Atreides Management LP Raises Position in ACV Auctions Inc. $ACVA

Atreides Management LP boosted its holdings in ACV Auctions Inc. (NYSE:ACVA) by 125.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,411,800 shares of the company’s stock after purchasing an additional 6,901,010 shares during the period. ACV Auctions comprises 1.2% of Atreides Management LP’s portfolio, making the stock its 15th largest position. Atreides Management LP owned 7.21% of ACV Auctions worth $99,543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ACVA. Fifth Third Bancorp boosted its holdings in ACV Auctions by 72.4% in the fourth quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock valued at $27,000 after purchasing an additional 1,421 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in ACV Auctions by 2,573.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock valued at $30,000 after purchasing an additional 3,629 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in ACV Auctions by 298.4% in the third quarter. Aster Capital Management DIFC Ltd now owns 3,323 shares of the company’s stock valued at $33,000 after purchasing an additional 2,489 shares during the last quarter. Larson Financial Group LLC boosted its holdings in ACV Auctions by 38,076.9% in the fourth quarter. Larson Financial Group LLC now owns 4,963 shares of the company’s stock valued at $40,000 after purchasing an additional 4,950 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in ACV Auctions by 12,979.5% in the fourth quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company’s stock valued at $46,000 after purchasing an additional 5,711 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

ACV Auctions Stock Down 1.4%

Shares of ACV Auctions stock opened at $6.18 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $5.60 and its 200-day simple moving average is $6.43. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -17.66 and a beta of 1.84. ACV Auctions Inc. has a twelve month low of $4.07 and a twelve month high of $16.83.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ACVA. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of ACV Auctions in a report on Tuesday, February 24th. Barclays reduced their price target on ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, March 2nd. Stephens raised ACV Auctions to a “hold” rating in a report on Monday, June 1st. Royal Bank Of Canada raised ACV Auctions to an “outperform” rating in a report on Tuesday, February 24th. Finally, Barrington Research downgraded ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 target price on the stock. in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, ACV Auctions presently has a consensus rating of “Hold” and an average target price of $10.14.

About ACV Auctions

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.