Barclays PLC Increases Stock Position in ACV Auctions Inc. (NASDAQ:ACVA)

Barclays PLC grew its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 266,951 shares of the company's stock after buying an additional 21,952 shares during the period. Barclays PLC owned 0.16% of ACV Auctions worth $5,766,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in ACV Auctions by 65.8% during the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock worth $48,000 after purchasing an additional 933 shares during the period. KBC Group NV boosted its holdings in ACV Auctions by 80.4% in the 4th quarter. KBC Group NV now owns 7,406 shares of the company's stock worth $160,000 after buying an additional 3,300 shares during the period. LPL Financial LLC purchased a new position in ACV Auctions in the 4th quarter valued at approximately $226,000. Xponance Inc. bought a new stake in ACV Auctions during the 4th quarter valued at $229,000. Finally, Versor Investments LP purchased a new stake in shares of ACV Auctions during the fourth quarter worth $262,000. Hedge funds and other institutional investors own 88.55% of the company's stock.

ACV Auctions Price Performance

Shares of NASDAQ:ACVA traded up $0.22 during trading on Thursday, reaching $14.91. The company had a trading volume of 466,834 shares, compared to its average volume of 1,610,873. The company has a fifty day moving average of $14.62 and a two-hundred day moving average of $18.62. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $2.52 billion, a P/E ratio of -30.55 and a beta of 1.74. ACV Auctions Inc. has a 12 month low of $11.88 and a 12 month high of $23.46.

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

Insider Activity at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 15,000 shares of the company's stock in a transaction dated 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 in the company, valued at $10,367,578.98. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO George Chamoun sold 348,249 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 2,821,193 shares of the company's stock, valued at $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. In the last three months, insiders have sold 378,249 shares of company stock valued at $5,849,140. Corporate insiders own 8.50% of the company's stock.

Analysts Set New Price Targets

ACVA has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Bank of America upgraded ACV Auctions from a "neutral" rating to a "buy" rating and decreased their price target for the company from $22.00 to $20.00 in a research report on Wednesday, March 12th. Piper Sandler raised shares of ACV Auctions from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $18.00 to $20.00 in a report on Thursday, March 20th. Stephens raised shares of ACV Auctions to a "hold" rating in a research note on Saturday, February 1st. Finally, 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. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, ACV Auctions presently has an average rating of "Moderate Buy" and an average price target of $22.50.

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.