Swiss National Bank Purchases 9,900 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Swiss National Bank grew its position in shares of ACV Auctions Inc. (NASDAQ:ACVA – Get Rating) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 264,200 shares of the company’s stock after buying an additional 9,900 shares during the quarter. Swiss National Bank owned 0.17% of ACV Auctions worth $2,169,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ACVA. Envestnet Asset Management Inc. bought a new position in shares of ACV Auctions during the 1st quarter worth approximately $181,000. Advisor Group Holdings Inc. lifted its position in shares of ACV Auctions by 18.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 10,397 shares of the company’s stock worth $153,000 after buying an additional 1,627 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of ACV Auctions by 3.2% during the 1st quarter. Bank of New York Mellon Corp now owns 49,679 shares of the company’s stock worth $736,000 after buying an additional 1,547 shares in the last quarter. Citigroup Inc. lifted its position in shares of ACV Auctions by 359.1% during the 1st quarter. Citigroup Inc. now owns 3,641 shares of the company’s stock worth $54,000 after buying an additional 2,848 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of ACV Auctions during the 1st quarter worth approximately $2,195,000. Institutional investors own 69.75% of the company’s stock.

Insider Activity

In other news, CFO William Zerella sold 67,500 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $16.25, for a total transaction of $1,096,875.00. Following the completion of the transaction, the chief financial officer now directly owns 333,567 shares in the company, valued at approximately $5,420,463.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert P. Goodman sold 238,643 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $16.00, for a total transaction of $3,818,288.00. Following the completion of the transaction, the director now directly owns 276,550 shares in the company, valued at approximately $4,424,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William Zerella sold 67,500 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $16.25, for a total transaction of $1,096,875.00. Following the completion of the transaction, the chief financial officer now owns 333,567 shares of the company’s stock, valued at $5,420,463.75. The disclosure for this sale can be found here. Insiders sold 3,629,683 shares of company stock worth $56,946,858 in the last three months. Corporate insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ACVA shares. Guggenheim lifted their price target on shares of ACV Auctions from $15.00 to $18.00 in a report on Monday, May 15th. Piper Jaffray Companies cut shares of ACV Auctions to a “neutral” rating and set a $11.00 price target on the stock. in a report on Thursday, February 16th. Barrington Research lifted their price target on shares of ACV Auctions from $14.00 to $18.00 in a report on Wednesday, May 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target on shares of ACV Auctions in a report on Thursday, February 23rd. Finally, Citigroup lifted their price target on shares of ACV Auctions from $14.00 to $19.00 in a report on Friday, May 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.80.

ACV Auctions Stock Down 1.9 %

ACV Auctions stock opened at $16.97 on Friday. ACV Auctions Inc. has a 1-year low of $6.10 and a 1-year high of $18.02. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -29.26 and a beta of 1.41. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.20. The firm has a 50 day simple moving average of $13.57 and a 200 day simple moving average of $10.94.

ACV Auctions (NASDAQ:ACVA – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $97.97 million during the quarter, compared to analyst estimates of $99.08 million. ACV Auctions had a negative net margin of 20.75% and a negative return on equity of 16.03%. On average, analysts predict that ACV Auctions Inc. will post -0.54 earnings per share for the current year.

ACV Auctions Profile

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ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. It also provides data services that offer insights into the condition and value of used vehicles, as well as offers customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.