Riverbridge Partners LLC Has $11.39 Million Stock Holdings in ACV Auctions Inc. $ACVA

Riverbridge Partners LLC trimmed its holdings in ACV Auctions Inc. (NYSE:ACVA) by 13.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,687,459 shares of the company’s stock after selling 434,573 shares during the period. Riverbridge Partners LLC’s holdings in ACV Auctions were worth $11,395,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of ACV Auctions by 72.4% during the fourth quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock worth $27,000 after acquiring an additional 1,421 shares in the last quarter. State of Wisconsin Investment Board lifted its position in ACV Auctions by 3.1% in the 4th quarter. State of Wisconsin Investment Board now owns 55,897 shares of the company’s stock valued at $448,000 after acquiring an additional 1,692 shares in the last quarter. ProShare Advisors LLC boosted its stake in ACV Auctions by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 30,706 shares of the company’s stock valued at $246,000 after purchasing an additional 1,982 shares during the last quarter. Trust Point Inc. increased its holdings in ACV Auctions by 13.1% during the 4th quarter. Trust Point Inc. now owns 19,428 shares of the company’s stock worth $156,000 after purchasing an additional 2,248 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in ACV Auctions by 13.6% during the 2nd quarter. Hsbc Holdings PLC now owns 19,508 shares of the company’s stock worth $318,000 after purchasing an additional 2,342 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.

ACV Auctions Trading Up 0.8%

NYSE:ACVA opened at $6.42 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -18.34 and a beta of 1.84. ACV Auctions Inc. has a 52 week low of $4.07 and a 52 week high of $16.83. The firm has a 50-day moving average price of $5.75 and a two-hundred day moving average price of $6.39.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of ACV Auctions in a research note on Friday, March 27th. Stephens upgraded ACV Auctions to a “hold” rating in a report on Monday, June 1st. Royal Bank Of Canada raised ACV Auctions to an “outperform” rating in a research report on Tuesday, February 24th. The Goldman Sachs Group dropped their price objective on ACV Auctions from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Finally, Citigroup downgraded shares of ACV Auctions from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $13.00 to $7.00 in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ACV Auctions currently has a consensus rating of “Hold” and a consensus price target of $10.14.

ACV Auctions Profile

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.