Axiom Investors LLC DE Sells 127,995 Shares of ACV Auctions Inc. $ACVA

Key Points

• Axiom Investors LLC DE has reduced its stake in ACV Auctions Inc. by 40.9%, selling 127,995 shares and now holds 185,290 shares valued at approximately $2.61 million.
• Several institutional investors have increased their positions in ACV Auctions, including Selkirk Management LLC, which raised its stake by 24.7% to own 570,000 shares valued at $8.03 million.
• Analyst ratings vary with Needham & Company and others lowering their price targets for ACV Auctions, now averaging around $19.67, while maintaining a consensus rating of "Moderate Buy."

Axiom Investors LLC DE trimmed its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 40.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,290 shares of the company's stock after selling 127,995 shares during the period. Axiom Investors LLC DE owned 0.11% of ACV Auctions worth $2,611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of ACV Auctions during the 1st quarter valued at $405,000. Selkirk Management LLC raised its position in shares of ACV Auctions by 24.7% during the 1st quarter. Selkirk Management LLC now owns 570,000 shares of the company's stock valued at $8,031,000 after purchasing an additional 113,000 shares during the period. Park West Asset Management LLC increased its holdings in ACV Auctions by 0.6% in the 1st quarter. Park West Asset Management LLC now owns 1,360,000 shares of the company's stock valued at $19,162,000 after acquiring an additional 8,082 shares during the last quarter. Petrus Trust Company LTA bought a new stake in ACV Auctions in the 1st quarter valued at $222,000. Finally, Philadelphia Financial Management of San Francisco LLC bought a new stake in ACV Auctions in the 1st quarter valued at $14,426,000. 88.55% of the stock is currently owned by institutional investors.

Insider Transactions at ACV Auctions

In other news, insider Craig Eric Anderson sold 15,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total value of $225,600.00. Following the sale, the insider directly owned 340,799 shares in the company, valued at $5,125,616.96. The trade was a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Waterman sold 34,339 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $16.05, for a total transaction of $551,140.95. Following the completion of the sale, the insider owned 379,957 shares in the company, valued at approximately $6,098,309.85. This trade represents a 8.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.90% of the company's stock.

ACV Auctions Stock Performance

ACV Auctions stock opened at $11.21 on Tuesday. The company's 50-day moving average price is $13.69 and its 200-day moving average price is $14.78. ACV Auctions Inc. has a twelve month low of $10.26 and a twelve month high of $23.46. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. The company has a market cap of $1.93 billion, a PE ratio of -22.87 and a beta of 1.68.

Analyst Ratings Changes

ACVA has been the topic of a number of research reports. Needham & Company LLC reduced their price target on shares of ACV Auctions from $25.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Citigroup reduced their price target on shares of ACV Auctions from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. JMP Securities reduced their price target on shares of ACV Auctions from $20.00 to $18.00 and set a "market outperform" rating on the stock in a report on Tuesday, August 12th. Bank of America reduced their price target on shares of ACV Auctions from $20.00 to $16.50 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Finally, Stephens reduced their price target on shares of ACV Auctions from $16.00 to $11.50 and set an "equal weight" rating on the stock in a report on Tuesday, August 12th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, ACV Auctions has an average rating of "Moderate Buy" and an average target price of $19.67.

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.

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