ACV Auctions Inc. (NASDAQ:ACVA) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,353,084 shares of the company's stock after acquiring an additional 83,998 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.40% of ACV Auctions worth $50,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ACVA. Raymond James Financial Inc. acquired a new position in ACV Auctions in the 4th quarter valued at about $4,704,000. Intech Investment Management LLC raised its position in shares of ACV Auctions by 55.7% during the 4th quarter. Intech Investment Management LLC now owns 62,395 shares of the company's stock valued at $1,348,000 after buying an additional 22,310 shares during the period. Moody National Bank Trust Division lifted its holdings in ACV Auctions by 64.6% in the fourth quarter. Moody National Bank Trust Division now owns 79,199 shares of the company's stock valued at $1,711,000 after acquiring an additional 31,094 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in ACV Auctions by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,289,362 shares of the company's stock worth $27,850,000 after acquiring an additional 48,021 shares during the period. Finally, TimesSquare Capital Management LLC increased its stake in ACV Auctions by 6.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,891,627 shares of the company's stock worth $40,859,000 after acquiring an additional 118,421 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $25.00 price target on shares of ACV Auctions in a research note on Thursday. Bank of America raised shares of ACV Auctions from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $22.00 to $20.00 in a research note on Wednesday, March 12th. JPMorgan Chase & Co. reduced 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. Piper Sandler raised shares of ACV Auctions from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $18.00 to $20.00 in a research report on Thursday, March 20th. Finally, Stephens upgraded shares of ACV Auctions to a "hold" rating in a report on Saturday, February 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, ACV Auctions has a consensus rating of "Moderate Buy" and a consensus target price of $22.50.

Insider Transactions at ACV Auctions

In other news, CFO William Zerella sold 15,000 shares of ACV Auctions 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Chamoun sold 348,249 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $15.34, for a total value of $5,342,139.66. Following the completion of the transaction, the chief executive officer now directly owns 2,821,193 shares in the company, valued at $43,277,100.62. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company's stock.

ACV Auctions Stock Up 3.9 %

ACV Auctions stock traded up $0.62 during mid-day trading on Thursday, reaching $16.33. 880,781 shares of the company's stock were exchanged, compared to its average volume of 1,631,859. 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 Inc. has a twelve month low of $11.88 and a twelve month high of $23.46. The company has a market cap of $2.76 billion, a P/E ratio of -33.33 and a beta of 1.72. The company has a fifty day moving average of $14.51 and a 200-day moving average of $18.50.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.13). ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. During the same period last year, the firm earned ($0.13) earnings per share. ACV Auctions's revenue for the quarter was up 25.4% on a year-over-year basis. Sell-side analysts expect 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.