Versor Investments LP Acquires New Stake in ACV Auctions Inc. (NASDAQ:ACVA)

Versor Investments LP bought a new position in ACV Auctions Inc. (NASDAQ:ACVA) during the 4th quarter, Holdings Channel.com reports. The fund bought 12,130 shares of the company’s stock, valued at approximately $262,000.

Other large investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its stake in shares of ACV Auctions by 3.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 207,411 shares of the company’s stock worth $4,480,000 after purchasing an additional 7,439 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in ACV Auctions by 38.6% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 21,471 shares of the company’s stock valued at $464,000 after buying an additional 5,983 shares during the last quarter. Handelsbanken Fonder AB raised its position in ACV Auctions by 6.0% in the fourth quarter. Handelsbanken Fonder AB now owns 44,000 shares of the company’s stock worth $950,000 after acquiring an additional 2,500 shares during the period. TimesSquare Capital Management LLC boosted its stake in shares of ACV Auctions by 6.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,891,627 shares of the company’s stock worth $40,859,000 after acquiring an additional 118,421 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of 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 valued at $16,271,000 after acquiring an additional 376,557 shares during the period. 88.55% of the stock is currently owned by institutional investors.

ACV Auctions Trading Down 5.3 %

Shares of ACVA opened at $15.21 on Tuesday. The firm has a market cap of $2.57 billion, a P/E ratio of -31.04 and a beta of 1.69. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. ACV Auctions Inc. has a 1 year low of $14.76 and a 1 year high of $23.46. The company has a 50 day simple moving average of $20.58 and a two-hundred day simple moving average of $20.13.

ACV Auctions (NASDAQ:ACVA) last posted its earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $159.51 million during the quarter, compared to analysts’ expectations of $156.77 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. On average, equities analysts expect that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO William Zerella sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $20.57, for a total transaction of $308,550.00. Following the completion of the transaction, the chief financial officer now directly owns 462,452 shares in the company, valued at approximately $9,512,637.64. This represents a 3.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Waterman sold 30,162 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total transaction of $619,225.86. Following the completion of the sale, the insider now owns 314,738 shares in the company, valued at $6,461,571.14. This represents a 8.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,662 shares of company stock worth $1,935,451 over the last 90 days. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup raised their target price on ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of ACV Auctions in a research note on Monday, December 16th. Stephens upgraded ACV Auctions to a “hold” rating in a research note on Saturday, February 1st. B. Riley raised their target price on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler lifted their price target on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, ACV Auctions has an average rating of “Moderate Buy” and a consensus target price of $23.35.

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.