Edgestream Partners L.P. Trims Holdings in ACV Auctions Inc. $ACVA

Edgestream Partners L.P. reduced its holdings in shares of ACV Auctions Inc. (NYSE:ACVA) by 90.3% in the first quarter, HoldingsChannel reports. The fund owned 22,585 shares of the company’s stock after selling 211,242 shares during the period. Edgestream Partners L.P.’s holdings in ACV Auctions were worth $96,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACVA. Amundi purchased a new position in shares of ACV Auctions during the first quarter valued at approximately $63,000. California State Teachers Retirement System raised its stake in ACV Auctions by 46.0% during the first quarter. California State Teachers Retirement System now owns 234,207 shares of the company’s stock valued at $993,000 after buying an additional 73,823 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in ACV Auctions by 215.8% in the first quarter. Quantinno Capital Management LP now owns 425,494 shares of the company’s stock worth $1,804,000 after acquiring an additional 290,739 shares in the last quarter. Wealth Alliance LLC purchased a new stake in shares of ACV Auctions in the first quarter worth $60,000. Finally, Senvest Management LLC raised its position in shares of ACV Auctions by 9.0% in the 1st quarter. Senvest Management LLC now owns 3,530,785 shares of the company’s stock worth $14,971,000 after purchasing an additional 291,729 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Analysts Set New Price Targets

ACVA has been the subject of a number of analyst reports. Barclays raised their price objective on shares of ACV Auctions from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Stephens upgraded shares of ACV Auctions to a “hold” rating in a report on Monday, June 1st. Barrington Research upgraded shares of ACV Auctions from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Weiss Ratings raised ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, ACV Auctions presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.23.

ACV Auctions Stock Down 2.5%

Shares of ACV Auctions stock opened at $7.49 on Friday. ACV Auctions Inc. has a twelve month low of $4.07 and a twelve month high of $14.65. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $6.97 and its 200 day moving average is $6.20. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -21.40 and a beta of 1.82.

ACV Auctions Profile

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.