ACV Auctions Inc. (NASDAQ:ACVA) Shares Purchased by Inflection Point Investments LLP

Inflection Point Investments LLP increased its stake in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 19.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 422,919 shares of the company's stock after buying an additional 68,309 shares during the quarter. ACV Auctions comprises 12.4% of Inflection Point Investments LLP's portfolio, making the stock its 4th largest position. Inflection Point Investments LLP owned about 0.25% of ACV Auctions worth $9,135,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in ACVA. Blue Trust Inc. raised its stake in shares of 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 in the last quarter. KBC Group NV raised its stake in 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 buying an additional 3,300 shares in the last quarter. LPL Financial LLC acquired a new stake in ACV Auctions during the fourth quarter valued at approximately $226,000. Xponance Inc. bought a new position in ACV Auctions during the 4th quarter worth approximately $229,000. Finally, Versor Investments LP acquired a new position in shares of ACV Auctions in the 4th quarter worth approximately $262,000. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

ACV Auctions Stock Up 1.3 %

Shares of ACVA stock traded up $0.19 on Friday, hitting $14.28. The company's stock had a trading volume of 2,255,728 shares, compared to its average volume of 1,582,080. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -29.14 and a beta of 1.74. ACV Auctions Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $23.46. The firm's fifty day moving average price is $15.57 and its 200-day moving average price is $18.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The business had revenue of $159.51 million during the quarter, compared to analysts' expectations of $156.77 million. Research analysts anticipate that ACV Auctions Inc. will post -0.07 EPS for the current year.

Insiders Place Their Bets

In other news, CEO George Chamoun sold 348,249 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $15.34, for a total value of $5,342,139.66. Following the sale, the chief executive officer now owns 2,821,193 shares in the company, valued at approximately $43,277,100.62. The trade was a 10.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Waterman sold 15,000 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total transaction of $304,050.00. Following the completion of the transaction, the insider now owns 311,354 shares in the company, valued at approximately $6,311,145.58. This trade represents a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 378,249 shares of company stock valued at $5,849,140 in the last three months. Company insiders own 8.50% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on ACVA shares. Stephens upgraded shares of ACV Auctions to a "hold" rating in a research note on Saturday, February 1st. Piper Sandler raised ACV Auctions from a "neutral" rating to an "overweight" rating and upped their target price for the company from $18.00 to $20.00 in a report on Thursday, March 20th. Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and cut their price target for the stock from $22.00 to $20.00 in a report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price objective on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $25.00 target price on shares of ACV Auctions in a research note on Wednesday, March 12th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $22.50.

ACV Auctions Company 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.