Rhumbline Advisers Has $4.46 Million Stake in ACV Auctions Inc. (NASDAQ:ACVA)

Rhumbline Advisers increased its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 206,395 shares of the company’s stock after purchasing an additional 4,212 shares during the period. Rhumbline Advisers owned approximately 0.12% of ACV Auctions worth $4,458,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ACVA. Blue Trust Inc. increased its holdings in shares of ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after purchasing an additional 884 shares during the last quarter. Icon Wealth Advisors LLC raised its stake in ACV Auctions by 13.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company’s stock valued at $225,000 after acquiring an additional 1,317 shares during the period. Los Angeles Capital Management LLC increased its position in shares of ACV Auctions by 6.6% during the third quarter. Los Angeles Capital Management LLC now owns 26,958 shares of the company’s stock valued at $548,000 after buying an additional 1,670 shares during the period. Franklin Resources Inc. lifted its position in ACV Auctions by 5.3% during the third quarter. Franklin Resources Inc. now owns 40,935 shares of the company’s stock valued at $768,000 after purchasing an additional 2,057 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in 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 purchasing an additional 3,022 shares during the period. 88.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barrington Research reissued an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a research report on Monday, November 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of ACV Auctions in a research note on Monday, December 16th. Stephens raised ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. B. Riley lifted their price target on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Citigroup upped their price objective on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.35.

ACV Auctions Stock Down 2.2 %

Shares of NASDAQ ACVA opened at $16.09 on Friday. The company has a 50 day simple moving average of $20.82 and a 200-day simple moving average of $20.14. 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 capitalization of $2.70 billion, a P/E ratio of -32.84 and a beta of 1.69. ACV Auctions Inc. has a 1 year low of $14.76 and a 1 year high of $23.46.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The company had revenue of $159.51 million for the quarter, compared to the consensus estimate of $156.77 million. On average, equities research analysts predict that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

Insider Buying and Selling at ACV Auctions

In other news, insider Michael Waterman sold 30,162 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total value of $619,225.86. Following the sale, the insider now directly owns 314,738 shares in the company, valued at $6,461,571.14. This represents a 8.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Zerella sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $20.57, for a total transaction of $308,550.00. Following the sale, the chief financial officer now owns 462,452 shares in the company, valued at approximately $9,512,637.64. This trade represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,662 shares of company stock worth $1,935,451. 8.50% of the stock is owned by insiders.

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.