EntryPoint Capital LLC Acquires Shares of 36,781 ACV Auctions Inc. $ACVA

Key Points

• EntryPoint Capital LLC acquired a new stake in ACV Auctions, purchasing 36,781 shares worth approximately $518,000 in the first quarter, reflecting growing interest among institutional investors in the company.
• Several hedge funds, including Nuveen LLC and Vanguard Group Inc., have recently increased their positions in ACV Auctions, indicating strong institutional backing with 88.55% of the company's shares now held by institutional investors.
• Analysts have lowered their price targets for ACV Auctions, with Citigroup reducing its target from $21.00 to $17.00, while the consensus rating remains a "Moderate Buy" with a target price of $19.67.

EntryPoint Capital LLC purchased a new stake in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 36,781 shares of the company's stock, valued at approximately $518,000.

Several other institutional investors have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in ACV Auctions in the 1st quarter valued at approximately $35,000. Two Star Manager LLC grew its holdings in ACV Auctions by 40.8% in the first quarter. Two Star Manager LLC now owns 670,306 shares of the company's stock valued at $9,445,000 after purchasing an additional 194,265 shares during the last quarter. Wellington Management Group LLP increased its position in shares of ACV Auctions by 6.9% in the first quarter. Wellington Management Group LLP now owns 1,826,707 shares of the company's stock valued at $25,738,000 after buying an additional 118,156 shares in the last quarter. Roubaix Capital LLC raised its stake in shares of ACV Auctions by 18.4% during the 1st quarter. Roubaix Capital LLC now owns 222,295 shares of the company's stock worth $3,132,000 after buying an additional 34,553 shares during the last quarter. Finally, TFJ Management LLC boosted its position in shares of ACV Auctions by 146.8% in the 1st quarter. TFJ Management LLC now owns 702,218 shares of the company's stock worth $9,901,000 after buying an additional 417,736 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company's stock.

ACV Auctions Trading Down 1.4%

Shares of ACVA stock traded down $0.1680 during mid-day trading on Monday, hitting $11.9820. 689,165 shares of the company's stock were exchanged, compared to its average volume of 2,117,685. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -24.46 and a beta of 1.69. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. ACV Auctions Inc. has a fifty-two week low of $10.26 and a fifty-two week high of $23.46. The stock has a 50-day simple moving average of $14.62 and a two-hundred day simple moving average of $15.49.

Insider Transactions at ACV Auctions

In related news, insider Michael Waterman sold 34,339 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $16.05, for a total value of $551,140.95. Following the completion of the sale, the insider directly owned 379,957 shares in the company, valued at approximately $6,098,309.85. The trade was a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Eric Anderson sold 15,000 shares of the stock in a transaction that occurred on 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 directly owned 340,799 shares of the company's stock, valued at approximately $5,125,616.96. This trade represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Citigroup dropped their target price on shares of ACV Auctions from $21.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. JMP Securities dropped their price objective on shares of ACV Auctions from $20.00 to $18.00 and set a "market outperform" rating for the company in a research note on Tuesday, August 12th. JPMorgan Chase & Co. cut their price objective on ACV Auctions from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Thursday, July 17th. The Goldman Sachs Group lowered their target price on ACV Auctions from $26.00 to $21.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Finally, Bank of America dropped their price target on ACV Auctions from $20.00 to $16.50 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.