Numerai GP LLC Lowers Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Numerai GP LLC lowered its position in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,302 shares of the company’s stock after selling 764 shares during the period. Numerai GP LLC’s holdings in ACV Auctions were worth $331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in ACVA. Vanguard Group Inc. grew its holdings in ACV Auctions by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 14,245,915 shares of the company’s stock worth $307,712,000 after acquiring an additional 738,391 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of ACV Auctions by 43.2% during the fourth quarter. William Blair Investment Management LLC now owns 12,099,686 shares of the company’s stock valued at $261,353,000 after purchasing an additional 3,652,871 shares in the last quarter. Alliancebernstein L.P. increased its holdings in ACV Auctions by 5.3% during the fourth quarter. Alliancebernstein L.P. now owns 5,622,255 shares of the company’s stock valued at $121,441,000 after buying an additional 284,880 shares during the period. Jennison Associates LLC raised its stake in ACV Auctions by 17.2% in the fourth quarter. Jennison Associates LLC now owns 4,980,354 shares of the company’s stock worth $107,576,000 after buying an additional 732,422 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in ACV Auctions by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 3,575,347 shares of the company’s stock worth $77,246,000 after buying an additional 58,259 shares during the period. 88.55% of the stock is currently owned by institutional investors.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $16.97 on Friday. The company has a 50 day moving average price of $14.79 and a 200 day moving average price of $18.44. The firm has a market capitalization of $2.86 billion, a P/E ratio of -34.63 and a beta of 1.72. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. ACV Auctions Inc. has a 52 week low of $11.88 and a 52 week high of $23.46.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. ACV Auctions’s revenue for the quarter was up 25.4% on a year-over-year basis. Sell-side analysts expect that ACV Auctions Inc. will post -0.07 EPS for the current year.

Insider Activity at ACV Auctions

In other ACV Auctions news, insider Michael Waterman sold 223,330 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $17.00, for a total transaction of $3,796,610.00. Following the sale, the insider now owns 466,548 shares in the company, valued at approximately $7,931,316. The trade was a 32.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Chamoun sold 348,249 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $15.34, for a total value of $5,342,139.66. Following the completion of the transaction, the chief executive officer now directly owns 2,821,193 shares in the company, valued at $43,277,100.62. This represents a 10.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 586,579 shares of company stock valued at $9,341,700 in the last ninety days. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on ACV Auctions from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Bank of America upgraded ACV Auctions from a “neutral” rating to a “buy” rating and cut their target price for the company from $22.00 to $20.00 in a research note on Wednesday, March 12th. JMP Securities decreased their price target on shares of ACV Auctions from $22.00 to $18.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 9th. Stephens raised shares of ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of ACV Auctions in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

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.