Walleye Capital LLC Sells 594,774 Shares of ACV Auctions Inc. $ACVA

Walleye Capital LLC lessened its stake in shares of ACV Auctions Inc. (NYSE:ACVA) by 22.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,058,536 shares of the company’s stock after selling 594,774 shares during the quarter. Walleye Capital LLC’s holdings in ACV Auctions were worth $8,728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fifth Third Bancorp boosted its position in shares of ACV Auctions by 72.4% during the 4th quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock valued at $27,000 after acquiring an additional 1,421 shares during the last quarter. State of Wisconsin Investment Board grew its stake in ACV Auctions by 3.1% in the 4th quarter. State of Wisconsin Investment Board now owns 55,897 shares of the company’s stock worth $448,000 after buying an additional 1,692 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of ACV Auctions by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 30,706 shares of the company’s stock worth $246,000 after buying an additional 1,982 shares during the last quarter. Trust Point Inc. lifted its holdings in shares of ACV Auctions by 13.1% during the 4th quarter. Trust Point Inc. now owns 19,428 shares of the company’s stock worth $156,000 after acquiring an additional 2,248 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in ACV Auctions by 13.6% in the second quarter. Hsbc Holdings PLC now owns 19,508 shares of the company’s stock worth $318,000 after acquiring an additional 2,342 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ACVA shares. Stephens upgraded ACV Auctions to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of ACV Auctions in a report on Wednesday, June 24th. Barrington Research downgraded ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 target price for the company. in a research report on Monday, June 1st. Finally, Barclays upped their target price on ACV Auctions from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, ACV Auctions presently has a consensus rating of “Hold” and a consensus price target of $10.23.

ACV Auctions Stock Down 3.3%

ACVA opened at $7.67 on Thursday. The company has a market cap of $1.34 billion, a P/E ratio of -21.90 and a beta of 1.82. The business’s 50-day moving average price is $6.56 and its 200-day moving average price is $6.26. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.46. ACV Auctions Inc. has a 12 month low of $4.07 and a 12 month high of $15.31.

About ACV Auctions

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.