ACV Auctions (NYSE:ACVA) Cut to “Hold” at Needham & Company LLC

Needham & Company LLC cut shares of ACV Auctions (NYSE:ACVA) from a buy rating to a hold rating in a report published on Friday morning, MarketBeat Ratings reports.

ACVA has been the subject of a number of other research reports. Citigroup increased their price target on shares of ACV Auctions from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Monday, August 17th. Stephens upgraded shares of ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 price objective on the stock in a research note on Tuesday, August 11th. Barclays cut shares of ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a report on Tuesday, August 11th. Barrington Research upgraded shares of ACV Auctions from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings upgraded ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.50.

ACV Auctions Trading Up 0.0%

NYSE ACVA opened at $10.41 on Friday. The company has a market cap of $1.77 billion, a PE ratio of -28.93 and a beta of 1.84. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.53. ACV Auctions has a 12 month low of $4.07 and a 12 month high of $10.60. The stock has a 50 day moving average of $7.49 and a 200-day moving average of $6.19.

Institutional Trading of ACV Auctions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Atreides Management LP raised its holdings in ACV Auctions by 125.2% in the 4th quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock valued at $99,543,000 after acquiring an additional 6,901,010 shares during the period. Wasatch Advisors LP boosted its holdings in shares of ACV Auctions by 301.0% during the second quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock worth $118,331,000 after acquiring an additional 5,475,874 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of ACV Auctions by 14.1% during the third quarter. Alliancebernstein L.P. now owns 6,332,313 shares of the company’s stock worth $62,753,000 after acquiring an additional 784,411 shares during the period. State Street Corp grew its position in shares of ACV Auctions by 3.2% in the fourth quarter. State Street Corp now owns 3,853,014 shares of the company’s stock valued at $30,901,000 after purchasing an additional 119,079 shares during the last quarter. Finally, Senvest Management LLC grew its position in shares of ACV Auctions by 9.0% in the first quarter. Senvest Management LLC now owns 3,530,785 shares of the company’s stock valued at $14,971,000 after purchasing an additional 291,729 shares during the last quarter. Institutional investors own 88.55% of the company’s stock.

More ACV Auctions News

Here are the key news stories impacting ACV Auctions this week:

• Positive Sentiment: Copart agreed to acquire all outstanding ACV Auctions shares for $10.50 per share in cash, implying an equity value of approximately $1.9 billion. The transaction gives shareholders a defined cash exit and offers a substantial premium to ACV’s pre-announcement trading level. Copart to Acquire ACV, Expanding Position Across the Vehicle Remarketing Ecosystem
• Positive Sentiment: The proposed combination would expand Copart’s presence across the vehicle remarketing ecosystem and could provide strategic value from ACV’s dealer marketplace and automotive data services. ACV Auctions Stock Explodes After Copart’s $1.9 Billion Takeover
• Neutral Sentiment: Barrington Research reaffirmed its “underperform” rating, while Needham & Company downgraded ACV from “buy” to “hold.” These views are less influential than the acquisition announcement but suggest analysts see limited upside beyond the $10.50 offer unless deal terms improve.
• Negative Sentiment: Several shareholder-rights law firms, including Brodsky & Smith, Monteverde & Associates, and Halper Sadeh, announced investigations into whether ACV’s board fulfilled its fiduciary duties and obtained a fair price. The inquiries could create legal costs, delay closing, or introduce uncertainty around the transaction, although they may also seek a higher offer for shareholders. Brodsky & Smith Announces an Investigation of ACV Auctions

About ACV Auctions

ACV Auctions Inc (NYSE: ACVA) operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with sellers, including franchised and independent dealerships, commercial partners and other participants in the wholesale vehicle market, enabling vehicles to be bought and sold through online auctions.

The company provides services designed to support the wholesale transaction process, including vehicle inspections and condition reports, digital auction tools, transportation and logistics coordination, and post-sale protection and arbitration services.