ACV Auctions Inc. (NASDAQ:ACVA) Shares Bought by Oppenheimer Asset Management Inc.
CIO Applications | Thursday, September 26, 2024
Oppenheimer Asset Management Inc. increased its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 24.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,981 shares of the company's stock after purchasing an additional 27,091 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.08% of ACV Auctions worth $2,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACVA. UMB Bank n.a. acquired a new stake in shares of ACV Auctions during the 1st quarter worth approximately $114,000. Penn Mutual Asset Management LLC acquired a new position in shares of ACV Auctions in the fourth quarter worth about $153,000. Blair William & Co. IL boosted its stake in shares of ACV Auctions by 14.7% during the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company's stock worth $238,000 after acquiring an additional 1,626 shares in the last quarter. FineMark National Bank & Trust acquired a new position in ACV Auctions in the 4th quarter worth about $381,000. Finally, ProShare Advisors LLC boosted its position in ACV Auctions by 8.5% during the first quarter. ProShare Advisors LLC now owns 22,843 shares of the company's stock worth $429,000 after purchasing an additional 1,798 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the stock. Barrington Research reissued an "outperform" rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Friday, August 16th. JMP Securities raised their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the company a "market outperform" rating in a research note on Tuesday. Needham & Company LLC reissued a "buy" rating and set a $23.00 target price on shares of ACV Auctions in a report on Monday, June 3rd. Finally, JPMorgan Chase & Co. upgraded ACV Auctions from a "neutral" rating to an "overweight" rating and set a $21.00 target price on the stock in a research report on Monday, June 10th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, ACV Auctions has an average rating of "Moderate Buy" and a consensus target price of $21.50.
ACV Auctions Price Performance
Shares of ACV Auctions stock traded down $0.10 on Wednesday, hitting $20.25. 1,449,786 shares of the company were exchanged, compared to its average volume of 1,228,737. ACV Auctions Inc. has a 1-year low of $12.84 and a 1-year high of $20.82. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -42.27 and a beta of 1.55. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $18.13 and a 200 day moving average price of $18.08.
ACV Auctions (NASDAQ:ACVA - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.02. The business had revenue of $160.62 million during the quarter, compared to the consensus estimate of $156.33 million. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. As a group, sell-side analysts predict that ACV Auctions Inc. will post -0.36 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO George Chamoun sold 131,480 shares of the company's stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $17.62, for a total value of $2,316,677.60. Following the transaction, the chief executive officer now directly owns 961,245 shares in the company, valued at approximately $16,937,136.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $17.51, for a total value of $569,075.00. Following the completion of the transaction, the chief financial officer now owns 503,077 shares in the company, valued at $8,808,878.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Chamoun sold 131,480 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $17.62, for a total transaction of $2,316,677.60. Following the sale, the chief executive officer now owns 961,245 shares in the company, valued at $16,937,136.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 608,129 shares of company stock worth $11,126,042. Company insiders own 8.50% of the company's stock.
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.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACVA. UMB Bank n.a. acquired a new stake in shares of ACV Auctions during the 1st quarter worth approximately $114,000. Penn Mutual Asset Management LLC acquired a new position in shares of ACV Auctions in the fourth quarter worth about $153,000. Blair William & Co. IL boosted its stake in shares of ACV Auctions by 14.7% during the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company's stock worth $238,000 after acquiring an additional 1,626 shares in the last quarter. FineMark National Bank & Trust acquired a new position in ACV Auctions in the 4th quarter worth about $381,000. Finally, ProShare Advisors LLC boosted its position in ACV Auctions by 8.5% during the first quarter. ProShare Advisors LLC now owns 22,843 shares of the company's stock worth $429,000 after purchasing an additional 1,798 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the stock. Barrington Research reissued an "outperform" rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Friday, August 16th. JMP Securities raised their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the company a "market outperform" rating in a research note on Tuesday. Needham & Company LLC reissued a "buy" rating and set a $23.00 target price on shares of ACV Auctions in a report on Monday, June 3rd. Finally, JPMorgan Chase & Co. upgraded ACV Auctions from a "neutral" rating to an "overweight" rating and set a $21.00 target price on the stock in a research report on Monday, June 10th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, ACV Auctions has an average rating of "Moderate Buy" and a consensus target price of $21.50.
ACV Auctions Price Performance
Shares of ACV Auctions stock traded down $0.10 on Wednesday, hitting $20.25. 1,449,786 shares of the company were exchanged, compared to its average volume of 1,228,737. ACV Auctions Inc. has a 1-year low of $12.84 and a 1-year high of $20.82. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -42.27 and a beta of 1.55. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $18.13 and a 200 day moving average price of $18.08.
ACV Auctions (NASDAQ:ACVA - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.02. The business had revenue of $160.62 million during the quarter, compared to the consensus estimate of $156.33 million. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. As a group, sell-side analysts predict that ACV Auctions Inc. will post -0.36 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO George Chamoun sold 131,480 shares of the company's stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $17.62, for a total value of $2,316,677.60. Following the transaction, the chief executive officer now directly owns 961,245 shares in the company, valued at approximately $16,937,136.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $17.51, for a total value of $569,075.00. Following the completion of the transaction, the chief financial officer now owns 503,077 shares in the company, valued at $8,808,878.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Chamoun sold 131,480 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $17.62, for a total transaction of $2,316,677.60. Following the sale, the chief executive officer now owns 961,245 shares in the company, valued at $16,937,136.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 608,129 shares of company stock worth $11,126,042. Company insiders own 8.50% of the company's stock.
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.
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