ACV Auctions Inc. (NASDAQ:ACVA) Shares Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC raised its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 4.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,013,642 shares of the company’s stock after buying an additional 198,228 shares during the period. William Blair Investment Management LLC’s holdings in ACV Auctions were worth $91,499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. bought a new position in shares of ACV Auctions in the first quarter valued at approximately $114,000. Penn Mutual Asset Management LLC bought a new position in ACV Auctions during the 4th quarter valued at $153,000. Blair William & Co. IL increased its position in shares of ACV Auctions by 14.7% during the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after purchasing an additional 1,626 shares during the period. Ieq Capital LLC bought a new stake in shares of ACV Auctions in the 4th quarter worth $249,000. Finally, FineMark National Bank & Trust acquired a new stake in shares of ACV Auctions in the fourth quarter valued at $381,000. 88.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ACVA. JPMorgan Chase & Co. raised ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 target price on the stock in a report on Monday, June 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price objective on shares of ACV Auctions in a research note on Monday, September 9th. Barrington Research reissued an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research note on Friday, August 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of ACV Auctions in a report on Monday, June 3rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

ACV Auctions Price Performance

NASDAQ ACVA opened at $19.87 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24. ACV Auctions Inc. has a 1 year low of $12.84 and a 1 year high of $20.79. The company has a market cap of $3.31 billion, a PE ratio of -41.40 and a beta of 1.55. The stock’s 50-day moving average price is $18.03 and its two-hundred day moving average price is $18.04.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. The business had revenue of $160.62 million during the quarter, compared to the consensus estimate of $156.33 million. On average, analysts predict that ACV Auctions Inc. will post -0.36 EPS for the current year.

Insider Transactions at ACV Auctions

In related news, CEO George Chamoun sold 77,995 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $17.71, for a total transaction of $1,381,291.45. Following the transaction, the chief executive officer now directly owns 961,245 shares of the company’s stock, valued at $17,023,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other ACV Auctions news, insider Craig Eric Anderson sold 7,500 shares of ACV Auctions stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $17.81, for a total transaction of $133,575.00. Following the completion of the sale, the insider now owns 328,167 shares of the company’s stock, valued at approximately $5,844,654.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO George Chamoun sold 77,995 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $17.71, for a total value of $1,381,291.45. Following the sale, the chief executive officer now owns 961,245 shares of the company’s stock, valued at $17,023,648.95. The disclosure for this sale can be found here. Insiders sold a total of 678,624 shares of company stock valued at $12,357,333 over the last quarter. Company insiders own 8.50% of the company’s stock.

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.