ACV Auctions Inc. $ACVA Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon cut its ACV Auctions stake by 52.1% in the first quarter, selling 545,262 shares and retaining 501,529 shares valued at approximately $2.1 million. Institutional investors collectively own 88.55% of the company.
• Analyst sentiment remains generally positive: ACV Auctions has a consensus rating of “Moderate Buy” and an average price target of $10.23, while recent updates included a Barclays target increase to $8 and Barrington Research’s upgrade to “strong buy.”
• ACVA opened at $7.42, with a market capitalization of about $1.29 billion. The stock has traded between $4.07 and $14.28 over the past year and is above both its 50-day and 200-day moving averages.

Bank of New York Mellon Corp lowered its position in shares of ACV Auctions Inc. (NYSE:ACVA - Free Report) by 52.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 501,529 shares of the company's stock after selling 545,262 shares during the quarter. Bank of New York Mellon Corp owned about 0.29% of ACV Auctions worth $2,126,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp increased its holdings in shares of ACV Auctions by 72.4% in the 4th quarter. Fifth Third Bancorp now owns 3,383 shares of the company's stock valued at $27,000 after acquiring an additional 1,421 shares during the last quarter. State of Wisconsin Investment Board lifted its stake in ACV Auctions by 3.1% during the fourth quarter. State of Wisconsin Investment Board now owns 55,897 shares of the company's stock worth $448,000 after purchasing an additional 1,692 shares during the last quarter. ProShare Advisors LLC boosted its holdings in ACV Auctions by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 30,706 shares of the company's stock worth $246,000 after purchasing an additional 1,982 shares during the period. Hsbc Holdings PLC increased its stake in ACV Auctions by 13.6% during the second quarter. Hsbc Holdings PLC now owns 19,508 shares of the company's stock valued at $318,000 after purchasing an additional 2,342 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in ACV Auctions by 1.8% during the second quarter. California State Teachers Retirement System now owns 141,512 shares of the company's stock valued at $2,295,000 after purchasing an additional 2,467 shares during the last quarter. Institutional investors own 88.55% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ACVA. Weiss Ratings raised shares of ACV Auctions from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday. Stephens raised shares of ACV Auctions to a "hold" rating in a report on Monday, June 1st. Barclays boosted their price objective on shares of ACV Auctions from $7.00 to $8.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 22nd. Finally, Barrington Research upgraded shares of ACV Auctions from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.23.

ACV Auctions Stock Performance

ACVA stock opened at $7.42 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -21.19 and a beta of 1.82. ACV Auctions Inc. has a 1 year low of $4.07 and a 1 year high of $14.28. The stock's fifty day moving average is $6.99 and its two-hundred day moving average is $6.19.

ACV Auctions Company Profile

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.

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