ACV Auctions Inc. (NASDAQ:ACVA) Stock Holdings Lessened by Cwm LLC

CWM LLC lowered its position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 97.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,616 shares of the company's stock after selling 100,981 shares during the period. CWM LLC's holdings in ACV Auctions were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc grew its position in ACV Auctions by 464.4% in the 1st quarter. Versant Capital Management Inc now owns 2,201 shares of the company's stock worth $31,000 after purchasing an additional 1,811 shares during the period. GAMMA Investing LLC lifted its stake in ACV Auctions by 3,005.8% during the 1st quarter. GAMMA Investing LLC now owns 5,932 shares of the company's stock worth $84,000 after acquiring an additional 5,741 shares in the last quarter. Integrated Advisors Network LLC purchased a new stake in ACV Auctions in the fourth quarter valued at approximately $200,000. Mackenzie Financial Corp purchased a new position in shares of ACV Auctions in the fourth quarter valued at $206,000. Finally, Bessemer Group Inc. increased its position in ACV Auctions by 14.5% during the first quarter. Bessemer Group Inc. now owns 9,911 shares of the company's stock worth $140,000 after purchasing an additional 1,257 shares during the last quarter. Institutional investors own 88.55% of the company's stock.

ACV Auctions Stock Up 1.3%

Shares of ACVA stock traded up $0.19 during trading hours on Wednesday, hitting $14.34. 2,103,773 shares of the company's stock traded hands, compared to its average volume of 2,039,759. ACV Auctions Inc. has a 12-month low of $11.88 and a 12-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 stock's fifty day simple moving average is $15.70 and its two-hundred day simple moving average is $16.35. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -29.26 and a beta of 1.70.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.09) earnings per share (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%. The company's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.13) earnings per share. On average, analysts expect that ACV Auctions Inc. will post -0.07 EPS for the current year.

Insider Transactions at ACV Auctions

In related news, insider Michael Waterman sold 34,339 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $16.05, for a total value of $551,140.95. Following the completion of the transaction, the insider owned 379,957 shares of the company's stock, valued at approximately $6,098,309.85. This represents a 8.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig Eric Anderson sold 15,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $15.04, for a total transaction of $225,600.00. Following the sale, the insider owned 340,799 shares in the company, valued at $5,125,616.96. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 272,669 shares of company stock valued at $4,573,351. 2.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ACVA has been the subject of several recent research reports. JMP Securities upped their target price on ACV Auctions from $18.00 to $20.00 and gave the company a "market outperform" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. reduced their price target on shares of ACV Auctions from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Thursday, July 17th. Citigroup reduced their price objective on ACV Auctions from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, July 7th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $25.00 target price on shares of ACV Auctions in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.05.

About ACV Auctions

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.