10,582 Shares in ACV Auctions Inc. (NASDAQ:ACVA) Purchased by Xponance Inc.

Xponance Inc. acquired a new stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 10,582 shares of the company’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ACVA. Raymond James Financial Inc. purchased a new position in ACV Auctions during the fourth quarter valued at $4,704,000. Intech Investment Management LLC grew its holdings in ACV Auctions by 55.7% in the fourth quarter. Intech Investment Management LLC now owns 62,395 shares of the company’s stock worth $1,348,000 after purchasing an additional 22,310 shares during the period. Moody National Bank Trust Division increased its stake in shares of ACV Auctions by 64.6% during the fourth quarter. Moody National Bank Trust Division now owns 79,199 shares of the company’s stock valued at $1,711,000 after purchasing an additional 31,094 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of ACV Auctions during the third quarter valued at approximately $566,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of ACV Auctions by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,289,362 shares of the company’s stock worth $27,850,000 after purchasing an additional 48,021 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Insiders Place Their Bets

In related news, CEO George Chamoun sold 348,249 shares of ACV Auctions stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $15.34, for a total transaction of $5,342,139.66. Following the completion of 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. The trade was a 10.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William Zerella sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.57, for a total value of $308,550.00. Following the transaction, the chief financial officer now owns 462,452 shares of the company’s stock, valued at $9,512,637.64. This trade represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 455,911 shares of company stock valued at $7,480,541 over the last ninety days. 8.50% of the stock is owned by insiders.

ACV Auctions Trading Down 3.3 %

Shares of ACVA opened at $14.11 on Friday. ACV Auctions Inc. has a fifty-two week low of $12.77 and a fifty-two week high of $23.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. The company’s fifty day moving average is $18.06 and its 200 day moving average is $19.59. The stock has a market capitalization of $2.38 billion, a PE ratio of -28.80 and a beta of 1.73.

ACV Auctions (NASDAQ:ACVA) last posted its earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The firm had revenue of $159.51 million for the quarter, compared to the consensus estimate of $156.77 million. Sell-side analysts expect that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JMP Securities restated a “market outperform” rating and set a $25.00 price target on shares of ACV Auctions in a report on Monday, December 16th. Bank of America upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, March 12th. Stephens upgraded shares of ACV Auctions to a “hold” rating in a research note on Saturday, February 1st. JPMorgan Chase & Co. cut their price target on shares of ACV Auctions from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Piper Sandler upgraded 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 report on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus 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.