Edgestream Partners L.P. Sells 211,242 Shares of ACV Auctions Inc. $ACVA

Key Points

• Edgestream Partners cut its ACV Auctions position by 90.3% in the first quarter, selling 211,242 shares and retaining 22,585 shares worth approximately $96,000.
• Other institutional investors increased their exposure, including Quantinno Capital Management, which more than tripled its stake, while institutional investors collectively own 88.55% of ACV Auctions.
• ACVA shares opened at $7.49 after a 2.5% decline, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $10.23.

Edgestream Partners L.P. lowered its position in shares of ACV Auctions Inc. (NYSE:ACVA - Free Report) by 90.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,585 shares of the company's stock after selling 211,242 shares during the period. Edgestream Partners L.P.'s holdings in ACV Auctions were worth $96,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Amundi purchased a new stake in ACV Auctions in the first quarter worth approximately $63,000. California State Teachers Retirement System grew its holdings in shares of ACV Auctions by 46.0% during the 1st quarter. California State Teachers Retirement System now owns 234,207 shares of the company's stock valued at $993,000 after purchasing an additional 73,823 shares during the last quarter. Quantinno Capital Management LP lifted its stake in ACV Auctions by 215.8% in the first quarter. Quantinno Capital Management LP now owns 425,494 shares of the company's stock worth $1,804,000 after purchasing an additional 290,739 shares during the last quarter. Wealth Alliance LLC purchased a new stake in ACV Auctions during the first quarter valued at about $60,000. Finally, Senvest Management LLC grew its stake in shares of ACV Auctions by 9.0% during the first quarter. Senvest Management LLC now owns 3,530,785 shares of the company's stock valued at $14,971,000 after buying an additional 291,729 shares during the last quarter. 88.55% of the stock is owned by hedge funds and other institutional investors.

ACV Auctions Trading Down 2.5%

Shares of ACVA opened at $7.49 on Friday. ACV Auctions Inc. has a 1-year low of $4.07 and a 1-year high of $14.65. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.46. The firm's 50-day moving average price is $6.97 and its 200-day moving average price is $6.20. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -21.40 and a beta of 1.82.

Wall Street Analyst Weigh In

ACVA has been the subject of a number of recent research reports. Barclays boosted their target price on ACV Auctions from $7.00 to $8.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Weiss Ratings raised ACV Auctions from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday. Barrington Research raised shares of ACV Auctions from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, Stephens raised shares of ACV Auctions to a "hold" rating in a research report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $10.23.

About ACV Auctions

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.

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