% during the third quarter. Versor Investments LP now owns 11,974 shares of the company’s stock valued at $182,000 after acquiring an additional 1,950 shares in the last quarter. Finally, Greycroft LP bought a new position in ACV Auctions during the third quarter valued at approximately $231,000. 88.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ACV Auctions

In other news, insider Craig Eric Anderson sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $18.00, for a total value of $90,000.00. Following the sale, the insider now owns 202,797 shares in the company, valued at $3,650,346. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other ACV Auctions news, Director Brian Hirsch sold 38,763 shares of ACV Auctions stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $18.24, for a total transaction of $707,037.12. Following the sale, the director now owns 378,390 shares in the company, valued at $6,901,833.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Eric Anderson sold 5,000 shares of ACV Auctions stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $18.00, for a total transaction of $90,000.00. Following the sale, the insider now owns 202,797 shares in the company, valued at approximately $3,650,346. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,507,708 shares of company stock worth $27,126,374. Insiders own 13.67% of the company’s stock.

ACV Auctions Trading Down 2.1 %

NASDAQ:ACVA opened at $17.96 on Thursday. ACV Auctions Inc. has a 12 month low of $11.93 and a 12 month high of $19.54. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -39.04 and a beta of 1.57. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $17.62 and its 200-day moving average is $15.53.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. The business had revenue of $118.38 million for the quarter, compared to the consensus estimate of $117.62 million. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. Equities analysts anticipate that ACV Auctions Inc. will post -0.29 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on ACVA. Northcoast Research raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Wednesday, January 10th. JMP Securities reaffirmed a “market outperform” rating and set a $19.00 price objective on shares of ACV Auctions in a research report on Wednesday, April 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Thursday, February 22nd. Two equities 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.21.

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.