Riverbridge Partners LLC Sells 445,402 Shares of ACV Auctions Inc. $ACVA

Riverbridge Partners LLC decreased its position in ACV Auctions Inc. (NYSE:ACVA) by 12.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,122,032 shares of the company’s stock after selling 445,402 shares during the period. Riverbridge Partners LLC’s holdings in ACV Auctions were worth $25,039,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Iridian Asset Management LLC CT raised its position in ACV Auctions by 52.7% in the 3rd quarter. Iridian Asset Management LLC CT now owns 1,880,851 shares of the company’s stock valued at $18,639,000 after buying an additional 649,358 shares during the last quarter. Swedbank AB boosted its position in ACV Auctions by 50.0% during the 3rd quarter. Swedbank AB now owns 1,500,000 shares of the company’s stock worth $14,865,000 after acquiring an additional 500,000 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its position in ACV Auctions by 1,030.4% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 131,203 shares of the company’s stock worth $1,300,000 after acquiring an additional 119,596 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of ACV Auctions by 3.3% during the 3rd quarter. William Blair Investment Management LLC now owns 11,471,709 shares of the company’s stock worth $113,685,000 after acquiring an additional 362,003 shares in the last quarter. Finally, CenterBook Partners LP grew its stake in shares of ACV Auctions by 827.8% during the 3rd quarter. CenterBook Partners LP now owns 567,799 shares of the company’s stock worth $5,627,000 after acquiring an additional 506,600 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors.

Insider Activity at ACV Auctions

In other news, CEO George Chamoun acquired 24,272 shares of the stock in a transaction dated Monday, March 9th. The shares were bought at an average cost of $5.05 per share, for a total transaction of $122,573.60. Following the purchase, the chief executive officer directly owned 2,952,977 shares of the company’s stock, valued at approximately $14,912,533.85. This trade represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by company insiders.

ACV Auctions Trading Down 1.5%

Shares of ACV Auctions stock opened at $4.33 on Friday. The stock has a market cap of $752.85 million, a P/E ratio of -11.38 and a beta of 1.69. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. ACV Auctions Inc. has a 12-month low of $4.24 and a 12-month high of $17.54. The business’s 50 day moving average is $6.31 and its 200-day moving average is $7.76.

ACV Auctions (NYSE:ACVA) last issued its earnings results on Monday, February 23rd. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). ACV Auctions had a negative return on equity of 6.17% and a negative net margin of 8.71%.The firm had revenue of $183.65 million for the quarter, compared to analyst estimates of $181.96 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. ACV Auctions’s quarterly revenue was up 15.2% on a year-over-year basis.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Barrington Research raised shares of ACV Auctions from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ACV Auctions in a research report on Monday, December 29th. Royal Bank Of Canada upgraded shares of ACV Auctions to an “outperform” rating in a research note on Tuesday, February 24th. The Goldman Sachs Group cut 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. Finally, Jefferies Financial Group downgraded shares of ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 price objective for the company. in a research note on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, ACV Auctions has an average rating of “Moderate Buy” and an average price target of $10.45.

ACV Auctions Company 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.