Trexquant Investment LP Takes $3.86 Million Position in ACV Auctions Inc. (NASDAQ:ACVA)

Trexquant Investment LP purchased a new stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) during the 4th quarter, Holdings Channel reports. The fund purchased 178,654 shares of the company’s stock, valued at approximately $3,859,000.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of ACV Auctions in the 4th quarter worth about $4,704,000. Intech Investment Management LLC lifted its stake in ACV Auctions by 55.7% in the fourth quarter. Intech Investment Management LLC now owns 62,395 shares of the company’s stock worth $1,348,000 after purchasing an additional 22,310 shares during the last quarter. Moody National Bank Trust Division boosted its position in shares of ACV Auctions by 64.6% during the fourth quarter. Moody National Bank Trust Division now owns 79,199 shares of the company’s stock valued at $1,711,000 after buying an additional 31,094 shares during the period. Quadrature Capital Ltd bought a new position in shares of ACV Auctions during the third quarter valued at approximately $566,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of ACV Auctions by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,289,362 shares of the company’s stock worth $27,850,000 after buying an additional 48,021 shares during the period. 88.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ACV Auctions news, CFO William Zerella sold 15,000 shares of ACV Auctions stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $13.53, for a total value of $202,950.00. Following the transaction, the chief financial officer now directly owns 766,266 shares of the company’s stock, valued at approximately $10,367,578.98. The trade was a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Waterman sold 30,162 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total value of $619,225.86. Following the sale, the insider now owns 314,738 shares of the company’s stock, valued at approximately $6,461,571.14. This represents a 8.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 423,411 shares of company stock worth $6,776,916. 8.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Piper Sandler upgraded ACV Auctions from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $18.00 to $20.00 in a report on Thursday, March 20th. JMP Securities reissued a “market outperform” rating and set a $25.00 target price on shares of ACV Auctions in a research note on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price target on shares of ACV Auctions in a research note on Wednesday, March 12th. Bank of America raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, March 12th. Finally, Stephens raised shares of ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, ACV Auctions currently has an average rating of “Moderate Buy” and an average target price of $23.14.

ACV Auctions Stock Performance

Shares of ACVA stock opened at $13.31 on Monday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -27.15 and a beta of 1.74. ACV Auctions Inc. has a 52-week low of $11.88 and a 52-week high of $23.46. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $17.30 and its 200 day moving average is $19.38.

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

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.