Royce & Associates LP Has $7.91 Million Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Royce & Associates LP decreased its position in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 54.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 366,200 shares of the company’s stock after selling 432,474 shares during the period. Royce & Associates LP owned 0.22% of ACV Auctions worth $7,910,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Spyglass Capital Management LLC lifted its position in shares of ACV Auctions by 69.1% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,614,245 shares of the company’s stock worth $53,148,000 after purchasing an additional 1,068,356 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of ACV Auctions during the third quarter worth approximately $21,540,000. Massachusetts Financial Services Co. MA boosted its position 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 during the period. Jennison Associates LLC grew its stake in shares of 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 acquiring an additional 732,422 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in ACV Auctions by 100.0% during the fourth quarter. New York State Common Retirement Fund now owns 753,296 shares of the company’s stock worth $16,271,000 after acquiring an additional 376,557 shares during the period. 88.55% of the stock is currently owned by institutional investors.

ACV Auctions Stock Down 4.1 %

NASDAQ ACVA opened at $14.10 on Wednesday. The stock has a market capitalization of $2.38 billion, a P/E ratio of -28.78 and a beta of 1.73. ACV Auctions Inc. has a 52 week low of $12.77 and a 52 week high of $23.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a fifty day moving average of $19.00 and a 200-day moving average of $19.78.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $159.51 million during the quarter, compared to analyst estimates of $156.77 million. On average, equities research analysts forecast that ACV Auctions Inc. will post -0.07 EPS for the current year.

Insider Buying and Selling

In other ACV Auctions news, CFO William Zerella sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.57, for a total value of $308,550.00. Following the transaction, the chief financial officer now directly owns 462,452 shares of the company’s stock, valued at approximately $9,512,637.64. This trade represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Waterman sold 30,162 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total transaction of $619,225.86. Following the sale, the insider now owns 314,738 shares of the company’s stock, valued at $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 a total of 107,662 shares of company stock valued at $2,138,401 over the last ninety days. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ACVA. Stephens upgraded ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. JMP Securities restated a “market outperform” rating and issued a $25.00 price target on shares of ACV Auctions in a research report on Monday, December 16th. Bank of America upgraded shares of 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. B. Riley increased their price target on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of ACV Auctions in a research note on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and eight 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 an average price target of $23.05.

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.