ACV Auctions Inc. (NASDAQ:ACVA) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 27.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 269,394 shares of the company's stock after acquiring an additional 58,138 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.16% of ACV Auctions worth $5,819,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of ACV Auctions by 16.8% in the 3rd quarter. Barclays PLC now owns 244,999 shares of the company's stock valued at $4,980,000 after purchasing an additional 35,155 shares in the last quarter. Brighton Jones LLC acquired a new position in ACV Auctions during the 4th quarter worth approximately $392,000. Blue Trust Inc. grew its position in ACV Auctions by 65.8% in the 4th quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock valued at $48,000 after purchasing an additional 933 shares during the period. KBC Group NV grew its holdings in ACV Auctions by 80.4% during the fourth quarter. KBC Group NV now owns 7,406 shares of the company's stock worth $160,000 after buying an additional 3,300 shares in the last quarter. Finally, Deepwater Asset Management LLC lifted its position in shares of ACV Auctions by 8.2% during the 4th quarter. Deepwater Asset Management LLC now owns 758,892 shares of the company's stock worth $16,392,000 after buying an additional 57,717 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company's stock.

ACV Auctions Stock Down 0.3%

ACV Auctions stock traded down $0.05 during midday trading on Thursday, hitting $16.37. 528,476 shares of the company were exchanged, compared to its average volume of 1,679,393. ACV Auctions Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $23.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $2.80 billion, a PE ratio of -33.41 and a beta of 1.74. The company's fifty day moving average price is $15.29 and its 200-day moving average price is $18.21.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.13). ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. The company's revenue for the quarter was up 25.4% on a year-over-year basis. During the same period last year, the business earned ($0.13) EPS. On average, research analysts predict that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Waterman sold 223,330 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $17.00, for a total value of $3,796,610.00. Following the sale, the insider now owns 466,548 shares in the company, valued at approximately $7,931,316. This trade represents a 32.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO George Chamoun sold 348,249 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $15.34, for a total transaction of $5,342,139.66. Following the transaction, the chief executive officer now directly owns 2,821,193 shares of the company's stock, valued at $43,277,100.62. The trade was a 10.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 586,579 shares of company stock valued at $9,341,700. 2.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 target price on shares of ACV Auctions in a report on Thursday, May 8th. JMP Securities decreased their price target on ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler upgraded ACV Auctions from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $18.00 to $20.00 in a report on Thursday, March 20th. Bank of America upgraded shares of ACV Auctions from a "neutral" rating to a "buy" rating and reduced their price target for the company from $22.00 to $20.00 in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of ACV Auctions from $24.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ACV Auctions presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

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.