John G Ullman & Associates Inc. Raises Stock Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

John G Ullman & Associates Inc. raised its position in ACV Auctions Inc. (NASDAQ:ACVA) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,284 shares of the company’s stock after buying an additional 1,000 shares during the quarter. John G Ullman & Associates Inc.’s holdings in ACV Auctions were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS Group AG increased its holdings in shares of ACV Auctions by 47.5% in the fourth 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 period. Park Place Capital Corp increased its holdings in shares of ACV Auctions by 83.2% in the third 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 period. Neo Ivy Capital Management acquired a new position in shares of ACV Auctions in the second quarter valued at approximately $36,000. Lazard Asset Management LLC acquired a new position in ACV Auctions during the fourth quarter worth $53,000. Finally, Citigroup Inc. grew its holdings in ACV Auctions by 359.1% during the first quarter. Citigroup Inc. now owns 3,641 shares of the company’s stock worth $54,000 after acquiring an additional 2,848 shares during the period. Hedge funds and other institutional investors own 88.55% of the company’s stock.

ACV Auctions Price Performance

Shares of NASDAQ:ACVA opened at $17.31 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12. ACV Auctions Inc. has a 52-week low of $11.58 and a 52-week high of $19.54. The stock’s fifty day simple moving average is $17.39 and its 200-day simple moving average is $15.45.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $117.62 million. On average, research analysts predict that ACV Auctions Inc. will post -0.29 EPS for the current year.

Insider Activity

In other 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 value of $90,000.00. Following the sale, the insider now directly owns 202,797 shares in the company, valued at $3,650,346. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Craig Eric Anderson sold 5,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $18.00, for a total transaction of $90,000.00. Following the transaction, the insider now directly owns 202,797 shares in the company, valued at $3,650,346. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Hirsch sold 38,763 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $18.24, for a total value of $707,037.12. Following the transaction, the director now owns 378,390 shares in the company, valued at $6,901,833.60. The disclosure for this sale can be found here. Insiders have sold 1,507,708 shares of company stock worth $27,126,374 over the last three months. 13.67% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ACVA has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $19.00 price objective on shares of ACV Auctions in a report on Wednesday. Northcoast Research raised ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Wednesday, January 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of ACV Auctions in a report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ACV Auctions presently has a consensus rating of “Moderate Buy” and an average target price of $20.21.

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.