Arizona State Retirement System Purchases 1,500 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Arizona State Retirement System grew its position in ACV Auctions Inc. (NASDAQ:ACVA) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,400 shares of the company’s stock after acquiring an additional 1,500 shares during the quarter. Arizona State Retirement System’s holdings in ACV Auctions were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Keybank National Association OH increased 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 valued at $335,000 after purchasing an additional 725 shares during the last quarter. Park Place Capital Corp increased its position in shares of ACV Auctions by 83.2% during the 3rd quarter. Park Place Capital Corp now owns 2,180 shares of the company’s stock valued at $33,000 after purchasing an additional 990 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of ACV Auctions by 11.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,499 shares of the company’s stock valued at $181,000 after purchasing an additional 1,069 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of ACV Auctions by 4.5% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 27,248 shares of the company’s stock valued at $414,000 after purchasing an additional 1,168 shares during the last quarter. Finally, UBS Group AG increased its position in shares of ACV Auctions by 47.5% during the 4th quarter. UBS Group AG now owns 3,725 shares of the company’s stock valued at $31,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Price Performance

Shares of ACVA stock opened at $17.31 on Friday. ACV Auctions Inc. has a twelve month low of $11.58 and a twelve month high of $19.54. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -37.63 and a beta of 1.57. The stock has a fifty day simple moving average of $17.39 and a two-hundred day simple moving average of $15.45. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.25.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Northcoast Research raised ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, January 10th. JMP Securities restated a “market outperform” rating and set a $19.00 price objective on shares of ACV Auctions in a report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, ACV Auctions has an average rating of “Moderate Buy” and a consensus price target of $20.21.

Insiders Place Their Bets

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $14.07, for a total value of $457,275.00. Following the completion of the sale, the chief financial officer now directly owns 305,579 shares in the company, valued at approximately $4,299,496.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Craig Eric Anderson sold 5,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $18.00, for a total transaction of $90,000.00. Following the completion of the sale, the insider now directly owns 202,797 shares in the company, valued at approximately $3,650,346. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $14.07, for a total value of $457,275.00. Following the sale, the chief financial officer now owns 305,579 shares of the company’s stock, valued at $4,299,496.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,507,708 shares of company stock worth $27,126,374. 13.67% of the stock is currently owned by company insiders.

About ACV Auctions

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.