Mirae Asset Global Investments Co. Ltd. Buys 4,784 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 2.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 206,872 shares of the company’s stock after purchasing an additional 4,784 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ACV Auctions were worth $3,134,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of ACV Auctions by 8.6% during the third quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company’s stock valued at $194,445,000 after acquiring an additional 1,010,941 shares during the last quarter. FMR LLC increased its position in shares of ACV Auctions by 9.4% during the third quarter. FMR LLC now owns 11,763,945 shares of the company’s stock worth $178,577,000 after buying an additional 1,011,236 shares during the period. Atreides Management LP grew its holdings in ACV Auctions by 5.8% in the third quarter. Atreides Management LP now owns 10,829,070 shares of the company’s stock worth $164,385,000 after purchasing an additional 594,347 shares during the period. BlackRock Inc. grew its holdings in ACV Auctions by 9.6% in the second quarter. BlackRock Inc. now owns 8,801,884 shares of the company’s stock worth $152,009,000 after purchasing an additional 770,630 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in ACV Auctions by 4,360.9% in the second quarter. Alliancebernstein L.P. now owns 5,121,100 shares of the company’s stock worth $88,441,000 after purchasing an additional 5,006,300 shares during the period. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Stock Up 2.9 %

ACV Auctions stock opened at $17.80 on Thursday. ACV Auctions Inc. has a 1-year low of $11.58 and a 1-year high of $19.54. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -38.70 and a beta of 1.57. The firm’s fifty day moving average price is $17.27 and its two-hundred day moving average price is $15.42. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.25.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ACVA shares. Northcoast Research upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a report on Wednesday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of ACV Auctions in a report on Thursday, February 22nd. Finally, JMP Securities restated a “market outperform” rating and issued a $19.00 price target on shares of ACV Auctions in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, ACV Auctions has a consensus rating of “Moderate Buy” and a consensus target price of $20.21.

Insider Buying and Selling

In related news, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $17.17, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO George Chamoun sold 124,999 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $18.42, for a total transaction of $2,302,481.58. Following the transaction, the chief executive officer now directly owns 597,921 shares in the company, valued at $11,013,704.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $17.17, for a total transaction of $558,025.00. Following the transaction, the chief financial officer now 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 ninety days, insiders have sold 1,507,708 shares of company stock worth $27,126,374. 13.67% of the stock is owned by insiders.

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.