ACV Auctions Inc. $ACVA Shares Bought by Atreides Management LP

Atreides Management LP raised its holdings in shares of ACV Auctions Inc. (NYSE:ACVA) by 17.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,510,790 shares of the company’s stock after purchasing an additional 816,556 shares during the quarter. ACV Auctions comprises about 1.1% of Atreides Management LP’s holdings, making the stock its 26th biggest position. Atreides Management LP’s holdings in ACV Auctions were worth $54,612,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC lifted its stake in ACV Auctions by 11.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,928,666 shares of the company’s stock worth $63,731,000 after purchasing an additional 398,106 shares in the last quarter. Riverbridge Partners LLC grew its position in shares of ACV Auctions by 18.6% in the third quarter. Riverbridge Partners LLC now owns 3,567,434 shares of the company’s stock valued at $35,353,000 after purchasing an additional 560,697 shares in the last quarter. Iridian Asset Management LLC CT increased its holdings in shares of ACV Auctions by 52.7% in the third quarter. Iridian Asset Management LLC CT now owns 1,880,851 shares of the company’s stock valued at $18,639,000 after purchasing an additional 649,358 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in shares of ACV Auctions by 1,030.4% in the third quarter. Campbell & CO Investment Adviser LLC now owns 131,203 shares of the company’s stock valued at $1,300,000 after purchasing an additional 119,596 shares during the last quarter. Finally, Swedbank AB lifted its position in ACV Auctions by 50.0% during the third quarter. Swedbank AB now owns 1,500,000 shares of the company’s stock worth $14,865,000 after buying an additional 500,000 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ACVA has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of ACV Auctions in a research note on Monday, December 29th. Wall Street Zen raised ACV Auctions from a “sell” rating to a “hold” rating in a research note on Sunday, February 1st. B. Riley Financial lowered their price target on shares of ACV Auctions from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of ACV Auctions in a report on Tuesday, February 24th. Finally, Royal Bank Of Canada upgraded shares of ACV Auctions to an “outperform” rating in a research report on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.32.

Insider Transactions at ACV Auctions

In related news, CEO George Chamoun bought 24,272 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were bought at an average price of $5.05 per share, with a total value of $122,573.60. Following the completion of the transaction, the chief executive officer directly owned 2,952,977 shares of the company’s stock, valued at $14,912,533.85. This represents a 0.83% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have bought 69,730 shares of company stock valued at $496,874. 2.90% of the stock is currently owned by insiders.

ACV Auctions Price Performance

NYSE:ACVA opened at $4.85 on Friday. ACV Auctions Inc. has a 52 week low of $4.45 and a 52 week high of $17.54. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $843.37 million, a P/E ratio of -12.75 and a beta of 1.69. The stock’s fifty day moving average is $7.04 and its two-hundred day moving average is $8.17.

ACV Auctions (NYSE:ACVA) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.10). The business had revenue of $183.65 million during the quarter, compared to analyst estimates of $181.96 million. ACV Auctions had a negative net margin of 8.71% and a negative return on equity of 6.17%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the company earned ($0.16) EPS.

About ACV Auctions

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.