Vanguard Group Inc. Sells 115,982 Shares of ACV Auctions Inc. $ACVA

Vanguard Group Inc. cut its stake in ACV Auctions Inc. (NYSE:ACVA) by 0.7% during the fourth quarter, HoldingsChannel reports. The firm owned 15,517,034 shares of the company’s stock after selling 115,982 shares during the period. Vanguard Group Inc. owned 0.09% of ACV Auctions worth $124,447,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd grew its holdings in shares of ACV Auctions by 298.4% in the third quarter. Aster Capital Management DIFC Ltd now owns 3,323 shares of the company’s stock worth $33,000 after purchasing an additional 2,489 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of ACV Auctions by 12,979.5% during the fourth quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company’s stock valued at $46,000 after buying an additional 5,711 shares during the last quarter. Covestor Ltd raised its position in shares of ACV Auctions by 39.9% in the 3rd quarter. Covestor Ltd now owns 5,785 shares of the company’s stock valued at $57,000 after purchasing an additional 1,649 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in ACV Auctions during the 3rd quarter worth approximately $100,000. Finally, State of Wyoming acquired a new stake in shares of ACV Auctions during the 2nd quarter worth approximately $171,000. 88.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on ACVA. Citigroup cut shares of ACV Auctions from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $13.00 to $7.00 in a research note on Tuesday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of ACV Auctions in a research note on Tuesday, February 24th. Royal Bank Of Canada raised shares of ACV Auctions to an “outperform” rating in a research note on Tuesday, February 24th. Barclays dropped their price objective on shares of ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, March 2nd. Finally, B. Riley Financial dropped their price objective on shares of ACV Auctions from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, ACV Auctions currently has a consensus rating of “Moderate Buy” and an average price target of $10.45.

Insider Transactions at ACV Auctions

In related news, CEO George Chamoun acquired 24,272 shares of ACV Auctions stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average cost of $5.05 per share, for a total transaction of $122,573.60. Following the acquisition, the chief executive officer owned 2,952,977 shares in the company, valued at approximately $14,912,533.85. This represents a 0.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.90% of the company’s stock.

ACV Auctions Stock Down 3.9%

NYSE ACVA opened at $5.86 on Wednesday. ACV Auctions Inc. has a 52 week low of $4.07 and a 52 week high of $17.27. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $4.94 and its 200-day simple moving average is $6.69. The firm has a market cap of $1.02 billion, a PE ratio of -16.73 and a beta of 1.78.

ACV Auctions (NYSE:ACVA) last posted its quarterly earnings results on Monday, February 23rd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.10). ACV Auctions had a negative return on equity of 5.52% and a negative net margin of 7.97%.The company had revenue of $183.65 million for the quarter, compared to analysts’ expectations of $181.96 million. During the same quarter in the prior year, the firm earned ($0.16) EPS. The firm’s revenue was up 15.2% on a year-over-year basis. As a group, equities analysts anticipate that ACV Auctions Inc. will post -0.19 earnings per share for the current year.

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.