ACV Auctions Inc. (NASDAQ:ACVA) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG raised its stake in ACV Auctions Inc. (NASDAQ:ACVA) by 28.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 264,680 shares of the company’s stock after purchasing an additional 59,089 shares during the quarter. Deutsche Bank AG’s holdings in ACV Auctions were worth $5,717,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in ACV Auctions by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 14,245,915 shares of the company’s stock worth $307,712,000 after acquiring an additional 738,391 shares during the period. William Blair Investment Management LLC grew its position in shares of ACV Auctions by 43.2% in the fourth quarter. William Blair Investment Management LLC now owns 12,099,686 shares of the company’s stock valued at $261,353,000 after purchasing an additional 3,652,871 shares during the period. Alliancebernstein L.P. increased its stake in ACV Auctions by 5.3% in the fourth quarter. Alliancebernstein L.P. now owns 5,622,255 shares of the company’s stock valued at $121,441,000 after purchasing an additional 284,880 shares during the last quarter. Jennison Associates LLC increased its stake in ACV Auctions by 17.2% in the fourth quarter. Jennison Associates LLC now owns 4,980,354 shares of the company’s stock valued at $107,576,000 after purchasing an additional 732,422 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in ACV Auctions by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 3,575,347 shares of the company’s stock worth $77,246,000 after buying an additional 58,259 shares during the period. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ACV Auctions

In other news, CFO William Zerella sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $13.53, for a total transaction of $202,950.00. Following the transaction, the chief financial officer now directly owns 766,266 shares of the company’s stock, valued at approximately $10,367,578.98. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Waterman sold 223,330 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $17.00, for a total transaction of $3,796,610.00. Following the sale, the insider now directly owns 466,548 shares of the company’s stock, valued at approximately $7,931,316. The trade was a 32.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 586,579 shares of company stock valued at $9,341,700 over the last quarter. Company insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ACVA shares. Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of ACV Auctions in a report on Thursday, May 8th. Bank of America upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and lowered their target price for the company from $22.00 to $20.00 in a report on Wednesday, March 12th. Stephens raised shares of ACV Auctions to a “hold” rating in a research report 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 research note on Thursday, March 27th. Finally, JMP Securities lowered their price objective on shares of ACV Auctions from $22.00 to $18.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, ACV Auctions presently has an average rating of “Moderate Buy” and an average target price of $22.50.

ACV Auctions Trading Up 0.6%

Shares of ACVA stock opened at $17.03 on Monday. ACV Auctions Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $23.46. The firm’s 50 day moving average price is $14.86 and its two-hundred day moving average price is $18.45. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -34.75 and a beta of 1.72. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. During the same quarter in the previous year, the firm earned ($0.13) EPS. The company’s quarterly revenue was up 25.4% on a year-over-year basis. On average, analysts anticipate that ACV Auctions Inc. will post -0.07 EPS for the current 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.