Deutsche Bank AG Boosts Stock Position in ACV Auctions Inc. (NASDAQ:ACVA)

Deutsche Bank AG boosted its position in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 28.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 264,680 shares of the company's stock after buying an additional 59,089 shares during the quarter. Deutsche Bank AG owned approximately 0.16% of ACV Auctions worth $5,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Blue Trust Inc. boosted its holdings 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 worth $48,000 after acquiring an additional 933 shares during the period. KBC Group NV boosted its stake in ACV Auctions by 80.4% during the fourth quarter. KBC Group NV now owns 7,406 shares of the company's stock valued at $160,000 after buying an additional 3,300 shares during the period. LPL Financial LLC bought a new stake in ACV Auctions during the fourth quarter valued at $226,000. Xponance Inc. bought a new stake in ACV Auctions during the fourth quarter valued at $229,000. Finally, Versor Investments LP bought a new stake in ACV Auctions during the fourth quarter valued at $262,000. 88.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ACV Auctions news, CEO George Chamoun sold 348,249 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $15.34, for a total transaction of $5,342,139.66. Following the transaction, the chief executive officer now owns 2,821,193 shares in the company, valued at approximately $43,277,100.62. This represents a 10.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William Zerella sold 15,000 shares of the company'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 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 586,579 shares of company stock worth $9,341,700. 8.50% of the stock is currently owned by company insiders.

ACV Auctions Trading Down 1.2%

Shares of ACVA traded down $0.20 during trading hours on Friday, hitting $16.56. The company had a trading volume of 1,475,466 shares, compared to its average volume of 1,666,314. The firm has a market cap of $2.83 billion, a P/E ratio of -33.80 and a beta of 1.72. The stock's 50 day moving average price is $15.10 and its 200 day moving average price is $18.41. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. ACV Auctions Inc. has a 52-week low of $11.88 and a 52-week high of $23.46.

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 for the quarter, missing the consensus estimate 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 period in the previous year, the firm posted ($0.13) earnings per share. The company's revenue for the quarter was up 25.4% on a year-over-year basis. On average, research analysts predict that ACV Auctions Inc. will post -0.07 EPS for the current year.

Analyst Ratings Changes

ACVA has been the subject of several research analyst reports. JMP Securities dropped their price objective 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 restated a "buy" rating and set a $25.00 price target on shares of ACV Auctions in a research report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price target on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Stephens upgraded ACV Auctions to a "hold" rating in a research report on Saturday, February 1st. Finally, Bank of America upgraded ACV Auctions from a "neutral" rating to a "buy" rating and lowered their price target for the company from $22.00 to $20.00 in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.