Ieq Capital LLC Sells 5,374 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Ieq Capital LLC reduced its stake in ACV Auctions Inc. (NASDAQ:ACVA) by 6.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 74,516 shares of the company’s stock after selling 5,374 shares during the quarter. Ieq Capital LLC’s holdings in ACV Auctions were worth $1,610,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. TimesSquare Capital Management LLC raised its stake in shares of ACV Auctions by 6.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,891,627 shares of the company’s stock worth $40,859,000 after buying an additional 118,421 shares during the period. New York State Common Retirement Fund raised its stake in ACV Auctions by 100.0% during the 4th quarter. New York State Common Retirement Fund now owns 753,296 shares of the company’s stock worth $16,271,000 after acquiring an additional 376,557 shares during the period. Rhumbline Advisers lifted its holdings in ACV Auctions by 2.1% during the fourth quarter. Rhumbline Advisers now owns 206,395 shares of the company’s stock valued at $4,458,000 after purchasing an additional 4,212 shares in the last quarter. Blue Trust Inc. lifted its holdings in ACV Auctions by 65.8% during the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock valued at $48,000 after purchasing an additional 933 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of ACV Auctions in the fourth quarter worth approximately $362,000. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $21.65, for a total value of $703,625.00. Following the completion of the sale, the chief financial officer now directly owns 490,482 shares in the company, valued at $10,618,935.30. This trade represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Waterman sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total transaction of $304,050.00. Following the transaction, the insider now owns 311,354 shares in the company, valued at $6,311,145.58. This trade represents a 4.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,662 shares of company stock worth $1,935,451. Corporate insiders own 8.50% of the company’s stock.

ACV Auctions Stock Down 1.5 %

NASDAQ ACVA opened at $17.32 on Tuesday. The stock has a 50 day moving average price of $21.09 and a 200-day moving average price of $20.20. ACV Auctions Inc. has a one year low of $14.76 and a one year high of $23.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.51 and a current ratio of 1.56. The company has a market capitalization of $2.90 billion, a P/E ratio of -35.35 and a beta of 1.69.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The business had revenue of $159.51 million during the quarter, compared to analyst estimates of $156.77 million. As a group, equities analysts predict that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ACVA shares. B. Riley increased their price target on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JMP Securities reiterated a “market outperform” rating and set a $25.00 target price on shares of ACV Auctions in a research report on Monday, December 16th. Barrington Research reissued an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a report on Monday, November 4th. Stephens upgraded ACV Auctions to a “hold” rating in a research note on Saturday, February 1st. Finally, Citigroup lifted their price objective on shares of ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.35.

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.