Ieq Capital LLC Makes New Investment in ACV Auctions Inc. (NASDAQ:ACVA)

Ieq Capital LLC purchased a new stake in ACV Auctions Inc. (NASDAQ:ACVAFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,456 shares of the company’s stock, valued at approximately $249,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in ACV Auctions by 8.6% in the third quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company’s stock valued at $194,445,000 after purchasing an additional 1,010,941 shares during the last quarter. FMR LLC boosted its position in ACV Auctions by 9.4% during the 3rd quarter. FMR LLC now owns 11,763,945 shares of the company’s stock worth $178,577,000 after buying an additional 1,011,236 shares during the period. Atreides Management LP grew its holdings in ACV Auctions by 5.8% during the 3rd quarter. Atreides Management LP now owns 10,829,070 shares of the company’s stock worth $164,385,000 after acquiring an additional 594,347 shares during the last quarter. William Blair Investment Management LLC increased its position in ACV Auctions by 8.7% in the 3rd quarter. William Blair Investment Management LLC now owns 4,369,867 shares of the company’s stock valued at $66,335,000 after acquiring an additional 350,865 shares during the period. Finally, Jennison Associates LLC increased its position in ACV Auctions by 9.7% in the 4th quarter. Jennison Associates LLC now owns 3,561,009 shares of the company’s stock valued at $53,949,000 after acquiring an additional 313,856 shares during the period. 88.55% of the stock is owned by institutional investors.

Insider Transactions at ACV Auctions

In related news, COO Vikas Mehta sold 200,000 shares of ACV Auctions stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $16.48, for a total value of $3,296,000.00. Following the completion of the sale, the chief operating officer now owns 319,036 shares of the company’s stock, valued at approximately $5,257,713.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other ACV Auctions news, COO Vikas Mehta sold 200,000 shares of ACV Auctions stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $16.48, for a total transaction of $3,296,000.00. Following the completion of the transaction, the chief operating officer now owns 319,036 shares in the company, valued at approximately $5,257,713.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Hirsch sold 241,455 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $18.31, for a total value of $4,421,041.05. Following the sale, the director now directly owns 301,258 shares of the company’s stock, valued at $5,516,033.98. The disclosure for this sale can be found here. Insiders have sold 1,475,208 shares of company stock valued at $26,669,099 over the last ninety days. 8.50% of the stock is owned by company insiders.

ACV Auctions Trading Up 2.1 %

NASDAQ:ACVA opened at $18.62 on Friday. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $19.54. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of -38.79 and a beta of 1.56. The firm has a fifty day simple moving average of $18.01 and a two-hundred day simple moving average of $15.97.

ACV Auctions (NASDAQ:ACVAGet Free Report) last issued its earnings results on Wednesday, February 21st. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.01. ACV Auctions had a negative return on equity of 13.50% and a negative net margin of 15.28%. The company had revenue of $118.38 million during the quarter, compared to the consensus estimate of $117.62 million. Analysts expect that ACV Auctions Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ACVA has been the topic of several analyst reports. JMP Securities boosted their price objective on shares of ACV Auctions from $19.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 9th. Barrington Research reiterated an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a research report on Monday, May 13th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Thursday. Finally, Piper Sandler lifted their price objective on ACV Auctions from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Three 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.36.

View Our Latest Analysis on ACV Auctions

About ACV Auctions

(Free Report)

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.

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Institutional Ownership by Quarter for ACV Auctions (NASDAQ:ACVA)

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