ACV Auctions Inc. $ACVA Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH decreased its position in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 66.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,156 shares of the company’s stock after selling 149,773 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in ACV Auctions were worth $735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ACVA. CWM LLC lifted its stake in ACV Auctions by 77.4% in the 2nd quarter. CWM LLC now owns 4,642 shares of the company’s stock valued at $75,000 after buying an additional 2,026 shares in the last quarter. Neo Ivy Capital Management purchased a new position in ACV Auctions during the second quarter worth about $87,000. State of Alaska Department of Revenue purchased a new position in shares of ACV Auctions during the 3rd quarter worth about $100,000. First Horizon Corp acquired a new position in shares of ACV Auctions in the 3rd quarter valued at $148,000. Finally, Olympiad Research LP purchased a new stake in ACV Auctions during the second quarter valued at about $164,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Jefferies Financial Group lowered ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 price target on the stock. in a research report on Thursday, December 11th. Barrington Research cut shares of ACV Auctions from an “outperform” rating to a “market perform” rating in a report on Thursday, November 6th. Citigroup cut their target price on ACV Auctions from $17.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Bank of America reissued an “underperform” rating and issued a $6.00 price objective (down from $16.50) on shares of ACV Auctions in a report on Thursday, November 6th. Finally, The Goldman Sachs Group decreased their target price on shares of ACV Auctions from $21.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.85.

ACV Auctions Stock Down 0.8%

Shares of ACV Auctions stock opened at $7.82 on Monday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The company has a market cap of $1.35 billion, a P/E ratio of -15.95 and a beta of 1.63. The stock has a 50-day moving average price of $8.19 and a 200 day moving average price of $9.67. ACV Auctions Inc. has a 1 year low of $4.95 and a 1 year high of $22.09.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $199.56 million during the quarter, compared to analysts’ expectations of $200.26 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%.The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share. As a group, analysts expect that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

Insider Activity

In related news, CEO George Chamoun purchased 31,172 shares of the stock in a transaction on Monday, December 15th. The shares were bought at an average price of $7.97 per share, for a total transaction of $248,440.84. Following the completion of the acquisition, the chief executive officer directly owned 2,618,714 shares in the company, valued at approximately $20,871,150.58. This trade represents a 1.20% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Hirsch acquired 80,571 shares of ACV Auctions stock in a transaction dated Friday, November 14th. The stock was purchased at an average price of $6.21 per share, with a total value of $500,345.91. Following the completion of the purchase, the director directly owned 99,678 shares of the company’s stock, valued at $619,000.38. The trade was a 421.68% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 1,038,437 shares of company stock valued at $5,993,255. Insiders own 2.90% of the company’s stock.

About ACV Auctions

ACV Auctions operates a digital marketplace that connects automotive dealers through a mobile-first platform for wholesale vehicle auctions. The company’s software enables dealers to list, inspect and bid on used vehicles in real time, leveraging smartphone-based condition reporting, high-resolution imagery and data analytics to streamline the buying and selling process. ACV Auctions also offers subscription-based access to its auction platform, supplemental reconditioning services and financing tools designed to help dealers optimize inventory turn and reduce risk.

Since its founding in 2014, ACV Auctions has expanded its technology offerings beyond core auction services to include dealer management integrations, transportation logistics coordination and title management solutions.