William Blair Investment Management LLC Sells 580,023 Shares of ACV Auctions Inc. $ACVA

Key Points

• William Blair Investment Management cut its ACV Auctions position by 5.1% in the fourth quarter, selling 580,023 shares and leaving it with 10.89 million shares worth about $87.35 million. Institutional investors still own a very large portion of the company, at 88.55% of the stock.
• CEO George Chamoun bought 24,272 shares at $5.05 each, a transaction valued at about $122,574. After the purchase, he directly owned nearly 2.95 million shares.
• Analyst views remain mixed: ACV Auctions has a Moderate Buy consensus with a $10.45 target price, but recent moves included a Weiss Ratings sell call and target cuts from firms like Citigroup and Barclays. The stock last traded at $5.95 after the company reported a smaller-than-expected quarterly loss and 15.2% revenue growth year over year.

William Blair Investment Management LLC decreased its position in ACV Auctions Inc. (NYSE:ACVA - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,891,686 shares of the company's stock after selling 580,023 shares during the quarter. William Blair Investment Management LLC owned 6.33% of ACV Auctions worth $87,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ACVA. Fifth Third Bancorp increased its stake in ACV Auctions by 72.4% in the 4th 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. Aster Capital Management DIFC Ltd increased its stake in ACV Auctions by 298.4% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,323 shares of the company's stock worth $33,000 after acquiring an additional 2,489 shares during the last quarter. Larson Financial Group LLC increased its position in shares of ACV Auctions by 38,076.9% during the 4th quarter. Larson Financial Group LLC now owns 4,963 shares of the company's stock valued at $40,000 after purchasing an additional 4,950 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of ACV Auctions by 12,979.5% during the 4th quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company's stock valued at $46,000 after purchasing an additional 5,711 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of ACV Auctions by 39.9% during the 3rd quarter. Covestor Ltd now owns 5,785 shares of the company's stock valued at $57,000 after purchasing an additional 1,649 shares during the last quarter. Institutional investors own 88.55% of the company's stock.

Insider Buying and Selling

In other ACV Auctions news, CEO George Chamoun acquired 24,272 shares of the business's stock in a transaction on Monday, March 9th. The shares were bought at an average price of $5.05 per share, with a total value of $122,573.60. Following the transaction, the chief executive officer directly owned 2,952,977 shares of the company's stock, valued at $14,912,533.85. The trade was a 0.83% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 4.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

ACVA has been the topic of several analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of ACV Auctions in a research report on Friday, March 27th. Royal Bank Of Canada raised ACV Auctions to an "outperform" rating in a research report on Tuesday, February 24th. The Goldman Sachs Group cut their target price on ACV Auctions from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, February 24th. Citigroup downgraded ACV Auctions from a "buy" rating to a "neutral" rating and cut their target price for the company from $13.00 to $7.00 in a research report on Tuesday, February 24th. Finally, Barclays cut their target price on ACV Auctions from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, ACV Auctions has an average rating of "Moderate Buy" and a consensus target price of $10.45.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $5.95 on Monday. The stock's fifty day moving average is $5.04 and its two-hundred day moving average is $6.50. The company has a market capitalization of $1.04 billion, a PE ratio of -17.01 and a beta of 1.78. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.46. ACV Auctions Inc. has a 52 week low of $4.07 and a 52 week high of $17.16.

ACV Auctions (NYSE:ACVA - Get Free Report) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.10). The business had revenue of $183.65 million during the quarter, compared to the consensus estimate of $181.96 million. ACV Auctions had a negative net margin of 7.97% and a negative return on equity of 5.52%. The business's revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company earned ($0.16) EPS. As a group, analysts expect that ACV Auctions Inc. will post -0.19 earnings per share for the current year.

About ACV Auctions

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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