ACV Auctions Inc. (NASDAQ:ACVA) Stock Position Decreased by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lowered its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 27.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,798,082 shares of the company's stock after selling 1,788,338 shares during the period. ACV Auctions comprises about 1.4% of ArrowMark Colorado Holdings LLC's holdings, making the stock its 21st largest position. ArrowMark Colorado Holdings LLC owned 2.86% of ACV Auctions worth $103,639,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its position in ACV Auctions by 65.8% in the 4th quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock valued at $48,000 after acquiring an additional 933 shares during the period. KBC Group NV grew its position in ACV Auctions by 80.4% in the 4th quarter. KBC Group NV now owns 7,406 shares of the company's stock valued at $160,000 after buying an additional 3,300 shares during the last quarter. LPL Financial LLC acquired a new position in ACV Auctions in the 4th quarter valued at $226,000. Xponance Inc. purchased a new position in ACV Auctions during the 4th quarter worth $229,000. Finally, Versor Investments LP acquired a new stake in shares of ACV Auctions in the 4th quarter worth $262,000. 88.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and cut their target price for the stock from $22.00 to $20.00 in a research note on Wednesday, March 12th. JMP Securities cut their price target on shares of ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating for the company in a report on Wednesday, April 9th. Stephens raised shares of ACV Auctions to a "hold" rating in a report on Saturday, February 1st. Needham & Company LLC reiterated a "buy" rating and set a $25.00 price target on shares of ACV Auctions in a research report on Wednesday, March 12th. Finally, Piper Sandler upgraded ACV Auctions from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $18.00 to $20.00 in a report on Thursday, March 20th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.50.

ACV Auctions Stock Up 0.3 %

ACV Auctions stock traded up $0.05 during midday trading on Tuesday, hitting $15.43. 944,615 shares of the company were exchanged, compared to its average volume of 1,624,884. The company has a market cap of $2.60 billion, a PE ratio of -31.48 and a beta of 1.72. ACV Auctions Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $23.46. The company's fifty day moving average price is $14.53 and its 200-day moving average price is $18.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56.

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 (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The firm had revenue of $159.51 million for the quarter, compared to the consensus estimate of $156.77 million. On average, research analysts predict that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling at ACV Auctions

In related news, CFO William Zerella sold 15,000 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $13.53, for a total value of $202,950.00. Following the sale, the chief financial officer now directly owns 766,266 shares of the company's stock, valued at $10,367,578.98. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO George Chamoun sold 348,249 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $15.34, for a total transaction of $5,342,139.66. Following the transaction, the chief executive officer now directly owns 2,821,193 shares of the company's stock, valued at approximately $43,277,100.62. This represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

ACV Auctions Company 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.