Axiom Investors LLC DE Grows Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Axiom Investors LLC DE grew its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 14.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 313,285 shares of the company’s stock after buying an additional 39,315 shares during the period. Axiom Investors LLC DE’s holdings in ACV Auctions were worth $6,767,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in shares of ACV Auctions by 65.8% during the 4th quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock valued at $48,000 after purchasing an additional 933 shares during the last quarter. KBC Group NV increased its stake in ACV Auctions by 80.4% in the 4th quarter. KBC Group NV now owns 7,406 shares of the company’s stock worth $160,000 after purchasing an additional 3,300 shares during the period. Icon Wealth Advisors LLC lifted its position in ACV Auctions by 13.5% in the third quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company’s stock valued at $225,000 after purchasing an additional 1,317 shares during the last quarter. LPL Financial LLC bought a new position in shares of ACV Auctions in the fourth quarter worth approximately $226,000. Finally, Xponance Inc. purchased a new position in shares of ACV Auctions in the fourth quarter worth $229,000. 88.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on ACVA. Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of ACV Auctions in a research report on Wednesday, March 12th. Piper Sandler upgraded ACV Auctions from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $18.00 to $20.00 in a report on Thursday, March 20th. JMP Securities reissued a “market outperform” rating and set a $25.00 target price on shares of ACV Auctions in a research note on Monday, December 16th. JPMorgan Chase & Co. dropped their price target on ACV Auctions from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Stephens raised shares of ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, ACV Auctions has an average rating of “Moderate Buy” and a consensus target price of $23.14.

Insider Buying and Selling at ACV Auctions

In other news, CEO George Chamoun sold 348,249 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $15.34, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO William Zerella sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.57, for a total transaction of $308,550.00. Following the transaction, the chief financial officer now directly owns 462,452 shares of the company’s stock, valued at $9,512,637.64. The trade was a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 423,411 shares of company stock worth $6,776,916. Insiders own 8.50% of the company’s stock.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $14.11 on Monday. ACV Auctions Inc. has a 1 year low of $12.77 and a 1 year high of $23.46. The firm’s 50-day moving average is $18.06 and its 200 day moving average is $19.59. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -28.80 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56.

ACV Auctions (NASDAQ:ACVA) last issued its earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. The firm had revenue of $159.51 million for the quarter, compared to the consensus estimate of $156.77 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. Sell-side analysts anticipate that ACV Auctions Inc. will post -0.07 EPS for the current fiscal 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.