Tudor Investment Corp ET AL Makes New Investment in ACV Auctions Inc. (NASDAQ:ACVA)

Tudor Investment Corp ET AL acquired a new position in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 188,077 shares of the company's stock, valued at approximately $4,062,000. Tudor Investment Corp ET AL owned approximately 0.11% of ACV Auctions at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. boosted its position 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 acquiring an additional 933 shares in the last quarter. KBC Group NV raised its position in ACV Auctions by 80.4% in the 4th quarter. KBC Group NV now owns 7,406 shares of the company's stock valued at $160,000 after purchasing an additional 3,300 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of ACV Auctions during the fourth quarter worth about $226,000. Xponance Inc. acquired a new position in ACV Auctions in the 4th quarter valued at $229,000. Finally, Versor Investments LP acquired a new stake in shares of ACV Auctions during the 4th quarter valued at approximately $262,000. Hedge funds and other institutional investors own 88.55% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ACVA. JMP Securities lowered their price objective 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. Stephens upgraded ACV Auctions to a "hold" rating in a report on Saturday, February 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $25.00 target price on shares of ACV Auctions in a report on Wednesday, March 12th. Piper Sandler upgraded shares of ACV Auctions from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $18.00 to $20.00 in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. decreased their target price on ACV Auctions from $24.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.50.

ACV Auctions Price Performance

ACVA traded down $0.00 during trading on Tuesday, reaching $15.38. The company's stock had a trading volume of 471,304 shares, compared to its average volume of 1,618,145. ACV Auctions Inc. has a 1 year low of $11.88 and a 1 year high of $23.46. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -31.42 and a beta of 1.72. The firm has a fifty day simple moving average of $14.53 and a two-hundred day simple moving average of $18.54. 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 posted its earnings results on Wednesday, February 19th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.01. The firm had revenue of $159.51 million for the quarter, compared to the consensus estimate 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, analysts anticipate that ACV Auctions Inc. will post -0.07 EPS for the current year.

Insider Buying and Selling at ACV Auctions

In other news, CEO George Chamoun sold 348,249 shares of ACV Auctions stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,821,193 shares in the company, valued at approximately $43,277,100.62. The trade was a 10.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William Zerella sold 15,000 shares of the firm'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 transaction of $202,950.00. Following the completion of the sale, the chief financial officer now directly owns 766,266 shares of the company's stock, valued at approximately $10,367,578.98. This represents 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 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.