Swiss National Bank Purchases 10,600 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Swiss National Bank increased its position in ACV Auctions Inc. (NASDAQ:ACVA) by 3.7% during the fourth quarter, Holdings Channel reports. The firm owned 299,400 shares of the company’s stock after buying an additional 10,600 shares during the quarter. Swiss National Bank’s holdings in ACV Auctions were worth $6,467,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Blue Trust Inc. increased its position 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 increased its holdings in shares of ACV Auctions by 80.4% during the 4th quarter. KBC Group NV now owns 7,406 shares of the company’s stock worth $160,000 after acquiring an additional 3,300 shares during the last quarter. Icon Wealth Advisors LLC raised its stake in ACV Auctions by 13.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company’s stock valued at $225,000 after acquiring an additional 1,317 shares during the period. Versor Investments LP acquired a new stake in ACV Auctions during the 4th quarter valued at $262,000. Finally, Atria Investments Inc acquired a new position in shares of ACV Auctions in the fourth quarter valued at $333,000. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Price Performance

ACV Auctions stock opened at $15.31 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. ACV Auctions Inc. has a 52 week low of $12.77 and a 52 week high of $23.46. The stock has a market capitalization of $2.58 billion, a P/E ratio of -31.24 and a beta of 1.73. The stock has a fifty day moving average of $18.65 and a 200-day moving average of $19.71.

ACV Auctions (NASDAQ:ACVA) last posted its earnings results on Wednesday, February 19th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The firm had revenue of $159.51 million during the quarter, compared to analysts’ expectations of $156.77 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. On average, sell-side analysts expect that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at ACV Auctions

In related news, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $21.65, for a total value of $703,625.00. Following the sale, the chief financial officer now owns 490,482 shares of the company’s stock, valued at $10,618,935.30. The trade was a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Waterman sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $20.27, for a total value of $304,050.00. Following the transaction, the insider now directly owns 311,354 shares of the company’s stock, valued at approximately $6,311,145.58. This represents a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 455,911 shares of company stock worth $7,480,541 over the last quarter. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup lifted their target price on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. JMP Securities restated a “market outperform” rating and set a $25.00 price objective on shares of ACV Auctions in a report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of ACV Auctions in a research report on Wednesday, March 12th. Piper Sandler raised ACV Auctions from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $20.00 in a report on Thursday. Finally, Bank of America upgraded ACV Auctions from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $22.00 to $20.00 in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, ACV Auctions has a consensus rating of “Moderate Buy” and a consensus target price of $23.23.

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.