Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 186,386 ACV Auctions Inc. (NASDAQ:ACVA)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 186,386 shares of the company's stock, valued at approximately $4,026,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.11% of ACV Auctions at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ACVA. Blue Trust Inc. raised its stake in ACV Auctions by 65.8% during the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock valued at $48,000 after buying an additional 933 shares during the last quarter. KBC Group NV raised its holdings in shares of ACV Auctions by 80.4% during the fourth quarter. KBC Group NV now owns 7,406 shares of the company's stock valued at $160,000 after purchasing an additional 3,300 shares during the last quarter. Integrated Advisors Network LLC bought a new position in ACV Auctions during the fourth quarter valued at approximately $200,000. Mackenzie Financial Corp purchased a new stake in ACV Auctions in the fourth quarter worth approximately $206,000. Finally, LPL Financial LLC bought a new stake in ACV Auctions in the 4th quarter worth approximately $226,000. Institutional investors own 88.55% of the company's stock.

ACV Auctions Trading Up 1.3%

Shares of NASDAQ ACVA traded up $0.20 during mid-day trading on Tuesday, reaching $16.37. 1,398,776 shares of the company's stock were exchanged, compared to its average volume of 1,678,811. The company's 50-day moving average is $15.21 and its 200-day moving average is $18.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -33.41 and a beta of 1.72. ACV Auctions Inc. has a 52-week low of $11.88 and a 52-week high of $23.46.

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 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 business's revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.13) EPS. Analysts expect that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO William Zerella sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $13.53, for a total value of $202,950.00. Following the sale, the chief financial officer now owns 766,266 shares of the company's stock, valued at $10,367,578.98. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Chamoun sold 348,249 shares of the 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 completion of the sale, the chief executive officer now directly owns 2,821,193 shares in the company, valued at approximately $43,277,100.62. This represents a 10.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 586,579 shares of company stock valued at $9,341,700 in the last ninety days. Company insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. JMP Securities reduced their target price on ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, March 12th. Needham & Company LLC reiterated a "buy" rating and set a $25.00 target price on shares of ACV Auctions in a research report on Thursday, May 8th. Finally, Piper Sandler raised shares of ACV Auctions from a "neutral" rating to an "overweight" rating and raised their target price for the company from $18.00 to $20.00 in a research report on Thursday, March 20th. 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, the stock currently has an average rating of "Moderate Buy" and an average target price 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.