Sei Investments Co. Cuts Stock Position in ACV Auctions Inc. $ACVA

Key Points

• Sei Investments cut its ACV Auctions stake by 63.4% in the first quarter, selling 263,996 shares and retaining 152,364 shares valued at approximately $646,000. Institutional investors collectively own 88.55% of the company.
• Analyst sentiment is mixed: Stephens and Barrington Research upgraded the stock, while Barclays downgraded it and Bank of America maintained an “underperform” rating. The consensus rating is “Hold,” with an average price target of $9.35.
• ACVA opened at $8.22, with a market capitalization of roughly $1.40 billion and a 52-week trading range of $4.07 to $12.21. The company operates a digital wholesale used-vehicle auction marketplace and related software services.

Sei Investments Co. lessened its stake in shares of ACV Auctions Inc. (NYSE:ACVA - Free Report) by 63.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,364 shares of the company's stock after selling 263,996 shares during the period. Sei Investments Co. owned approximately 0.09% of ACV Auctions worth $646,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ACVA. Fifth Third Bancorp grew its stake in shares of ACV Auctions by 72.4% in the fourth quarter. Fifth Third Bancorp now owns 3,383 shares of the company's stock worth $27,000 after acquiring an additional 1,421 shares during the last quarter. State of Wisconsin Investment Board increased its holdings in shares of ACV Auctions by 3.1% during the fourth quarter. State of Wisconsin Investment Board now owns 55,897 shares of the company's stock valued at $448,000 after acquiring an additional 1,692 shares in the last quarter. ProShare Advisors LLC raised its position in shares of ACV Auctions by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 30,706 shares of the company's stock worth $246,000 after purchasing an additional 1,982 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of ACV Auctions by 13.6% in the 2nd quarter. Hsbc Holdings PLC now owns 19,508 shares of the company's stock worth $318,000 after purchasing an additional 2,342 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in ACV Auctions by 1.8% in the 2nd quarter. California State Teachers Retirement System now owns 141,512 shares of the company's stock worth $2,295,000 after purchasing an additional 2,467 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company's stock.

Wall Street Analyst Weigh In

ACVA has been the topic of several recent analyst reports. Weiss Ratings raised shares of ACV Auctions from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 5th. Stephens upgraded shares of ACV Auctions from an "equal weight" rating to an "overweight" rating and set a $10.50 price target on the stock in a report on Tuesday. Barclays downgraded shares of ACV Auctions from an "equal weight" rating to an "underweight" rating and set a $8.00 price target for the company. in a research report on Tuesday. Bank of America restated an "underperform" rating on shares of ACV Auctions in a report on Tuesday. Finally, Barrington Research raised ACV Auctions from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $9.35.

ACV Auctions Price Performance

Shares of NYSE:ACVA opened at $8.22 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.47 and a current ratio of 1.52. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -22.84 and a beta of 1.82. The business has a 50-day simple moving average of $7.15 and a two-hundred day simple moving average of $6.17. ACV Auctions Inc. has a fifty-two week low of $4.07 and a fifty-two week high of $12.21.

ACV Auctions Company Profile

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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