Loomis Sayles & Co. L P Sells 77,653 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Loomis Sayles & Co. L P lessened its stake in ACV Auctions Inc. (NASDAQ:ACVA) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,657,402 shares of the company’s stock after selling 77,653 shares during the period. Loomis Sayles & Co. L P’s holdings in ACV Auctions were worth $57,400,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of ACV Auctions by 65.8% during the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock valued at $48,000 after acquiring an additional 933 shares during the period. KBC Group NV lifted its position in ACV Auctions by 80.4% during the 4th quarter. KBC Group NV now owns 7,406 shares of the company’s stock valued at $160,000 after purchasing an additional 3,300 shares during the period. Icon Wealth Advisors LLC boosted its stake in shares of 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 purchasing an additional 1,317 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of ACV Auctions during the 4th quarter worth approximately $226,000. Finally, Xponance Inc. bought a new stake in shares of ACV Auctions during the fourth quarter worth approximately $229,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ACVA. Piper Sandler raised shares of ACV Auctions from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $20.00 in a report on Thursday, March 20th. Stephens raised ACV Auctions to a “hold” rating in a research note on Saturday, February 1st. Bank of America upgraded ACV Auctions from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $22.00 to $20.00 in a report on Wednesday, March 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price target on shares of ACV Auctions in a research note on Wednesday, March 12th. Finally, Citigroup lifted 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. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.23.

Insider Transactions at ACV Auctions

In other news, insider Michael Waterman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total transaction of $304,050.00. Following the completion of the transaction, the insider now directly owns 311,354 shares in the company, valued at $6,311,145.58. This represents a 4.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $21.65, for a total value of $703,625.00. Following the completion of the transaction, the chief financial officer now owns 490,482 shares of the company’s stock, valued at $10,618,935.30. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 455,911 shares of company stock valued at $7,480,541 in the last ninety days. 8.50% of the stock is currently owned by corporate insiders.

ACV Auctions Stock Down 6.2 %

Shares of ACVA stock opened at $15.35 on Thursday. ACV Auctions Inc. has a 12-month low of $12.77 and a 12-month high of $23.46. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average of $18.34 and a 200-day moving average of $19.66. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -31.32 and a beta of 1.73.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating 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 return on equity of 12.94% and a negative net margin of 12.51%. As a group, equities research analysts predict that ACV Auctions Inc. will post -0.07 earnings per share 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.