ACV Auctions Inc. $ACVA Shares Purchased by Squarepoint Ops LLC

Key Points

• Squarepoint Ops increased its ACV Auctions stake by 64.6% in the second quarter, purchasing 214,971 additional shares and bringing its holdings to 547,529 shares worth approximately $3.94 million. Institutional investors and hedge funds collectively own 88.55% of the company.
• Copart agreed to acquire ACV Auctions for $10.50 per share in cash, valuing the company at roughly $1.9 billion. ACVA shares rose 44.3% and opened at $10.41, near the proposed acquisition price.
• Analyst sentiment remains mixed, with recent downgrades to “hold” and “underperform”; MarketBeat reports a consensus rating of “Hold” and a $9.50 price target, below Copart’s offer.

Squarepoint Ops LLC lifted its stake in ACV Auctions Inc. (NYSE:ACVA - Free Report) by 64.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 547,529 shares of the company's stock after purchasing an additional 214,971 shares during the quarter. Squarepoint Ops LLC owned about 0.32% of ACV Auctions worth $3,937,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Baird Financial Group Inc. increased its stake in ACV Auctions by 15.6% during the 2nd quarter. Baird Financial Group Inc. now owns 62,557 shares of the company's stock valued at $450,000 after purchasing an additional 8,426 shares in the last quarter. Allworth Financial LP lifted its stake in shares of ACV Auctions by 316.8% during the second quarter. Allworth Financial LP now owns 11,004 shares of the company's stock worth $79,000 after buying an additional 8,364 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of ACV Auctions during the second quarter worth $80,000. California State Teachers Retirement System grew its holdings in shares of ACV Auctions by 602.9% during the second quarter. California State Teachers Retirement System now owns 1,646,136 shares of the company's stock valued at $11,836,000 after buying an additional 1,411,929 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of ACV Auctions during the second quarter valued at $3,996,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACVA has been the subject of a number of research analyst reports. Stephens upgraded ACV Auctions from an "equal weight" rating to an "overweight" rating and set a $10.50 target price for the company in a research note on Tuesday, August 11th. Barrington Research downgraded ACV Auctions from an "outperform" rating to a "strong sell" rating in a research note on Friday. Bank of America reissued an "underperform" rating on shares of ACV Auctions in a report on Tuesday, August 11th. Needham & Company LLC cut ACV Auctions from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Weiss Ratings raised ACV Auctions from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, ACV Auctions presently has a consensus rating of "Hold" and a consensus price target of $9.50.

More ACV Auctions News

Here are the key news stories impacting ACV Auctions this week:

• Positive Sentiment: Copart agreed to acquire all outstanding ACV Auctions shares for $10.50 per share in cash, implying an equity value of approximately $1.9 billion. The transaction gives shareholders a defined cash exit and offers a substantial premium to ACV’s pre-announcement trading level. Copart to Acquire ACV, Expanding Position Across the Vehicle Remarketing Ecosystem
• Positive Sentiment: The proposed combination would expand Copart’s presence across the vehicle remarketing ecosystem and could provide strategic value from ACV’s dealer marketplace and automotive data services. ACV Auctions Stock Explodes After Copart's $1.9 Billion Takeover
• Neutral Sentiment: Barrington Research reaffirmed its “underperform” rating, while Needham & Company downgraded ACV from “buy” to “hold.” These views are less influential than the acquisition announcement but suggest analysts see limited upside beyond the $10.50 offer unless deal terms improve.
• Negative Sentiment: Several shareholder-rights law firms, including Brodsky & Smith, Monteverde & Associates, and Halper Sadeh, announced investigations into whether ACV’s board fulfilled its fiduciary duties and obtained a fair price. The inquiries could create legal costs, delay closing, or introduce uncertainty around the transaction, although they may also seek a higher offer for shareholders. Brodsky & Smith Announces an Investigation of ACV Auctions

ACV Auctions Trading Up 44.3%

NYSE ACVA opened at $10.41 on Friday. ACV Auctions Inc. has a 1 year low of $4.07 and a 1 year high of $10.60. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market capitalization of $1.77 billion, a PE ratio of -28.93 and a beta of 1.84. The company has a fifty day moving average of $7.49 and a 200 day moving average of $6.19.

ACV Auctions Company Profile

ACV Auctions Inc NYSE: ACVA operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with sellers, including franchised and independent dealerships, commercial partners and other participants in the wholesale vehicle market, enabling vehicles to be bought and sold through online auctions.

The company provides services designed to support the wholesale transaction process, including vehicle inspections and condition reports, digital auction tools, transportation and logistics coordination, and post-sale protection and arbitration services.

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