24,837 Shares in ACV Auctions Inc. (NASDAQ:ACVA) Acquired by Marshall Wace LLP

Marshall Wace LLP bought a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,837 shares of the company's stock, valued at approximately $536,000.

A number of other institutional investors have also recently made changes to their positions in ACVA. Blue Trust Inc. lifted its holdings in ACV Auctions by 65.8% during the 4th quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock valued at $48,000 after buying an additional 933 shares in the last quarter. KBC Group NV grew its position in ACV Auctions by 80.4% during the 4th 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 purchased a new stake in ACV Auctions during the fourth quarter worth $226,000. Xponance Inc. acquired a new position in shares of ACV Auctions in the fourth quarter worth about $229,000. Finally, Versor Investments LP purchased a new stake in shares of ACV Auctions in the fourth quarter valued at approximately $262,000. Hedge funds and other institutional investors own 88.55% of the company's stock.

Insider Buying and Selling at ACV Auctions

In related news, CEO George Chamoun sold 348,249 shares of ACV Auctions stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $15.34, for a total transaction 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 $43,277,100.62. The trade was a 10.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO William Zerella sold 15,000 shares of the company'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 completion of the sale, the chief financial officer now directly owns 766,266 shares in the company, valued at approximately $10,367,578.98. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

ACV Auctions Price Performance

Shares of ACV Auctions stock traded up $0.05 during trading on Tuesday, reaching $15.43. The company's stock had a trading volume of 944,615 shares, compared to its average volume of 1,619,874. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $14.53 and a 200-day moving average price of $18.54. ACV Auctions Inc. has a 12-month low of $11.88 and a 12-month high of $23.46. The company has a market capitalization of $2.60 billion, a P/E ratio of -31.48 and a beta of 1.72.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on ACVA shares. Needham & Company LLC reissued a "buy" rating and issued a $25.00 target price on shares of ACV Auctions in a research report on Wednesday, March 12th. Stephens raised shares of ACV Auctions to a "hold" rating in a research report on Saturday, February 1st. JMP Securities cut their target price on shares of ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. lowered their price target on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, Piper Sandler upgraded ACV Auctions from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $18.00 to $20.00 in a research note 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.