24,837 Shares in ACV Auctions Inc. (NASDAQ:ACVA) Acquired by Marshall Wace LLP

Marshall Wace LLP acquired a new stake in ACV Auctions Inc. (NASDAQ:ACVA) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 24,837 shares of the company’s stock, valued at approximately $536,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of ACVA. Barclays PLC increased its holdings in shares of ACV Auctions by 16.8% in the third quarter. Barclays PLC now owns 244,999 shares of the company’s stock valued at $4,980,000 after purchasing an additional 35,155 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of 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 period. Principal Financial Group Inc. raised its position in shares of ACV Auctions by 4.9% during the third quarter. Principal Financial Group Inc. now owns 64,925 shares of the company’s stock worth $1,320,000 after acquiring an additional 3,022 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of ACV Auctions by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 3,167,615 shares of the company’s stock valued at $64,398,000 after acquiring an additional 311,465 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in ACV Auctions by 4.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 159,699 shares of the company’s stock valued at $3,449,000 after acquiring an additional 6,649 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

ACV Auctions Stock Up 1.9 %

NASDAQ:ACVA opened at $15.24 on Friday. ACV Auctions Inc. has a 1 year low of $11.88 and a 1 year high of $23.46. The stock has a 50-day moving average price of $14.55 and a two-hundred day moving average price of $18.57. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -31.10 and a beta of 1.74. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28.

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, beating the consensus estimate of ($0.15) by $0.01. The business had revenue of $159.51 million during the quarter, compared to analyst estimates 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, equities analysts expect that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

Analyst Ratings Changes

ACVA has been the topic of a number of research reports. Piper Sandler upgraded shares of ACV Auctions from a “neutral” rating to an “overweight” rating and upped their target price for the company from $18.00 to $20.00 in a research report on Thursday, March 20th. Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of ACV Auctions in a report on Wednesday, March 12th. Bank of America raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $22.00 to $20.00 in a report on Wednesday, March 12th. JMP Securities cut their price target 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. Finally, Stephens raised ACV Auctions to a “hold” rating in a research note on Saturday, February 1st. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, ACV Auctions currently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Insider Buying and Selling

In related news, CEO George Chamoun sold 348,249 shares of ACV Auctions stock in a transaction that occurred on 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 approximately $43,277,100.62. This trade represents a 10.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William Zerella sold 15,000 shares of the business’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 value of $202,950.00. Following the completion of the sale, the chief financial officer now owns 766,266 shares in the company, valued at $10,367,578.98. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 378,249 shares of company stock worth $5,849,140 over the last ninety days. Company insiders own 8.50% of the company’s stock.

About ACV Auctions

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.