507,667 Shares in ACV Auctions Inc. $ACVA Acquired by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in ACV Auctions Inc. (NASDAQ:ACVA) during the 3rd quarter, HoldingsChannel reports. The firm acquired 507,667 shares of the company’s stock, valued at approximately $5,031,000.

A number of other large investors have also bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of ACV Auctions in the fourth quarter valued at $392,000. Royal Bank of Canada grew its stake in shares of ACV Auctions by 14.3% during the 1st quarter. Royal Bank of Canada now owns 83,187 shares of the company’s stock worth $1,173,000 after acquiring an additional 10,382 shares during the period. AQR Capital Management LLC purchased a new stake in ACV Auctions in the 1st quarter worth about $197,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in ACV Auctions by 19.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 188,904 shares of the company’s stock worth $2,662,000 after acquiring an additional 30,299 shares during the last quarter. Finally, Millennium Management LLC raised its stake in ACV Auctions by 35.7% in the 1st quarter. Millennium Management LLC now owns 728,697 shares of the company’s stock valued at $10,267,000 after acquiring an additional 191,883 shares during the period. 88.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other ACV Auctions news, CEO George Chamoun acquired 14,286 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was bought at an average price of $8.81 per share, with a total value of $125,859.66. Following the completion of the purchase, the chief executive officer owned 2,598,383 shares of the company’s stock, valued at approximately $22,891,754.23. This represents a 0.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.90% of the company’s stock.

ACV Auctions Stock Up 0.4%

ACVA stock opened at $5.14 on Tuesday. The stock has a 50-day simple moving average of $7.29 and a two-hundred day simple moving average of $8.34. ACV Auctions Inc. has a twelve month low of $4.45 and a twelve month high of $17.54. The firm has a market capitalization of $894.73 million, a PE ratio of -10.49 and a beta of 1.69. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The firm had revenue of $183.65 million during the quarter, compared to the consensus estimate of $181.96 million. During the same quarter last year, the business posted ($0.16) earnings per share. ACV Auctions’s revenue was up 15.2% compared to the same quarter last year. On average, equities analysts predict that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

Analyst Ratings Changes

ACVA has been the topic of several recent research reports. Barclays dropped their price objective on shares of ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, March 2nd. The Goldman Sachs Group lowered their price target on shares of ACV Auctions from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. B. Riley Financial dropped 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 note on Tuesday, February 24th. Barrington Research raised shares of ACV Auctions from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 24th. Finally, Royal Bank Of Canada upgraded shares of ACV Auctions to an “outperform” rating in a research note on Tuesday, February 24th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.32.

About ACV Auctions

ACV Auctions operates a digital marketplace that connects automotive dealers through a mobile-first platform for wholesale vehicle auctions. The company’s software enables dealers to list, inspect and bid on used vehicles in real time, leveraging smartphone-based condition reporting, high-resolution imagery and data analytics to streamline the buying and selling process. ACV Auctions also offers subscription-based access to its auction platform, supplemental reconditioning services and financing tools designed to help dealers optimize inventory turn and reduce risk.

Since its founding in 2014, ACV Auctions has expanded its technology offerings beyond core auction services to include dealer management integrations, transportation logistics coordination and title management solutions.