Main Management ETF Advisors LLC Has $954,000 Stock Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Main Management ETF Advisors LLC decreased its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,144 shares of the company’s stock after selling 3,968 shares during the quarter. Main Management ETF Advisors LLC’s holdings in ACV Auctions were worth $954,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ACVA. Blue Trust Inc. increased its holdings in ACV Auctions by 65.8% during the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock worth $48,000 after buying an additional 933 shares during the last quarter. KBC Group NV raised its holdings in ACV Auctions by 80.4% in the 4th quarter. KBC Group NV now owns 7,406 shares of the company’s stock valued at $160,000 after acquiring an additional 3,300 shares during the period. LPL Financial LLC acquired a new stake in ACV Auctions during the fourth quarter worth approximately $226,000. Xponance Inc. bought a new stake in shares of ACV Auctions during the fourth quarter worth approximately $229,000. Finally, Versor Investments LP bought a new position in shares of ACV Auctions during the fourth quarter worth approximately $262,000. Institutional investors own 88.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Bank of America raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and cut their price objective for the company from $22.00 to $20.00 in a report on Wednesday, March 12th. Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of ACV Auctions in a research report on Thursday, May 8th. Stephens raised shares of ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. JMP Securities dropped their target price 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. Finally, JPMorgan Chase & Co. reduced their price target 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. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, ACV Auctions has an average rating of “Moderate Buy” and an average target price of $22.50.

Insider Activity at ACV Auctions

In other news, CFO William Zerella sold 15,000 shares of ACV Auctions 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 transaction, the chief financial officer now owns 766,266 shares in the company, valued at approximately $10,367,578.98. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Chamoun sold 348,249 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 2,821,193 shares in the company, valued at approximately $43,277,100.62. This represents a 10.99% decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by company insiders.

ACV Auctions Stock Up 1.0%

Shares of NASDAQ:ACVA opened at $16.97 on Wednesday. ACV Auctions Inc. has a 52-week low of $11.88 and a 52-week high of $23.46. The company has a market capitalization of $2.86 billion, a PE ratio of -34.63 and a beta of 1.72. 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 company has a fifty day moving average of $14.66 and a 200-day moving average of $18.46.

ACV Auctions (NASDAQ:ACVA) last issued its 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 period last year, the firm posted ($0.13) earnings per share. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. On average, equities analysts predict that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

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.