Wellington Management Group LLP Has $36.91 Million Stake in ACV Auctions Inc. (NASDAQ:ACVA)

Wellington Management Group LLP boosted its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 61.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,708,551 shares of the company's stock after purchasing an additional 649,039 shares during the period. Wellington Management Group LLP owned about 1.01% of ACV Auctions worth $36,905,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ACVA. Vanguard Group Inc. increased its position in ACV Auctions by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 14,245,915 shares of the company's stock valued at $307,712,000 after acquiring an additional 738,391 shares in the last quarter. William Blair Investment Management LLC increased its position in ACV Auctions by 43.2% in the 4th quarter. William Blair Investment Management LLC now owns 12,099,686 shares of the company's stock valued at $261,353,000 after acquiring an additional 3,652,871 shares in the last quarter. Alliancebernstein L.P. increased its position in ACV Auctions by 5.3% in the 4th quarter. Alliancebernstein L.P. now owns 5,622,255 shares of the company's stock valued at $121,441,000 after acquiring an additional 284,880 shares in the last quarter. Jennison Associates LLC increased its position in ACV Auctions by 17.2% in the 4th quarter. Jennison Associates LLC now owns 4,980,354 shares of the company's stock valued at $107,576,000 after acquiring an additional 732,422 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in ACV Auctions by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,575,347 shares of the company's stock valued at $77,246,000 after acquiring an additional 58,259 shares in the last quarter. 88.55% of the stock is owned by institutional investors.

ACV Auctions Stock Up 0.1%

ACVA traded up $0.01 during trading on Wednesday, reaching $16.35. The company had a trading volume of 248,361 shares, compared to its average volume of 1,676,078. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. ACV Auctions Inc. has a 12 month low of $11.88 and a 12 month high of $23.46. The business's fifty day moving average price is $15.25 and its 200 day moving average price is $18.22. The company has a market cap of $2.80 billion, a P/E ratio of -33.37 and a beta of 1.72.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates 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 in the prior year, the business posted ($0.13) earnings per share. ACV Auctions's revenue was up 25.4% on a year-over-year basis. Equities analysts anticipate that ACV Auctions Inc. will post -0.07 EPS for the current year.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, insider Michael Waterman sold 223,330 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $17.00, for a total value of $3,796,610.00. Following the transaction, the insider now directly owns 466,548 shares in the company, valued at $7,931,316. The trade was a 32.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William Zerella sold 15,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $13.53, for a total transaction of $202,950.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 586,579 shares of company stock valued at $9,341,700. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ACVA. JMP Securities lowered 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. Piper Sandler upgraded shares of ACV Auctions from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $18.00 to $20.00 in a research report on Thursday, March 20th. JPMorgan Chase & Co. lowered their price target on shares of ACV Auctions from $24.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Bank of America upgraded shares of ACV Auctions from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $22.00 to $20.00 in a research report on Wednesday, March 12th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $25.00 price target on shares of ACV Auctions in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, ACV Auctions presently has a consensus rating of "Moderate Buy" and an average 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.