Brown Advisory Inc. Has $748,000 Stock Position in ACV Auctions Inc. (NASDAQ:ACVA)

Brown Advisory Inc. lowered its position in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 3.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,058 shares of the company’s stock after selling 1,842 shares during the quarter. Brown Advisory Inc.’s holdings in ACV Auctions were worth $748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc raised its stake in ACV Auctions by 464.4% in the first quarter. Versant Capital Management Inc now owns 2,201 shares of the company’s stock valued at $31,000 after purchasing an additional 1,811 shares in the last quarter. GAMMA Investing LLC raised its stake in ACV Auctions by 3,005.8% in the first quarter. GAMMA Investing LLC now owns 5,932 shares of the company’s stock valued at $84,000 after purchasing an additional 5,741 shares in the last quarter. Bessemer Group Inc. raised its stake in ACV Auctions by 14.5% in the first quarter. Bessemer Group Inc. now owns 9,911 shares of the company’s stock valued at $140,000 after purchasing an additional 1,257 shares in the last quarter. Integrated Advisors Network LLC acquired a new position in ACV Auctions in the fourth quarter valued at about $200,000. Finally, Mackenzie Financial Corp acquired a new position in ACV Auctions in the fourth quarter valued at about $206,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

Insider Activity at ACV Auctions

In related news, insider Michael Waterman sold 223,330 shares of ACV Auctions stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $17.00, for a total value of $3,796,610.00. Following the transaction, the insider directly owned 466,548 shares of the company’s stock, valued at $7,931,316. The trade was a 32.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

ACV Auctions Stock Performance

NASDAQ:ACVA opened at $16.30 on Tuesday. The stock has a market cap of $2.79 billion, a P/E ratio of -33.26 and a beta of 1.71. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average is $16.33 and its 200-day moving average is $17.05. ACV Auctions Inc. has a 1-year low of $11.88 and a 1-year high of $23.46.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.13). ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. ACV Auctions’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.13) EPS. Equities research analysts anticipate that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

Wall Street Analyst Weigh In

ACVA has been the subject of a number of analyst reports. Piper Sandler raised ACV Auctions from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $18.00 to $20.00 in a research note on Thursday, March 20th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of ACV Auctions in a research report on Thursday, May 8th. JMP Securities lifted their target price on ACV Auctions from $18.00 to $20.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 2nd. Citigroup decreased their target price on ACV Auctions from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, July 7th. Finally, JPMorgan Chase & Co. decreased their target price on ACV Auctions from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.14.

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.