John G Ullman & Associates Inc. Grows Stock Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

John G Ullman & Associates Inc. raised its position in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,284 shares of the company’s stock after buying an additional 1,000 shares during the quarter. John G Ullman & Associates Inc.’s holdings in ACV Auctions were worth $1,004,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of ACV Auctions by 8.6% during the third quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company’s stock valued at $194,445,000 after buying an additional 1,010,941 shares during the last quarter. FMR LLC lifted its position in shares of ACV Auctions by 9.4% during the third quarter. FMR LLC now owns 11,763,945 shares of the company’s stock valued at $178,577,000 after buying an additional 1,011,236 shares during the last quarter. Atreides Management LP lifted its position in shares of ACV Auctions by 5.8% during the third quarter. Atreides Management LP now owns 10,829,070 shares of the company’s stock valued at $164,385,000 after buying an additional 594,347 shares during the last quarter. BlackRock Inc. lifted its position in shares of ACV Auctions by 9.6% during the second quarter. BlackRock Inc. now owns 8,801,884 shares of the company’s stock valued at $152,009,000 after buying an additional 770,630 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of ACV Auctions by 4,360.9% during the second quarter. Alliancebernstein L.P. now owns 5,121,100 shares of the company’s stock valued at $88,441,000 after buying an additional 5,006,300 shares during the last quarter. 88.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ACV Auctions

In other news, insider Craig Eric Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $18.00, for a total transaction of $90,000.00. Following the sale, the insider now owns 202,797 shares of the company’s stock, valued at approximately $3,650,346. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $17.17, for a total transaction of $558,025.00. Following the sale, the chief financial officer now owns 314,151 shares of the company’s stock, valued at approximately $5,393,972.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Eric Anderson sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $18.00, for a total value of $90,000.00. Following the transaction, the insider now owns 202,797 shares in the company, valued at approximately $3,650,346. The disclosure for this sale can be found here. Insiders have sold 1,507,708 shares of company stock valued at $27,126,374 in the last 90 days. 13.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a report on Thursday, February 22nd. Northcoast Research upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Wednesday, January 10th. Finally, JMP Securities restated a “market outperform” rating and set a $19.00 price objective on shares of ACV Auctions in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.21.

ACV Auctions Trading Up 0.1 %

Shares of NASDAQ:ACVA opened at $17.31 on Friday. ACV Auctions Inc. has a twelve month low of $11.58 and a twelve month high of $19.54. The company’s 50 day moving average is $17.39 and its 200 day moving average is $15.45. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.25.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.01. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. The company had revenue of $118.38 million for the quarter, compared to the consensus estimate of $117.62 million. Analysts expect that ACV Auctions Inc. will post -0.29 EPS for the current fiscal year.

ACV Auctions Profile

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.