ACV Auctions (NYSE:ACVA) Trading Up 5.4% – Time to Buy?

Shares of ACV Auctions Inc. (NYSE:ACVA) shot up 5.4% during trading on Monday . The stock traded as high as $4.54 and last traded at $4.5970. 258,843 shares changed hands during trading, a decline of 92% from the average session volume of 3,196,645 shares. The stock had previously closed at $4.36.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ACVA shares. Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of ACV Auctions in a report on Tuesday, February 24th. Citigroup downgraded ACV Auctions from a “buy” rating to a “neutral” rating and dropped their price target for the company from $13.00 to $7.00 in a research note on Tuesday, February 24th. Weiss Ratings restated a “sell (e+)” rating on shares of ACV Auctions in a report on Friday, March 27th. Wall Street Zen upgraded ACV Auctions from a “sell” rating to a “hold” rating in a report on Sunday, February 1st. Finally, The Goldman Sachs Group dropped their target price on ACV Auctions from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.45.

ACV Auctions Stock Up 6.6%

The firm’s 50 day simple moving average is $5.79 and its 200-day simple moving average is $7.47. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $808.90 million, a price-to-earnings ratio of -12.20 and a beta of 1.69.

ACV Auctions (NYSE:ACVA) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). The business had revenue of $183.65 million for the quarter, compared to analyst estimates of $181.96 million. ACV Auctions had a negative return on equity of 6.17% and a negative net margin of 8.71%.The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) earnings per share.

Insider Buying and Selling

In related news, CEO George Chamoun purchased 24,272 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was purchased at an average cost of $5.05 per share, for a total transaction of $122,573.60. Following the completion of the purchase, the chief executive officer directly owned 2,952,977 shares in the company, valued at $14,912,533.85. This trade represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On ACV Auctions

Several large investors have recently made changes to their positions in ACVA. Riverbridge Partners LLC raised its position in ACV Auctions by 18.6% during the third quarter. Riverbridge Partners LLC now owns 3,567,434 shares of the company’s stock worth $35,353,000 after acquiring an additional 560,697 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of ACV Auctions by 3.3% in the 3rd quarter. William Blair Investment Management LLC now owns 11,471,709 shares of the company’s stock valued at $113,685,000 after acquiring an additional 362,003 shares during the period. Iridian Asset Management LLC CT increased its stake in shares of ACV Auctions by 52.7% during the 3rd quarter. Iridian Asset Management LLC CT now owns 1,880,851 shares of the company’s stock worth $18,639,000 after purchasing an additional 649,358 shares during the last quarter. Swedbank AB raised its holdings in shares of ACV Auctions by 50.0% in the 3rd quarter. Swedbank AB now owns 1,500,000 shares of the company’s stock valued at $14,865,000 after purchasing an additional 500,000 shares during the period. Finally, Campbell & CO Investment Adviser LLC lifted its stake in ACV Auctions by 1,030.4% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 131,203 shares of the company’s stock valued at $1,300,000 after purchasing an additional 119,596 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

About ACV Auctions

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.