Jump Financial LLC Sells 44,992 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Jump Financial LLC decreased its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 61.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 27,900 shares of the company's stock after selling 44,992 shares during the period. Jump Financial LLC's holdings in ACV Auctions were worth $603,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ACVA. Blue Trust Inc. boosted its position in shares of ACV Auctions by 65.8% in the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock valued at $48,000 after acquiring an additional 933 shares during the period. KBC Group NV lifted its position 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 purchasing an additional 3,300 shares during the period. LPL Financial LLC bought a new position in ACV Auctions in the fourth quarter valued at about $226,000. Xponance Inc. bought a new stake in shares of ACV Auctions during the fourth quarter worth $229,000. Finally, Versor Investments LP acquired a new stake in ACV Auctions during the 4th quarter worth approximately $262,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Stephens raised ACV Auctions to a "hold" rating in a research report on Saturday, February 1st. Needham & Company LLC restated a "buy" rating and issued a $25.00 target price on shares of ACV Auctions in a research note on Wednesday, March 12th. Piper Sandler raised ACV Auctions from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $18.00 to $20.00 in a research note on Thursday, March 20th. JMP Securities decreased their price objective on ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating for the company in a report on Wednesday, April 9th. Finally, Bank of America raised shares of ACV Auctions from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, ACV Auctions presently has a consensus rating of "Moderate Buy" and an average price target of $22.50.

ACV Auctions Stock Performance

Shares of NASDAQ:ACVA traded up $0.32 during mid-day trading on Tuesday, reaching $15.07. The company had a trading volume of 262,617 shares, compared to its average volume of 1,603,952. The company's 50-day moving average price is $14.75 and its 200-day moving average price is $18.67. ACV Auctions Inc. has a one year low of $11.88 and a one year high of $23.46. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -30.73 and a beta of 1.74. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last issued its earnings results 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. The firm had revenue of $159.51 million during the quarter, compared to analyst estimates of $156.77 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. As a group, equities research analysts anticipate that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

Insider Activity at ACV Auctions

In other news, CEO George Chamoun sold 348,249 shares of the firm'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 value of $5,342,139.66. Following the completion of the transaction, the chief executive officer now directly owns 2,821,193 shares in the company, valued at approximately $43,277,100.62. This trade represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William Zerella sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $13.53, for a total transaction of $202,950.00. Following the sale, the chief financial officer now directly owns 766,266 shares in the company, valued at $10,367,578.98. This trade represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 378,249 shares of company stock worth $5,849,140. 8.50% of the stock is owned by company insiders.

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.