Ieq Capital LLC Sells 5,374 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Ieq Capital LLC decreased its position in ACV Auctions Inc. (NASDAQ:ACVA) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,516 shares of the company’s stock after selling 5,374 shares during the quarter. Ieq Capital LLC’s holdings in ACV Auctions were worth $1,610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Moody National Bank Trust Division raised its position in ACV Auctions by 64.6% during the 4th quarter. Moody National Bank Trust Division now owns 79,199 shares of the company’s stock valued at $1,711,000 after purchasing an additional 31,094 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of ACV Auctions during the third quarter valued at approximately $566,000. TimesSquare Capital Management LLC boosted its holdings in ACV Auctions by 6.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,891,627 shares of the company’s stock valued at $40,859,000 after acquiring an additional 118,421 shares in the last quarter. JPMorgan Chase & Co. increased its position in ACV Auctions by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,167,615 shares of the company’s stock valued at $64,398,000 after purchasing an additional 311,465 shares during the period. Finally, Quantbot Technologies LP bought a new position in ACV Auctions in the 3rd quarter worth $2,035,000. 88.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Michael Waterman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total transaction of $304,050.00. Following the completion of the transaction, the insider now directly owns 311,354 shares of the company’s stock, valued at $6,311,145.58. The trade was a 4.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William Zerella sold 32,500 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $21.65, for a total transaction of $703,625.00. Following the transaction, the chief financial officer now owns 490,482 shares in the company, valued at approximately $10,618,935.30. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,662 shares of company stock valued at $1,935,451. 8.50% of the stock is owned by insiders.

ACV Auctions Stock Performance

Shares of ACVA stock opened at $17.32 on Tuesday. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of -35.35 and a beta of 1.69. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.51 and a current ratio of 1.56. ACV Auctions Inc. has a one year low of $14.76 and a one year high of $23.46. The company’s 50-day moving average is $21.09 and its 200 day moving average is $20.20.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly 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. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The firm had revenue of $159.51 million for the quarter, compared to analysts’ expectations of $156.77 million. Sell-side analysts expect that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Stephens raised shares of ACV Auctions to a “hold” rating in a research note on Saturday, February 1st. Piper Sandler lifted their price objective on ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC decreased their target price on ACV Auctions from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Citigroup lifted their price target on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Barrington Research reiterated an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, ACV Auctions presently has a consensus rating of “Moderate Buy” and an average target price of $23.35.

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.