Inflection Point Investments LLP Has $9.14 Million Stake in ACV Auctions Inc. (NASDAQ:ACVA)

Inflection Point Investments LLP boosted its holdings in ACV Auctions Inc. (NASDAQ:ACVA) by 19.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 422,919 shares of the company’s stock after acquiring an additional 68,309 shares during the quarter. ACV Auctions accounts for approximately 12.4% of Inflection Point Investments LLP’s investment portfolio, making the stock its 4th biggest holding. Inflection Point Investments LLP owned 0.25% of ACV Auctions worth $9,135,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of ACV Auctions by 65.8% in 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. Arizona State Retirement System grew its position in ACV Auctions by 3.6% in the 4th quarter. Arizona State Retirement System now owns 44,126 shares of the company’s stock worth $953,000 after purchasing an additional 1,520 shares in the last quarter. Franklin Resources Inc. increased its stake in ACV Auctions by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 40,935 shares of the company’s stock valued at $768,000 after buying an additional 2,057 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of ACV Auctions by 6.0% during the 4th quarter. Handelsbanken Fonder AB now owns 44,000 shares of the company’s stock worth $950,000 after buying an additional 2,500 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of ACV Auctions by 4.9% in the 3rd quarter. Principal Financial Group Inc. now owns 64,925 shares of the company’s stock worth $1,320,000 after buying an additional 3,022 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

Insiders Place Their Bets

In other ACV Auctions news, CEO George Chamoun sold 348,249 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $15.34, for a total value of $5,342,139.66. Following the sale, the chief executive officer now owns 2,821,193 shares of the company’s stock, valued at $43,277,100.62. This trade represents a 10.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Waterman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.27, for a total value of $304,050.00. Following 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 position. The disclosure for this sale can be found here. Insiders have sold 378,249 shares of company stock worth $5,849,140 in the last three months. 8.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

ACV Auctions Trading Up 2.0 %

NASDAQ:ACVA opened at $14.28 on Monday. ACV Auctions Inc. has a 1 year low of $11.88 and a 1 year high of $23.46. The stock’s fifty day moving average price is $16.27 and its two-hundred day moving average price is $19.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $2.41 billion, a P/E ratio of -29.13 and a beta of 1.74.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $159.51 million for the quarter, compared to analysts’ expectations of $156.77 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. As a group, analysts expect 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.