Roubaix Capital LLC Trims Stock Position in ACV Auctions Inc. (NASDAQ:ACVA)

Roubaix Capital LLC lessened its position in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 7.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 174,328 shares of the company’s stock after selling 14,531 shares during the period. ACV Auctions makes up about 2.0% of Roubaix Capital LLC’s holdings, making the stock its 26th biggest position. Roubaix Capital LLC owned 0.11% of ACV Auctions worth $3,544,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ACVA. Massachusetts Financial Services Co. MA raised its position in shares of ACV Auctions by 47.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,758,163 shares of the company’s stock worth $141,586,000 after buying an additional 2,502,064 shares in the last quarter. William Blair Investment Management LLC boosted its stake in ACV Auctions by 4.1% in the second quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock worth $91,499,000 after buying an additional 198,228 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of ACV Auctions by 11.0% during the 1st quarter. Jennison Associates LLC now owns 3,954,432 shares of the company’s stock valued at $74,225,000 after purchasing an additional 393,423 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of ACV Auctions by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,103,770 shares of the company’s stock valued at $38,394,000 after buying an additional 163,380 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew its position in ACV Auctions by 45.6% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,765,822 shares of the company’s stock worth $33,144,000 after acquiring an additional 552,719 shares during the last quarter. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

ACV Auctions Trading Down 0.6 %

Shares of NASDAQ ACVA opened at $17.71 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.49 and a current ratio of 1.49. The business’s 50 day moving average price is $19.11 and its 200-day moving average price is $18.27. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $21.10. The company has a market cap of $2.95 billion, a price-to-earnings ratio of -36.90 and a beta of 1.56.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. The company had revenue of $160.62 million for the quarter, compared to analysts’ expectations of $156.33 million. On average, sell-side analysts expect that ACV Auctions Inc. will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Michael Waterman sold 18,001 shares of ACV Auctions stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total value of $338,238.79. Following the transaction, the insider now directly owns 337,190 shares in the company, valued at approximately $6,335,800.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Michael Waterman sold 18,001 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $338,238.79. Following the completion of the sale, the insider now directly owns 337,190 shares in the company, valued at $6,335,800.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Andrew Peer sold 1,795 shares of ACV Auctions stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the transaction, the vice president now owns 62,956 shares in the company, valued at $1,322,076. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 741,926 shares of company stock worth $14,285,765 over the last 90 days. Company insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

ACVA has been the subject of a number of recent analyst reports. Raymond James initiated coverage on ACV Auctions in a research report on Friday, September 27th. They set a “market perform” rating and a $22.00 price target for the company. Barrington Research reissued an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research report on Friday, August 16th. JMP Securities boosted their target price on ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 17th. Finally, Jefferies Financial Group upped their target price on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, ACV Auctions currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

ACV Auctions Company 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.