Atria Investments Inc Acquires Shares of 15,420 ACV Auctions Inc. (NASDAQ:ACVA)

Atria Investments Inc bought a new position in ACV Auctions Inc. (NASDAQ:ACVA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 15,420 shares of the company’s stock, valued at approximately $333,000.

A number of other institutional investors have also modified their holdings of ACVA. Principal Financial Group Inc. grew its stake in ACV Auctions by 4.9% in the third 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 in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of ACV Auctions in the 3rd quarter worth $562,000. Jennison Associates LLC grew its position in shares of ACV Auctions by 6.8% during the 3rd quarter. Jennison Associates LLC now owns 4,247,932 shares of the company’s stock worth $86,360,000 after buying an additional 271,970 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of ACV Auctions during the third quarter valued at $815,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of ACV Auctions by 11.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company’s stock valued at $175,969,000 after acquiring an additional 897,477 shares in the last quarter. 88.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO William Zerella sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $13.53, for a total value of $202,950.00. Following the completion of the transaction, the chief financial officer now owns 766,266 shares in the company, valued at $10,367,578.98. This trade represents a 1.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Waterman sold 30,162 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total value of $619,225.86. Following the sale, the insider now owns 314,738 shares in the company, valued at approximately $6,461,571.14. The trade was a 8.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,662 shares of company stock worth $2,138,401 in the last three months. Corporate insiders own 8.50% of the company’s stock.

ACV Auctions Stock Performance

Shares of ACVA opened at $14.71 on Tuesday. ACV Auctions Inc. has a 12 month low of $12.77 and a 12 month high of $23.46. The stock has a fifty day moving average price of $19.12 and a 200-day moving average price of $19.82. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The firm has a market cap of $2.48 billion, a PE ratio of -30.02 and a beta of 1.73.

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

Analysts Set New Price Targets

Several research analysts have issued reports on ACVA shares. Citigroup increased their target price on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. B. Riley increased their price objective 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. Stephens raised shares of ACV Auctions to a “hold” rating in a research note on Saturday, February 1st. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of ACV Auctions in a report on Wednesday, March 12th. Finally, Bank of America upgraded ACV Auctions from a “neutral” rating to a “buy” rating and cut their price target for the company from $22.00 to $20.00 in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.05.

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.