Trexquant Investment LP Acquires New Shares in ACV Auctions Inc. (NASDAQ:ACVA)

Trexquant Investment LP bought a new stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 178,654 shares of the company’s stock, valued at approximately $3,859,000. Trexquant Investment LP owned about 0.11% of ACV Auctions at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of ACV Auctions by 65.8% during the 4th quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock valued at $48,000 after acquiring an additional 933 shares during the last quarter. KBC Group NV lifted its position in ACV Auctions by 80.4% during the fourth quarter. KBC Group NV now owns 7,406 shares of the company’s stock valued at $160,000 after purchasing an additional 3,300 shares during the period. LPL Financial LLC purchased a new stake in ACV Auctions in the fourth quarter worth approximately $226,000. Xponance Inc. bought a new stake in ACV Auctions in the 4th quarter worth approximately $229,000. Finally, Versor Investments LP purchased a new stake in ACV Auctions during the 4th quarter valued at $262,000. Institutional investors own 88.55% of the company’s stock.

Insider Activity

In other news, insider Michael Waterman sold 30,162 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 314,738 shares of the company’s stock, valued at $6,461,571.14. This represents a 8.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Chamoun sold 348,249 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $15.34, for a total transaction of $5,342,139.66. Following the completion of the transaction, the chief executive officer now directly owns 2,821,193 shares of the company’s stock, valued at approximately $43,277,100.62. This trade represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 423,411 shares of company stock worth $6,776,916 over the last 90 days. Corporate insiders own 8.50% of the company’s stock.

ACV Auctions Stock Down 2.1 %

ACVA opened at $13.31 on Monday. ACV Auctions Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $23.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -27.15 and a beta of 1.74. The firm’s fifty day moving average is $17.30 and its 200 day moving average is $19.38.

ACV Auctions (NASDAQ:ACVA) last issued its earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The firm had revenue of $159.51 million during the quarter, compared to analyst estimates 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, sell-side analysts forecast that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of ACV Auctions in a report on Wednesday, March 12th. Stephens raised shares of ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. JPMorgan Chase & Co. dropped their price objective on shares of ACV Auctions from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 target price on shares of ACV Auctions in a report on Monday, December 16th. Finally, Piper Sandler upgraded shares of ACV Auctions from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $20.00 in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, ACV Auctions currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.14.

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.