Riverbridge Partners LLC Has $11.39 Million Stock Position in ACV Auctions Inc. $ACVA

Riverbridge Partners LLC lessened its position in shares of ACV Auctions Inc. (NYSE:ACVA) by 13.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,687,459 shares of the company’s stock after selling 434,573 shares during the quarter. Riverbridge Partners LLC owned approximately 1.54% of ACV Auctions worth $11,395,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co boosted its stake in shares of ACV Auctions by 13.7% in the 1st quarter. Diversified Trust Co now owns 45,520 shares of the company’s stock valued at $193,000 after purchasing an additional 5,471 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in ACV Auctions by 42,271.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,135 shares of the company’s stock valued at $105,000 after acquiring an additional 13,104 shares during the last quarter. Corient Private Wealth LLC acquired a new stake in ACV Auctions during the 4th quarter worth about $89,000. Alpine Global Management LLC bought a new position in shares of ACV Auctions in the 4th quarter worth about $88,000. Finally, Virtu Financial LLC bought a new position in shares of ACV Auctions in the 4th quarter worth about $96,000. Institutional investors own 88.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank Of Canada upgraded ACV Auctions to an “outperform” rating in a research report on Tuesday, February 24th. Barclays dropped their price target on ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, March 2nd. Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of ACV Auctions in a report on Tuesday, February 24th. Stephens raised shares of ACV Auctions to a “hold” rating in a research report on Monday, June 1st. Finally, The Goldman Sachs Group lowered their price objective on shares of ACV Auctions from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, ACV Auctions currently has a consensus rating of “Hold” and a consensus target price of $10.14.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $6.42 on Wednesday. ACV Auctions Inc. has a one year low of $4.07 and a one year high of $16.83. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -18.34 and a beta of 1.84. The business has a 50-day simple moving average of $5.75 and a 200 day simple moving average of $6.39. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.47 and a quick ratio of 1.47.

ACV Auctions 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.