Riverview Capital Advisers LLC Buys New Stake in ACV Auctions Inc. (NASDAQ:ACVA)

Riverview Capital Advisers LLC bought a new stake in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 16,061 shares of the company's stock, valued at approximately $347,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ACVA. Raymond James Financial Inc. acquired a new stake in shares of ACV Auctions during the 4th quarter worth about $4,704,000. Intech Investment Management LLC lifted its position in shares of ACV Auctions by 55.7% during the 4th quarter. Intech Investment Management LLC now owns 62,395 shares of the company's stock worth $1,348,000 after buying an additional 22,310 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of ACV Auctions by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,289,362 shares of the company's stock valued at $27,850,000 after buying an additional 48,021 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in ACV Auctions by 6.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,891,627 shares of the company's stock worth $40,859,000 after acquiring an additional 118,421 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in ACV Auctions by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 14,245,915 shares of the company's stock valued at $307,712,000 after acquiring an additional 738,391 shares during the last quarter. 88.55% of the stock is owned by institutional investors and hedge funds.

ACV Auctions Price Performance

Shares of ACV Auctions stock traded down $0.05 during trading on Tuesday, reaching $16.82. The company's stock had a trading volume of 580,991 shares, compared to its average volume of 2,210,826. The business has a 50 day moving average price of $14.91 and a 200-day moving average price of $18.45. 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 $2.88 billion, a P/E ratio of -34.35 and a beta of 1.72. The company has a quick ratio of 1.56, a current 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, May 7th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate 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 previous year, the business earned ($0.13) EPS. The business's revenue was up 25.4% on a year-over-year basis. As a group, sell-side analysts anticipate that ACV Auctions Inc. will post -0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

ACVA has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Needham & Company LLC restated a "buy" rating and set a $25.00 price target on shares of ACV Auctions in a research note on Thursday, May 8th. 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. Stephens raised ACV Auctions to a "hold" rating in a report on Saturday, February 1st. Finally, JMP Securities reduced their price target on shares of ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, ACV Auctions presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

Insider Buying and Selling at ACV Auctions

In related news, CFO William Zerella sold 15,000 shares of the firm'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 value 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Waterman sold 223,330 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $17.00, for a total value of $3,796,610.00. Following the completion of the sale, the insider now directly owns 466,548 shares in the company, valued at $7,931,316. This trade represents a 32.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 586,579 shares of company stock valued at $9,341,700. Corporate insiders own 8.50% of the company's stock.

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.