ACV Auctions Inc. $ACVA Shares Sold by Next Century Growth Investors LLC

Next Century Growth Investors LLC decreased its position in ACV Auctions Inc. (NASDAQ:ACVA) by 27.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 962,921 shares of the company’s stock after selling 365,387 shares during the period. ACV Auctions comprises 1.2% of Next Century Growth Investors LLC’s portfolio, making the stock its 29th largest holding. Next Century Growth Investors LLC owned 0.56% of ACV Auctions worth $15,619,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in ACV Auctions in the 1st quarter valued at approximately $35,000. CWM LLC lifted its holdings in shares of ACV Auctions by 77.4% in the 2nd quarter. CWM LLC now owns 4,642 shares of the company’s stock valued at $75,000 after buying an additional 2,026 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of ACV Auctions in the second quarter valued at approximately $87,000. AlphaQuest LLC raised its position in ACV Auctions by 2,640.6% in the first quarter. AlphaQuest LLC now owns 6,687 shares of the company’s stock worth $94,000 after acquiring an additional 6,443 shares in the last quarter. Finally, Olympiad Research LP purchased a new position in ACV Auctions in the second quarter valued at about $164,000. 88.55% of the stock is owned by hedge funds and other institutional investors.

ACV Auctions Trading Down 0.4%

Shares of ACVA opened at $8.09 on Wednesday. ACV Auctions Inc. has a twelve month low of $4.95 and a twelve month high of $22.47. The firm has a market capitalization of $1.39 billion, a P/E ratio of -16.50 and a beta of 1.64. 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 fifty day simple moving average is $8.08 and its 200 day simple moving average is $11.77.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $199.56 million for the quarter, compared to the consensus estimate of $200.26 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%.The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business posted $0.04 EPS. On average, equities research analysts forecast that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ACVA. Stephens reduced their price objective on ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Tuesday, August 12th. Jefferies Financial Group decreased their price target on shares of ACV Auctions from $22.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. The Goldman Sachs Group lowered their price target on shares of ACV Auctions from $21.00 to $13.00 and set a “buy” rating for the company in a report on Friday, November 7th. JPMorgan Chase & Co. cut their price objective on shares of ACV Auctions from $18.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, Bank of America restated an “underperform” rating and set a $6.00 target price (down previously from $16.50) on shares of ACV Auctions in a research report on Thursday, November 6th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ACV Auctions presently has a consensus rating of “Moderate Buy” and an average target price of $12.35.

Insider Buying and Selling at ACV Auctions

In related news, Director Brian Hirsch bought 80,571 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was bought at an average price of $6.21 per share, with a total value of $500,345.91. Following the completion of the transaction, the director directly owned 99,678 shares of the company’s stock, valued at approximately $619,000.38. This represents a 421.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert P. Goodman acquired 912,408 shares of the business’s stock in a transaction on Monday, November 10th. The stock was purchased at an average price of $5.61 per share, for a total transaction of $5,118,608.88. Following the acquisition, the director directly owned 912,408 shares in the company, valued at $5,118,608.88. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.90% of the company’s stock.

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.