CIBC Private Wealth Group LLC Has $3.02 Million Holdings in ACV Auctions Inc. (NASDAQ:ACVA) (2024)

Posted by Defense World Staff on Jun 8th, 2024

CIBC Private Wealth Group LLC increased its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA – Free Report) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 199,470 shares of the company’s stock after buying an additional 17,659 shares during the quarter. CIBC Private Wealth Group LLC owned 0.12% of ACV Auctions worth $3,022,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Loomis Sayles & Co. L P bought a new position in ACV Auctions during the 3rd quarter worth about $32,611,000. FMR LLC increased its holdings in ACV Auctions by 9.4% during the 3rd quarter. FMR LLC now owns 11,763,945 shares of the company’s stock worth $178,577,000 after purchasing an additional 1,011,236 shares in the last quarter. Vanguard Group Inc. increased its holdings in ACV Auctions by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company’s stock worth $194,445,000 after purchasing an additional 1,010,941 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in ACV Auctions by 195.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,025,789 shares of the company’s stock worth $15,571,000 after purchasing an additional 678,209 shares in the last quarter. Finally, Atreides Management LP increased its holdings in ACV Auctions by 5.8% during the 3rd quarter. Atreides Management LP now owns 10,829,070 shares of the company’s stock worth $164,385,000 after purchasing an additional 594,347 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

ACV Auctions Trading Up 0.9 %

ACV Auctions stock opened at $17.83 on Friday. ACV Auctions Inc. has a 52 week low of $12.84 and a 52 week high of $19.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market capitalization of $2.94 billion, a P/E ratio of -37.15 and a beta of 1.55. The stock has a 50-day simple moving average of $17.99 and a 200 day simple moving average of $16.34.

ACV Auctions (NASDAQ:ACVA – Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). ACV Auctions had a negative return on equity of 13.50% and a negative net margin of 15.28%. The business had revenue of $145.69 million for the quarter, compared to the consensus estimate of $144.14 million. Analysts expect that ACV Auctions Inc. will post -0.37 earnings per share for the current year.

Insiders Place Their Bets

In other ACV Auctions news, insider Craig Eric Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $19.07, for a total transaction of $95,350.00. Following the completion of the sale, the insider now directly owns 202,797 shares in the company, valued at $3,867,338.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ACV Auctions news, Director Brian Hirsch sold 79,174 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $17.52, for a total transaction of $1,387,128.48. Following the completion of the sale, the director now directly owns 275,452 shares in the company, valued at $4,825,919.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Eric Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $19.07, for a total transaction of $95,350.00. Following the sale, the insider now owns 202,797 shares of the company’s stock, valued at $3,867,338.79. The disclosure for this sale can be found here. Insiders sold 650,810 shares of company stock worth $11,804,661 over the last three months. Insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler increased their target price on ACV Auctions from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of ACV Auctions in a report on Monday, June 3rd. JMP Securities raised their price objective on ACV Auctions from $20.00 to $21.00 and gave the company a “market outperform” rating in a report on Friday. Finally, Barrington Research restated an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a report on Monday, May 13th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, ACV Auctions presently has an average rating of “Moderate Buy” and a consensus price target of $20.42.

Check Out Our Latest Research Report on ACV Auctions