Osterweis Capital Management Inc. Makes New $11.64 Million Investment in ACV Auctions Inc. (NASDAQ:ACVA)

Osterweis Capital Management Inc. purchased a new stake in ACV Auctions Inc. (NASDAQ:ACVA) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 538,910 shares of the company’s stock, valued at approximately $11,640,000.

Other institutional investors have also modified their holdings of the company. Marshall Wace LLP acquired a new position in ACV Auctions during the 4th quarter worth $536,000. Barclays PLC increased its stake in shares of ACV Auctions by 9.0% during the fourth quarter. Barclays PLC now owns 266,951 shares of the company’s stock worth $5,766,000 after buying an additional 21,952 shares during the period. Inflection Point Investments LLP increased its stake in shares of ACV Auctions by 19.3% during the fourth quarter. Inflection Point Investments LLP now owns 422,919 shares of the company’s stock worth $9,135,000 after buying an additional 68,309 shares during the period. Next Century Growth Investors LLC raised its holdings in ACV Auctions by 0.4% in the fourth quarter. Next Century Growth Investors LLC now owns 1,320,228 shares of the company’s stock valued at $28,517,000 after acquiring an additional 5,109 shares in the last quarter. Finally, CenterBook Partners LP purchased a new position in ACV Auctions in the fourth quarter worth approximately $381,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ACVA. JMP Securities reduced their price objective on shares of ACV Auctions from $22.00 to $18.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. Bank of America raised ACV Auctions from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $22.00 to $20.00 in a report on Wednesday, March 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of ACV Auctions in a research report on Wednesday, March 12th. JPMorgan Chase & Co. cut their target price on ACV Auctions from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Finally, Stephens raised ACV Auctions to a “hold” rating in a report on Saturday, February 1st. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.50.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $13.53, for a total value of $202,950.00. Following the transaction, the chief financial officer now directly owns 766,266 shares of the company’s stock, valued at approximately $10,367,578.98. The trade was a 1.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO George Chamoun sold 348,249 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $15.34, for a total transaction of $5,342,139.66. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 378,249 shares of company stock valued at $5,849,140 in the last ninety days. Insiders own 8.50% of the company’s stock.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $14.13 on Thursday. The firm’s fifty day simple moving average is $15.86 and its 200-day simple moving average is $18.94. ACV Auctions Inc. has a 12 month low of $11.88 and a 12 month high of $23.46. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -28.84 and a beta of 1.74. 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 posted 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 analyst estimates of $156.77 million. As a group, equities analysts forecast that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

ACV Auctions 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.