Vestmark Advisory Solutions Inc. Purchases 4,563 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Vestmark Advisory Solutions Inc. grew its position in ACV Auctions Inc. (NASDAQ:ACVA) by 21.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,006 shares of the company’s stock after buying an additional 4,563 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in ACV Auctions were worth $562,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. boosted its stake in ACV Auctions by 65.8% in the 4th quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock worth $48,000 after purchasing an additional 933 shares in the last quarter. Icon Wealth Advisors LLC boosted 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 worth $225,000 after purchasing an additional 1,317 shares in the last quarter. Arizona State Retirement System boosted its stake in ACV Auctions by 3.6% in the 4th quarter. Arizona State Retirement System now owns 44,126 shares of the company’s stock worth $953,000 after purchasing an additional 1,520 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in ACV Auctions by 6.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 26,958 shares of the company’s stock worth $548,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in ACV Auctions by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 40,935 shares of the company’s stock worth $768,000 after purchasing an additional 2,057 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO William Zerella sold 15,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $20.57, for a total transaction of $308,550.00. Following the completion of the sale, the chief financial officer now owns 462,452 shares of the company’s stock, valued at $9,512,637.64. This represents a 3.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Waterman sold 30,162 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total transaction of $619,225.86. Following the sale, the insider now directly owns 314,738 shares of the company’s stock, valued at $6,461,571.14. The trade was a 8.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,662 shares of company stock worth $1,935,451. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $25.00 target price on shares of ACV Auctions in a research note on Monday, December 16th. Citigroup raised their price target on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Needham & Company LLC reduced their price target on shares of ACV Auctions from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. B. Riley raised their price target on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Stephens raised shares of ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.35.

ACV Auctions Price Performance

NASDAQ:ACVA opened at $14.11 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -28.80 and a beta of 1.73. The company has a 50 day moving average price of $20.00 and a 200-day moving average price of $20.00. ACV Auctions Inc. has a 1-year low of $13.02 and a 1-year high of $23.46.

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

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.