Handelsbanken Fonder AB Has $383,000 Stake in ACV Auctions Inc. (NASDAQ:ACVA)

Handelsbanken Fonder AB grew its holdings in ACV Auctions Inc. (NASDAQ:ACVA) by 27.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 25,300 shares of the company’s stock after acquiring an additional 5,400 shares during the period. Handelsbanken Fonder AB’s holdings in ACV Auctions were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ACVA. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ACV Auctions by 28.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,337 shares of the company’s stock worth $400,000 after purchasing an additional 5,901 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of ACV Auctions by 292.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 202,088 shares of the company’s stock worth $3,068,000 after purchasing an additional 150,619 shares during the period. Deepwater Asset Management LLC increased its stake in shares of ACV Auctions by 14.3% during the third quarter. Deepwater Asset Management LLC now owns 709,523 shares of the company’s stock worth $10,771,000 after purchasing an additional 89,022 shares during the period. Roubaix Capital LLC increased its stake in shares of ACV Auctions by 13.6% during the third quarter. Roubaix Capital LLC now owns 243,719 shares of the company’s stock worth $3,700,000 after purchasing an additional 29,239 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of ACV Auctions during the third quarter worth approximately $72,000. 88.55% of the stock is owned by institutional investors and hedge funds.

ACV Auctions Trading Down 3.1 %

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

ACV Auctions (NASDAQ:ACVA) last issued its 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. The firm had revenue of $118.38 million for the quarter, compared to the consensus estimate of $117.62 million. ACV Auctions had a negative return on equity of 13.97% and a negative net margin of 15.64%. Equities analysts predict that ACV Auctions Inc. will post -0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at ACV Auctions

In other ACV Auctions news, COO Vikas Mehta sold 333,497 shares of ACV Auctions stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $18.62, for a total transaction of $6,209,714.14. Following the transaction, the chief operating officer now directly owns 333,327 shares of the company’s stock, valued at approximately $6,206,548.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Craig Eric Anderson sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $18.00, for a total value of $90,000.00. Following the completion of the sale, the insider now directly owns 202,797 shares of the company’s stock, valued at approximately $3,650,346. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Vikas Mehta sold 333,497 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $18.62, for a total value of $6,209,714.14. Following the completion of the sale, the chief operating officer now directly owns 333,327 shares of the company’s stock, valued at $6,206,548.74. The disclosure for this sale can be found here. Insiders have sold a total of 1,507,708 shares of company stock valued at $27,126,374 in the last 90 days. 13.67% of the stock is owned by corporate 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.