Arvin Capital Management LP Decreases Stock Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Arvin Capital Management LP lessened its holdings in ACV Auctions Inc. (NASDAQ:ACVA) by 84.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,130 shares of the company’s stock after selling 342,131 shares during the period. ACV Auctions makes up about 0.4% of Arvin Capital Management LP’s investment portfolio, making the stock its 29th largest position. Arvin Capital Management LP’s holdings in ACV Auctions were worth $1,407,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ACVA. Raymond James Financial Inc. purchased a new position in shares of ACV Auctions during the 4th quarter worth about $4,704,000. Intech Investment Management LLC grew its stake in shares of ACV Auctions by 55.7% during the fourth quarter. Intech Investment Management LLC now owns 62,395 shares of the company’s stock valued at $1,348,000 after buying an additional 22,310 shares during the last quarter. Moody National Bank Trust Division raised its holdings in shares of ACV Auctions by 64.6% in the fourth quarter. Moody National Bank Trust Division now owns 79,199 shares of the company’s stock worth $1,711,000 after buying an additional 31,094 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in ACV Auctions by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,289,362 shares of the company’s stock valued at $27,850,000 after acquiring an additional 48,021 shares during the period. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of ACV Auctions by 6.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,891,627 shares of the company’s stock worth $40,859,000 after buying an additional 118,421 shares during the period. Institutional investors own 88.55% of the company’s stock.

Insiders Place Their Bets

In other ACV Auctions news, CFO William Zerella sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $13.53, for a total transaction of $202,950.00. Following the completion of the transaction, the chief financial officer now directly owns 766,266 shares in the company, valued at approximately $10,367,578.98. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO George Chamoun sold 348,249 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,821,193 shares of the company’s stock, valued at $43,277,100.62. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 378,249 shares of company stock worth $5,849,140. Company insiders own 8.50% of the company’s stock.

ACV Auctions Stock Performance

Shares of ACVA stock opened at $13.92 on Tuesday. ACV Auctions Inc. has a 52-week low of $11.88 and a 52-week 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 stock has a market cap of $2.35 billion, a PE ratio of -28.41 and a beta of 1.74. The business has a 50-day simple moving average of $15.42 and a 200-day simple moving average of $18.82.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $159.51 million during 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%. On average, equities analysts expect that ACV Auctions Inc. will post -0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

ACVA has been the subject of several recent research reports. Piper Sandler upgraded shares of ACV Auctions from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $18.00 to $20.00 in a report on Thursday, March 20th. JMP Securities decreased their price objective on ACV Auctions from $22.00 to $18.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 9th. Stephens upgraded shares of ACV Auctions to a “hold” rating in a report on Saturday, February 1st. JPMorgan Chase & Co. cut their price objective on shares of 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, Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of ACV Auctions in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, ACV Auctions currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

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.