ACV Auctions Inc. (NASDAQ:ACVA) Shares Sold by Cwm LLC

Cwm LLC lowered its holdings in ACV Auctions Inc. (NASDAQ:ACVA) by 12.7% during the third quarter, Holdings Channel reports. The fund owned 119,923 shares of the company’s stock after selling 17,438 shares during the quarter. Cwm LLC’s holdings in ACV Auctions were worth $2,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Park Place Capital Corp grew its position in ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after buying an additional 706 shares during the period. Amalgamated Bank grew its position in ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after buying an additional 782 shares during the period. Blair William & Co. IL grew its position in ACV Auctions by 14.7% during the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after buying an additional 1,626 shares during the period. ProShare Advisors LLC grew its position in ACV Auctions by 8.5% during the first quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock valued at $429,000 after buying an additional 1,798 shares during the period. Finally, Arizona State Retirement System grew its position in ACV Auctions by 10.4% during the second quarter. Arizona State Retirement System now owns 41,303 shares of the company’s stock valued at $754,000 after buying an additional 3,881 shares during the period. Institutional investors and hedge funds own 88.55% of the company’s stock.

ACV Auctions Stock Performance

NASDAQ:ACVA opened at $18.75 on Tuesday. The company’s 50-day moving average price is $18.98 and its 200-day moving average price is $18.27. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24. The company has a market cap of $3.10 billion, a P/E ratio of -39.06 and a beta of 1.56. ACV Auctions Inc. has a twelve month low of $12.84 and a twelve month high of $21.10.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. The firm had revenue of $160.62 million for the quarter, compared to the consensus estimate of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. On average, sell-side analysts forecast that ACV Auctions Inc. will post -0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $15.19, for a total transaction of $493,675.00. Following the transaction, the chief financial officer now directly owns 503,077 shares of the company’s stock, valued at $7,641,739.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ACV Auctions news, VP Andrew Peer sold 1,795 shares of ACV Auctions stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $21.00, for a total transaction of $37,695.00. Following the transaction, the vice president now directly owns 62,956 shares of the company’s stock, valued at $1,322,076. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $15.19, for a total transaction of $493,675.00. Following the transaction, the chief financial officer now directly owns 503,077 shares in the company, valued at $7,641,739.63. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 691,425 shares of company stock valued at $13,336,852 over the last ninety days. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ACVA. Raymond James began coverage on shares of ACV Auctions in a research report on Friday, September 27th. They issued a “market perform” rating and a $22.00 target price on the stock. JMP Securities lifted their target price on shares of ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 17th. Finally, Barrington Research reiterated an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Friday, August 16th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, ACV Auctions currently has an average rating of “Moderate Buy” and an average target price of $21.57.

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.