ACV Auctions Inc. (NYSE:ACVA – Get Free Report)’s share price traded up 5.7% during trading on Friday . The company traded as high as $5.93 and last traded at $6.0450. 1,057,999 shares were traded during trading, a decline of 68% from the average session volume of 3,267,932 shares. The stock had previously closed at $5.72.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Barrington Research upgraded shares of ACV Auctions from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 24th. The Goldman Sachs Group cut their price objective on shares of ACV Auctions from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Royal Bank Of Canada upgraded ACV Auctions to an “outperform” rating in a research report on Tuesday, February 24th. B. Riley Financial reduced their target price on ACV Auctions from $17.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ACV Auctions in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, ACV Auctions has a consensus rating of “Moderate Buy” and an average target price of $10.45.
View Our Latest Research Report on ACV Auctions
ACV Auctions Trading Up 2.4%
ACV Auctions (NYSE:ACVA – Get Free Report) last released its earnings results on Monday, February 23rd. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). ACV Auctions had a negative net margin of 7.97% and a negative return on equity of 5.52%. The business had revenue of $183.65 million during the quarter, compared to analyst estimates of $181.96 million. During the same period last year, the business posted ($0.16) EPS. ACV Auctions’s revenue was up 15.2% compared to the same quarter last year. On average, equities analysts anticipate that ACV Auctions Inc. will post -0.19 EPS for the current fiscal year.
Insider Buying and Selling
In other ACV Auctions news, CEO George Chamoun bought 24,272 shares of ACV Auctions stock in a transaction on Monday, March 9th. The stock was bought at an average price of $5.05 per share, with a total value of $122,573.60. Following the completion of the acquisition, the chief executive officer owned 2,952,977 shares in the company, valued at $14,912,533.85. The trade was a 0.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.90% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Atreides Management LP increased its position in shares of ACV Auctions by 125.2% in the fourth quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock valued at $99,543,000 after buying an additional 6,901,010 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of ACV Auctions by 3.3% during the 3rd quarter. William Blair Investment Management LLC now owns 11,471,709 shares of the company’s stock worth $113,685,000 after purchasing an additional 362,003 shares during the last quarter. Wasatch Advisors LP raised its position in shares of ACV Auctions by 301.0% during the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock worth $118,331,000 after purchasing an additional 5,475,874 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in ACV Auctions by 30.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company’s stock valued at $62,803,000 after buying an additional 1,475,932 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in ACV Auctions by 14.1% in the 3rd quarter. Alliancebernstein L.P. now owns 6,332,313 shares of the company’s stock valued at $62,753,000 after buying an additional 784,411 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.
ACV Auctions Company Profile
ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.
In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.
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