Deutsche Bank AG Sells 109,456 Shares of ACV Auctions Inc. $ACVA

Deutsche Bank AG reduced its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 41.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,224 shares of the company’s stock after selling 109,456 shares during the quarter. Deutsche Bank AG owned about 0.09% of ACV Auctions worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in ACV Auctions during the 1st quarter valued at approximately $364,000. Tempus Wealth Planning LLC purchased a new stake in ACV Auctions during the 1st quarter valued at approximately $277,000. Raymond James Financial Inc. purchased a new stake in ACV Auctions during the 4th quarter valued at approximately $4,704,000. XTX Topco Ltd grew its holdings in ACV Auctions by 270.6% during the 1st quarter. XTX Topco Ltd now owns 80,355 shares of the company’s stock valued at $1,132,000 after buying an additional 58,674 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ACV Auctions by 27.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 269,394 shares of the company’s stock valued at $5,819,000 after buying an additional 58,138 shares in the last quarter. 88.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, insider Craig Eric Anderson sold 15,000 shares of ACV Auctions stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total transaction of $225,600.00. Following the completion of the transaction, the insider directly owned 340,799 shares of the company’s stock, valued at $5,125,616.96. The trade was a 4.22% 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 34,339 shares of ACV Auctions stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $16.05, for a total transaction of $551,140.95. Following the transaction, the insider directly owned 379,957 shares of the company’s stock, valued at $6,098,309.85. The trade was a 8.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ACVA shares. Bank of America cut their price objective on shares of ACV Auctions from $20.00 to $16.50 and set a “buy” rating for the company in a report on Tuesday, August 12th. Citigroup cut their target price on shares of ACV Auctions from $21.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. The Goldman Sachs Group cut their target price on shares of ACV Auctions from $26.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Stephens cut their target price on shares of ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating for the company in a report on Tuesday, August 12th. Finally, Needham & Company LLC cut their target price on shares of ACV Auctions from $25.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, ACV Auctions has an average rating of “Moderate Buy” and a consensus target price of $19.67.

ACV Auctions Stock Down 1.3%

NASDAQ ACVA opened at $11.3560 on Thursday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $14.78 and a two-hundred day moving average of $15.69. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -23.18 and a beta of 1.69. ACV Auctions Inc. has a 52 week low of $10.26 and a 52 week high of $23.46.

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.