Handelsbanken Fonder AB Raises Stake in ACV Auctions Inc. (NASDAQ:ACVA)

Handelsbanken Fonder AB lifted its position in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 27.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 25,300 shares of the company’s stock after purchasing an additional 5,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in ACV Auctions were worth $383,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ACVA. Parkside Financial Bank & Trust purchased a new position in ACV Auctions in the 3rd quarter worth approximately $66,000. Allspring Global Investments Holdings LLC purchased a new position in ACV Auctions in the 3rd quarter worth approximately $72,000. Versor Investments LP boosted its holdings in ACV Auctions by 19.5% in the 3rd quarter. Versor Investments LP now owns 11,974 shares of the company’s stock worth $182,000 after acquiring an additional 1,950 shares during the period. Greycroft LP purchased a new position in ACV Auctions in the 3rd quarter worth approximately $231,000. Finally, Algert Global LLC purchased a new position in ACV Auctions in the 3rd quarter worth approximately $307,000. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Analyst Upgrades and Downgrades

ACVA has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $19.00 target price on shares of ACV Auctions in a research report on Wednesday, April 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Thursday, February 22nd. Finally, Northcoast Research raised ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, ACV Auctions currently has an average rating of “Moderate Buy” and an average price target of $20.21.

ACV Auctions Stock Performance

ACVA stock opened at $16.91 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -36.76 and a beta of 1.57. ACV Auctions Inc. has a 1 year low of $12.84 and a 1 year high of $19.54. The stock’s fifty day moving average is $17.90 and its two-hundred day moving average is $15.62.

ACV Auctions (NASDAQ:ACVA) last posted its earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The company had revenue of $118.38 million for the quarter, compared to analysts’ expectations of $117.62 million. ACV Auctions had a negative return on equity of 13.97% and a negative net margin of 15.64%. On average, research analysts predict that ACV Auctions Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $17.17, for a total value of $558,025.00. Following the sale, the chief financial officer now directly owns 314,151 shares in the company, valued at $5,393,972.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Craig Eric Anderson sold 7,500 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $18.50, for a total transaction of $138,750.00. Following the transaction, the insider now directly owns 194,525 shares of the company’s stock, valued at $3,598,712.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $17.17, for a total value of $558,025.00. Following the transaction, the chief financial officer now directly owns 314,151 shares in the company, valued at $5,393,972.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,507,708 shares of company stock worth $27,126,374. 13.67% of the stock is owned by insiders.

About ACV Auctions

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.