616,190 Shares in ACV Auctions Inc. $ACVA Bought by Arvin Capital Management LP

Arvin Capital Management LP purchased a new stake in ACV Auctions Inc. (NASDAQ:ACVA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 616,190 shares of the company’s stock, valued at approximately $6,106,000. ACV Auctions makes up about 1.1% of Arvin Capital Management LP’s holdings, making the stock its 25th largest position. Arvin Capital Management LP owned about 0.36% of ACV Auctions as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd increased its holdings in shares of ACV Auctions by 298.4% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,323 shares of the company’s stock valued at $33,000 after acquiring an additional 2,489 shares during the last quarter. Covestor Ltd boosted its holdings in ACV Auctions by 39.9% in the third quarter. Covestor Ltd now owns 5,785 shares of the company’s stock valued at $57,000 after purchasing an additional 1,649 shares in the last quarter. Neo Ivy Capital Management acquired a new position in ACV Auctions in the second quarter valued at approximately $87,000. State of Alaska Department of Revenue purchased a new position in ACV Auctions in the third quarter valued at approximately $100,000. Finally, First Horizon Corp purchased a new position in ACV Auctions in the third quarter valued at approximately $148,000. 88.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ACVA. Bank of America restated an “underperform” rating and set a $6.00 price objective (down from $16.50) on shares of ACV Auctions in a research report on Thursday, November 6th. Jefferies Financial Group lowered shares of ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 price target on the stock. in a research note on Thursday, December 11th. The Goldman Sachs Group decreased their price objective on shares of ACV Auctions from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. JPMorgan Chase & Co. dropped their price objective on ACV Auctions from $18.00 to $11.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Finally, Barclays cut their target price on ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ACV Auctions has a consensus rating of “Moderate Buy” and an average target price of $11.32.

Insider Buying and Selling

In other news, CEO George Chamoun acquired 31,172 shares of the business’s stock in a transaction on Monday, December 15th. The stock was bought at an average price of $7.97 per share, for a total transaction of $248,440.84. Following the transaction, the chief executive officer owned 2,618,714 shares in the company, valued at $20,871,150.58. This represents a 1.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.

ACV Auctions Stock Up 13.5%

ACVA opened at $5.55 on Wednesday. ACV Auctions Inc. has a 52 week low of $4.45 and a 52 week high of $17.54. The business has a 50 day moving average price of $7.52 and a two-hundred day moving average price of $8.51. 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 market cap of $966.10 million, a PE ratio of -11.33 and a beta of 1.63.

ACV Auctions (NASDAQ:ACVA) last released its earnings results on Monday, February 23rd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The company had revenue of $183.65 million during the quarter, compared to analyst estimates of $181.96 million. During the same period in the previous year, the firm posted ($0.16) EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, research analysts anticipate that ACV Auctions Inc. will post -0.07 EPS for the current year.

About ACV Auctions

ACV Auctions operates a digital marketplace that connects automotive dealers through a mobile-first platform for wholesale vehicle auctions. The company’s software enables dealers to list, inspect and bid on used vehicles in real time, leveraging smartphone-based condition reporting, high-resolution imagery and data analytics to streamline the buying and selling process. ACV Auctions also offers subscription-based access to its auction platform, supplemental reconditioning services and financing tools designed to help dealers optimize inventory turn and reduce risk.

Since its founding in 2014, ACV Auctions has expanded its technology offerings beyond core auction services to include dealer management integrations, transportation logistics coordination and title management solutions.