ACV Auctions Inc. (NASDAQ:ACVA) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lessened its holdings in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 50.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 471,000 shares of the company's stock after selling 474,000 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.28% of ACV Auctions worth $10,174,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ACVA. Barclays PLC lifted its stake in shares of ACV Auctions by 16.8% in the 3rd quarter. Barclays PLC now owns 244,999 shares of the company's stock valued at $4,980,000 after purchasing an additional 35,155 shares during the last quarter. Franklin Resources Inc. lifted its stake in ACV Auctions by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 40,935 shares of the company's stock worth $768,000 after acquiring an additional 2,057 shares in the last quarter. Procyon Advisors LLC acquired a new position in ACV Auctions during the 4th quarter worth about $361,000. Brighton Jones LLC acquired a new position in ACV Auctions during the 4th quarter worth about $392,000. Finally, Blue Trust Inc. lifted its stake in ACV Auctions by 65.8% during the 4th quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock worth $48,000 after acquiring an additional 933 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ACVA shares. JPMorgan Chase & Co. reduced their price target on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Piper Sandler raised ACV Auctions from a "neutral" rating to an "overweight" rating and increased their price target for the company from $18.00 to $20.00 in a research report on Thursday, March 20th. JMP Securities reduced their price target on ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Stephens raised ACV Auctions to a "hold" rating in a research report on Saturday, February 1st. Finally, Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and reduced their price target for the company from $22.00 to $20.00 in a research report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, ACV Auctions has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

Insiders Place Their Bets

In other news, insider Michael Waterman sold 223,330 shares of the business's stock in a transaction on 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 completion of the transaction, the insider now owns 466,548 shares of the company's stock, valued at approximately $7,931,316. The trade was a 32.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $5,342,139.66. Following the transaction, the chief executive officer now directly owns 2,821,193 shares of the company's stock, valued at approximately $43,277,100.62. This trade represents a 10.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 586,579 shares of company stock valued at $9,341,700 over the last 90 days. 8.50% of the stock is owned by company insiders.

ACV Auctions Stock Performance

Shares of NASDAQ ACVA traded down $0.09 during trading on Tuesday, reaching $16.79. The stock had a trading volume of 526,676 shares, compared to its average volume of 1,658,091. The stock has a market cap of $2.87 billion, a PE ratio of -34.22 and a beta of 1.72. The firm's 50 day moving average price is $14.91 and its two-hundred day moving average price is $18.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. ACV Auctions Inc. has a one year low of $11.88 and a one year high of $23.46.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates 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%. ACV Auctions's revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.13) earnings per share. On average, research analysts forecast that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal 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.