Universal Beteiligungs und Servicegesellschaft mbH Purchases 37,543 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in ACV Auctions Inc. by 20.1%, owning 223,929 shares valued at approximately $3.16 million as of the latest SEC filing.
• ACV Auctions reported a loss of ($0.09) EPS for the last quarter, missing the expected profit estimate of $0.04, despite a 25.4% growth in quarterly revenue compared to the previous year.
• Insider trading activity includes significant sales by executives, with over 272,000 shares sold in the last three months, which has raised concerns as insiders now hold only 2.90% of the stock.

Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 20.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,929 shares of the company's stock after purchasing an additional 37,543 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.13% of ACV Auctions worth $3,155,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ACVA. Versant Capital Management Inc increased its position in ACV Auctions by 464.4% during the first quarter. Versant Capital Management Inc now owns 2,201 shares of the company's stock valued at $31,000 after acquiring an additional 1,811 shares during the last quarter. GAMMA Investing LLC increased its position in ACV Auctions by 3,005.8% during the first quarter. GAMMA Investing LLC now owns 5,932 shares of the company's stock valued at $84,000 after acquiring an additional 5,741 shares during the last quarter. Integrated Advisors Network LLC bought a new position in ACV Auctions during the fourth quarter valued at $200,000. Mackenzie Financial Corp bought a new position in ACV Auctions during the fourth quarter valued at $206,000. Finally, Bessemer Group Inc. increased its position in ACV Auctions by 14.5% during the first quarter. Bessemer Group Inc. now owns 9,911 shares of the company's stock valued at $140,000 after acquiring an additional 1,257 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company's stock.

Insider Activity

In other ACV Auctions news, insider Michael Waterman sold 223,330 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $17.00, for a total transaction of $3,796,610.00. Following the transaction, the insider directly owned 466,548 shares in the company, valued at $7,931,316. This represents a 32.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Eric Anderson sold 15,000 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $15.04, for a total transaction of $225,600.00. Following the transaction, the insider owned 340,799 shares in the company, valued at approximately $5,125,616.96. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 272,669 shares of company stock worth $4,573,351. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ACVA has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $25.00 price objective on shares of ACV Auctions in a research report on Thursday, May 8th. JMP Securities boosted their price objective on shares of ACV Auctions from $18.00 to $20.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. cut their price objective on shares of ACV Auctions from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, July 17th. Finally, Citigroup cut their price target on shares of ACV Auctions from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Monday, July 7th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.05.

ACV Auctions Trading Down 1.9%

Shares of NASDAQ ACVA traded down $0.27 during mid-day trading on Friday, reaching $13.94. The company had a trading volume of 802,618 shares, compared to its average volume of 2,006,490. The business's 50-day moving average is $15.88 and its 200-day moving average is $16.54. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -28.43 and a beta of 1.71. 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 issued its earnings results on Wednesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. During the same quarter in the prior year, the firm earned ($0.13) EPS. The business's quarterly revenue was up 25.4% compared to the same quarter last year. Equities analysts expect that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

ACV Auctions 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.