Riverview Capital Advisers LLC Invests $347,000 in ACV Auctions Inc. (NASDAQ:ACVA)

Riverview Capital Advisers LLC purchased a new stake in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 16,061 shares of the company's stock, valued at approximately $347,000.

Other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. increased its holdings in ACV Auctions by 21.8% during the 4th quarter. Point72 Asset Management L.P. now owns 795,610 shares of the company's stock worth $17,185,000 after acquiring an additional 142,661 shares during the period. ProShare Advisors LLC increased its holdings in ACV Auctions by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 41,674 shares of the company's stock worth $900,000 after acquiring an additional 13,711 shares during the period. Nuveen Asset Management LLC increased its holdings in ACV Auctions by 12.0% during the 4th quarter. Nuveen Asset Management LLC now owns 3,041,900 shares of the company's stock worth $65,705,000 after acquiring an additional 326,206 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in ACV Auctions by 9.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 158,605 shares of the company's stock worth $3,426,000 after acquiring an additional 13,166 shares during the period. Finally, Moore Capital Management LP bought a new stake in ACV Auctions during the 4th quarter worth approximately $5,782,000. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ACV Auctions

In related news, insider Michael Waterman sold 223,330 shares of ACV Auctions stock in a transaction dated 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 directly owns 466,548 shares of the company's stock, valued at $7,931,316. This trade represents a 32.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO William Zerella sold 15,000 shares of ACV Auctions stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $13.53, for a total transaction of $202,950.00. Following the completion of the transaction, the chief financial officer now directly owns 766,266 shares of the company's stock, valued at $10,367,578.98. This trade represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 586,579 shares of company stock valued at $9,341,700. Company insiders own 8.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ACVA shares. JMP Securities decreased 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 report on Wednesday, April 9th. Stephens upgraded shares of ACV Auctions to a "hold" rating in a research report on Saturday, February 1st. Bank of America upgraded shares of ACV Auctions from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, March 12th. Piper Sandler upgraded shares of ACV Auctions from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $18.00 to $20.00 in a research report on Thursday, March 20th. Finally, Needham & Company LLC restated a "buy" rating and set a $25.00 price objective on shares of ACV Auctions in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.50.

ACV Auctions Trading Down 0.8%

Shares of ACVA stock traded down $0.13 on Monday, hitting $16.91. 1,462,069 shares of the company's stock traded hands, compared to its average volume of 1,662,507. 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. The company's fifty day simple moving average is $14.86 and its 200 day simple moving average is $18.45. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -34.51 and a beta of 1.72.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.09) earnings per share (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%. During the same quarter in the prior year, the business posted ($0.13) earnings per share. The company's revenue for the quarter was up 25.4% compared to the same quarter last year. Equities analysts forecast that ACV Auctions Inc. will post -0.07 EPS for the current year.

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.