BNP Paribas Financial Markets Acquires Shares of 301,848 ACV Auctions Inc. (NASDAQ:ACVA)

BNP Paribas Financial Markets purchased a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 301,848 shares of the company's stock, valued at approximately $6,520,000. BNP Paribas Financial Markets owned 0.18% of ACV Auctions as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several research firms have recently weighed in on ACVA. JMP Securities cut their price target on ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. Needham & Company LLC reissued a "buy" rating and set a $25.00 price objective on shares of ACV Auctions in a report on Thursday, May 8th. Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, March 12th. Piper Sandler raised 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 report on Thursday, March 20th. Finally, JPMorgan Chase & Co. dropped their price objective on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $22.50.

Insider Buying and Selling

In other news, CFO William Zerella sold 15,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 766,266 shares in the company, valued at $10,367,578.98. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Waterman sold 223,330 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $17.00, for a total value of $3,796,610.00. Following the completion of the transaction, the insider now owns 466,548 shares of the company's stock, valued at approximately $7,931,316. The trade was a 32.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 586,579 shares of company stock worth $9,341,700 in the last ninety days. 8.50% of the stock is owned by insiders.

ACV Auctions Price Performance

Shares of NASDAQ:ACVA traded up $0.10 on Friday, hitting $17.03. The company's stock had a trading volume of 2,015,890 shares, compared to its average volume of 1,661,469. The company has a 50-day simple moving average of $14.86 and a 200 day simple moving average of $18.44. ACV Auctions Inc. has a 1 year low of $11.88 and a 1 year high of $23.46. The company has a market capitalization of $2.87 billion, a PE ratio of -34.75 and a beta of 1.72. 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 announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.09) 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%. The business's quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) EPS. Sell-side analysts forecast that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

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.