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

Dimensional Fund Advisors LP lifted its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,353,084 shares of the company's stock after buying 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 SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Formula Growth Ltd. lifted its holdings in ACV Auctions by 5.6% during the fourth quarter. Formula Growth Ltd. now owns 252,643 shares of the company's stock valued at $5,457,000 after purchasing an additional 13,318 shares in the last quarter. Cramer Rosenthal Mcglynn LLC raised its position in shares of ACV Auctions by 1.4% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 2,237,786 shares of the company's stock worth $48,336,000 after purchasing an additional 30,641 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in ACV Auctions in the 4th quarter valued at about $335,000. Osterweis Capital Management Inc. acquired a new stake in ACV Auctions in the 4th quarter worth about $11,640,000. Finally, Marshall Wace LLP purchased a new stake in ACV Auctions during the 4th quarter worth approximately $536,000. Institutional investors and hedge funds own 88.55% of the company's stock.

ACV Auctions Trading Up 1.9 %

Shares of ACV Auctions stock opened at $15.24 on Friday. The stock has a 50 day moving average of $14.55 and a 200 day moving average of $18.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -31.10 and a beta of 1.74. ACV Auctions Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $23.46.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.01. The business had revenue of $159.51 million during the quarter, compared to analysts' expectations of $156.77 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. As a group, research analysts predict that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ACVA shares. JMP Securities decreased their target price on ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. 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. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 target price on shares of ACV Auctions in a research report on Wednesday, March 12th. Piper Sandler upgraded shares of ACV Auctions from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $18.00 to $20.00 in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of ACV Auctions from $24.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.50.

Insider Buying and Selling at ACV Auctions

In related news, CFO William Zerella sold 15,000 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $13.53, for a total value of $202,950.00. Following the sale, the chief financial officer now owns 766,266 shares in the company, valued at approximately $10,367,578.98. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George Chamoun sold 348,249 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $15.34, for a total value of $5,342,139.66. Following the transaction, the chief executive officer now directly owns 2,821,193 shares in the company, valued at approximately $43,277,100.62. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 378,249 shares of company stock worth $5,849,140 over the last three months. Insiders own 8.50% of the company's stock.

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.

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