Point72 Asset Management L.P. Has $17.19 Million Stock Position in ACV Auctions Inc. (NASDAQ:ACVA)

Point72 Asset Management L.P. raised its position in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 795,610 shares of the company's stock after buying an additional 142,661 shares during the quarter. Point72 Asset Management L.P. owned 0.47% of ACV Auctions worth $17,185,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ACVA. Blue Trust Inc. boosted its position in shares of 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 acquiring an additional 933 shares during the period. Arizona State Retirement System boosted its holdings in 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 period. Franklin Resources Inc. grew its position 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 worth $768,000 after purchasing an additional 2,057 shares in the last quarter. Handelsbanken Fonder AB grew its position 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 purchasing an additional 2,500 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of ACV Auctions by 80.4% during the fourth quarter. KBC Group NV now owns 7,406 shares of the company's stock worth $160,000 after purchasing an additional 3,300 shares during the period. Institutional investors own 88.55% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ACVA shares. JPMorgan Chase & Co. cut their price target 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. Needham & Company LLC reissued a "buy" rating and set a $25.00 target price on shares of ACV Auctions in a report on Thursday, May 8th. Stephens upgraded ACV Auctions to a "hold" rating in a research report on Saturday, February 1st. JMP Securities cut their price objective on shares of ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Bank of America upgraded shares of ACV Auctions from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, March 12th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

Insider Buying and Selling

In other ACV Auctions news, insider Michael Waterman sold 223,330 shares of the business'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 transaction of $3,796,610.00. Following the sale, the insider now directly owns 466,548 shares of the company's stock, valued at $7,931,316. The trade was a 32.37% decrease in their position. 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 the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $13.53, for a total transaction of $202,950.00. Following the transaction, the chief financial officer now directly owns 766,266 shares of the company's stock, valued at $10,367,578.98. The trade was a 1.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 586,579 shares of company stock worth $9,341,700 in the last 90 days. Insiders own 8.50% of the company's stock.

ACV Auctions Price Performance

NASDAQ ACVA traded down $0.21 during trading on Friday, hitting $16.55. 302,192 shares of the company's stock were exchanged, compared to its average volume of 1,655,160. The company has a market cap of $2.83 billion, a PE ratio of -33.77 and a beta of 1.72. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. ACV Auctions Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $23.46. The stock's 50 day moving average price is $15.05 and its two-hundred day moving average price is $18.42.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.13). ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. During the same quarter last year, the firm earned ($0.13) EPS. The company's quarterly revenue was up 25.4% compared to the same quarter last year. Research analysts expect that ACV Auctions Inc. will post -0.07 EPS for the current 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.