Barclays PLC Has $5.77 Million Stock Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Barclays PLC increased its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 266,951 shares of the company's stock after acquiring an additional 21,952 shares during the quarter. Barclays PLC owned approximately 0.16% of ACV Auctions worth $5,766,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in ACV Auctions by 65.8% in the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock valued at $48,000 after purchasing an additional 933 shares during the period. Arizona State Retirement System boosted its holdings in shares of ACV Auctions by 3.6% in the 4th quarter. Arizona State Retirement System now owns 44,126 shares of the company's stock valued at $953,000 after purchasing an additional 1,520 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of ACV Auctions by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 40,935 shares of the company's stock valued at $768,000 after buying an additional 2,057 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of ACV Auctions by 6.0% during the 4th quarter. Handelsbanken Fonder AB now owns 44,000 shares of the company's stock worth $950,000 after buying an additional 2,500 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of ACV Auctions by 4.9% in the 3rd quarter. Principal Financial Group Inc. now owns 64,925 shares of the company's stock worth $1,320,000 after buying an additional 3,022 shares during the period. 88.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ACV Auctions

In other news, CEO George Chamoun sold 348,249 shares of the company's 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 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 approximately $10,367,578.98. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 378,249 shares of company stock valued at $5,849,140 over the last three months. 8.50% of the stock is owned by corporate insiders.

ACV Auctions Trading Down 1.9 %

ACV Auctions stock traded down $0.29 during midday trading on Wednesday, reaching $14.68. The stock had a trading volume of 761,398 shares, compared to its average volume of 1,608,295. ACV Auctions Inc. has a twelve month low of $11.88 and a twelve month high of $23.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -29.96 and a beta of 1.74. The firm's fifty day simple moving average is $14.68 and its two-hundred day simple moving average is $18.65.

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

Analyst Upgrades and Downgrades

ACVA has been the topic of a number of research reports. JMP Securities cut their price objective on ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. lowered their target price on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Piper Sandler raised ACV Auctions from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $18.00 to $20.00 in a report on Thursday, March 20th. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price target on shares of ACV Auctions in a report on Wednesday, March 12th. Finally, Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and cut their target price for the company from $22.00 to $20.00 in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.50.

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.