Two Star Manager LLC Has $10.28 Million Position in ACV Auctions Inc. (NASDAQ:ACVA)

Two Star Manager LLC raised its position in ACV Auctions Inc. (NASDAQ:ACVA) by 42.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 476,041 shares of the company’s stock after acquiring an additional 141,347 shares during the quarter. ACV Auctions makes up about 4.8% of Two Star Manager LLC’s investment portfolio, making the stock its 12th largest holding. Two Star Manager LLC owned 0.28% of ACV Auctions worth $10,282,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of ACV Auctions by 65.8% in the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock valued at $48,000 after purchasing an additional 933 shares during the period. KBC Group NV raised its position in shares of ACV Auctions by 80.4% in the fourth quarter. KBC Group NV now owns 7,406 shares of the company’s stock valued at $160,000 after purchasing an additional 3,300 shares during the period. LPL Financial LLC bought a new position in shares of ACV Auctions in the fourth quarter valued at about $226,000. Xponance Inc. bought a new position in shares of ACV Auctions in the fourth quarter valued at about $229,000. Finally, Versor Investments LP bought a new position in shares of ACV Auctions in the fourth quarter valued at about $262,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, March 12th. Piper Sandler raised shares of ACV Auctions from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $20.00 in a research report on Thursday, March 20th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of ACV Auctions in a research report on Thursday, May 8th. Stephens raised shares of ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Finally, JPMorgan Chase & Co. lowered their price target on shares of ACV Auctions from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Insider Transactions at ACV Auctions

In other news, insider Michael Waterman sold 223,330 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $17.00, for a total value of $3,796,610.00. Following the transaction, the insider now owns 466,548 shares in the company, valued at approximately $7,931,316. The trade was a 32.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Zerella sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $13.53, for a total transaction of $202,950.00. Following the completion of the transaction, the chief financial officer now owns 766,266 shares in the company, valued at $10,367,578.98. This trade represents a 1.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 586,579 shares of company stock worth $9,341,700. Company insiders own 8.50% of the company’s stock.

ACV Auctions Trading Up 0.6%

ACVA opened at $17.03 on Friday. The company’s 50 day moving average is $14.86 and its 200-day moving average is $18.44. ACV Auctions Inc. has a 1-year low of $11.88 and a 1-year high of $23.46. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The company has a market cap of $2.87 billion, a P/E ratio of -34.75 and a beta of 1.72.

ACV Auctions (NASDAQ:ACVA) last posted its earnings results on Wednesday, May 7th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.13). ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. During the same quarter last year, the company earned ($0.13) EPS. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. Equities research analysts predict that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal year.

About ACV Auctions

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.