ACV Auctions Inc. (NASDAQ:ACVA) Shares Bought by Deutsche Bank AG

Deutsche Bank AG grew its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 28.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 264,680 shares of the company's stock after purchasing 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 SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Driehaus Capital Management LLC raised its position in ACV Auctions by 128.5% in the 4th quarter. Driehaus Capital Management LLC now owns 2,837,165 shares of the company's stock valued at $61,283,000 after purchasing an additional 1,595,657 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in ACV Auctions in the fourth quarter valued at $270,000. Balyasny Asset Management L.P. purchased a new stake in shares of ACV Auctions in the fourth quarter valued at about $2,262,000. BNP Paribas Financial Markets acquired a new stake in shares of ACV Auctions during the fourth quarter worth about $6,520,000. Finally, Algert Global LLC purchased a new position in shares of ACV Auctions during the fourth quarter worth about $2,921,000. Institutional investors and hedge funds own 88.55% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, March 12th. Stephens raised ACV Auctions to a "hold" rating in a report on Saturday, February 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price target on shares of ACV Auctions in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price objective on shares of ACV Auctions from $24.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, ACV Auctions currently has a consensus rating of "Moderate Buy" and an average price target of $22.50.

Insider Transactions at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 15,000 shares of the company's stock in a transaction 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 sale, the chief financial officer now owns 766,266 shares of the company's stock, valued at approximately $10,367,578.98. This represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Chamoun sold 348,249 shares of ACV Auctions stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $15.34, for a total value of $5,342,139.66. Following the transaction, the chief executive officer now directly owns 2,821,193 shares of the company's stock, valued at $43,277,100.62. This trade represents a 10.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 586,579 shares of company stock valued at $9,341,700 in the last quarter. 8.50% of the stock is currently owned by corporate insiders.

ACV Auctions Price Performance

ACV Auctions stock opened at $17.03 on Monday. The company has a market cap of $2.87 billion, a P/E ratio of -34.75 and a beta of 1.72. ACV Auctions Inc. has a one year low of $11.88 and a one year high of $23.46. The business has a fifty day moving average of $14.86 and a two-hundred day moving average of $18.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current 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%. During the same quarter last year, the firm posted ($0.13) earnings per share. ACV Auctions's revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, analysts predict that ACV Auctions Inc. will post -0.07 earnings per share 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.

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