Sei Investments Co. Decreases Holdings in ACV Auctions Inc. $ACVA

Sei Investments Co. trimmed its position in shares of ACV Auctions Inc. (NYSE:ACVA) by 63.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 152,364 shares of the company’s stock after selling 263,996 shares during the quarter. Sei Investments Co.’s holdings in ACV Auctions were worth $646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Atreides Management LP grew its holdings in shares of ACV Auctions by 125.2% in the fourth quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock worth $99,543,000 after acquiring an additional 6,901,010 shares during the period. Wasatch Advisors LP lifted its holdings in ACV Auctions by 301.0% in the second quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock valued at $118,331,000 after acquiring an additional 5,475,874 shares during the period. Alliancebernstein L.P. lifted its holdings in ACV Auctions by 14.1% in the third quarter. Alliancebernstein L.P. now owns 6,332,313 shares of the company’s stock valued at $62,753,000 after acquiring an additional 784,411 shares during the period. Jennison Associates LLC boosted its position in ACV Auctions by 1.5% in the fourth quarter. Jennison Associates LLC now owns 5,766,578 shares of the company’s stock worth $46,248,000 after purchasing an additional 87,959 shares during the last quarter. Finally, State Street Corp boosted its position in ACV Auctions by 3.2% in the fourth quarter. State Street Corp now owns 3,853,014 shares of the company’s stock worth $30,901,000 after purchasing an additional 119,079 shares during the last quarter. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACVA has been the subject of several research reports. Barclays lowered shares of ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 price target for the company. in a research report on Tuesday. Barrington Research raised shares of ACV Auctions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Stephens upgraded shares of ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 target price for the company in a research report on Tuesday. Bank of America restated an “underperform” rating on shares of ACV Auctions in a research report on Tuesday. Finally, Weiss Ratings raised shares of ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, ACV Auctions presently has an average rating of “Hold” and an average target price of $9.35.

ACV Auctions Stock Performance

NYSE:ACVA opened at $8.22 on Friday. The stock has a 50-day simple moving average of $7.15 and a two-hundred day simple moving average of $6.17. ACV Auctions Inc. has a 52-week low of $4.07 and a 52-week high of $12.21. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.47 and a current ratio of 1.52. The firm has a market capitalization of $1.40 billion, a PE ratio of -22.84 and a beta of 1.82.

About ACV Auctions

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.