M&T Bank Corp Raises Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

M&T Bank Corp lifted its holdings in ACV Auctions Inc. (NASDAQ:ACVA) by 19.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,592 shares of the company’s stock after buying an additional 20,827 shares during the quarter. M&T Bank Corp owned 0.08% of ACV Auctions worth $1,963,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Keybank National Association OH boosted its position in shares of ACV Auctions by 3.4% during the 3rd quarter. Keybank National Association OH now owns 22,067 shares of the company’s stock worth $335,000 after purchasing an additional 725 shares in the last quarter. John G Ullman & Associates Inc. boosted its holdings in ACV Auctions by 1.5% during the fourth quarter. John G Ullman & Associates Inc. now owns 66,284 shares of the company’s stock worth $1,004,000 after buying an additional 1,000 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in ACV Auctions by 4.5% during the third quarter. Moneta Group Investment Advisors LLC now owns 27,248 shares of the company’s stock worth $414,000 after buying an additional 1,168 shares during the period. Arizona State Retirement System increased its holdings in ACV Auctions by 4.0% in the third quarter. Arizona State Retirement System now owns 36,900 shares of the company’s stock valued at $560,000 after buying an additional 1,413 shares in the last quarter. Finally, Versor Investments LP boosted its stake in shares of ACV Auctions by 19.5% during the 3rd quarter. Versor Investments LP now owns 11,974 shares of the company’s stock worth $182,000 after acquiring an additional 1,950 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JMP Securities lifted their price objective on ACV Auctions from $19.00 to $20.00 and gave the stock a “market outperform” rating in a report on Thursday. Barrington Research reaffirmed an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of ACV Auctions in a research note on Thursday. Finally, Piper Sandler lifted their target price on shares of ACV Auctions from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, ACV Auctions presently has an average rating of “Moderate Buy” and an average price target of $20.36.

ACV Auctions Price Performance

ACVA stock opened at $17.47 on Friday. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -37.98 and a beta of 1.56. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. ACV Auctions Inc. has a 52-week low of $12.84 and a 52-week high of $19.54. The stock’s fifty day simple moving average is $18.03 and its 200-day simple moving average is $15.75.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The firm had revenue of $118.38 million for the quarter, compared to analyst estimates of $117.62 million. ACV Auctions had a negative return on equity of 13.97% and a negative net margin of 15.64%. Equities research analysts expect that ACV Auctions Inc. will post -0.29 EPS for the current year.

Insiders Place Their Bets

In other news, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $17.17, for a total transaction of $558,025.00. Following the completion of the sale, the chief financial officer now directly owns 314,151 shares of the company’s stock, valued at approximately $5,393,972.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Craig Eric Anderson sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $18.00, for a total value of $90,000.00. Following the transaction, the insider now directly owns 202,797 shares in the company, valued at approximately $3,650,346. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $17.17, for a total value of $558,025.00. Following the sale, the chief financial officer now owns 314,151 shares of the company’s stock, valued at approximately $5,393,972.67. The disclosure for this sale can be found here. Insiders have sold a total of 1,475,208 shares of company stock valued at $26,669,099 over the last quarter. Company insiders own 8.50% of the company’s stock.

ACV Auctions 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.