ACV Auctions Inc. (NASDAQ:ACVA) Insider Sells $1,518,000.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 75,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $20.24, for a total transaction of $1,518,000.00. Following the sale, the insider now owns 366,710 shares in the company, valued at approximately $7,422,210.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Michael Waterman also recently made the following trade(s):

• On Tuesday, July 9th, Michael Waterman sold 26,336 shares of ACV Auctions stock. The shares were sold at an average price of $17.51, for a total value of $461,143.36.

ACV Auctions Stock Performance

ACVA opened at $20.75 on Friday. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month high of $21.01. The company has a market cap of $3.43 billion, a price-to-earnings ratio of -43.23 and a beta of 1.55. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $18.34 and its 200 day moving average is $18.13.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $160.62 million during the quarter, compared to the consensus estimate of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. On average, equities research analysts predict that ACV Auctions Inc. will post -0.36 EPS for the current year.

Institutional Trading of ACV Auctions

A number of hedge funds and other institutional investors have recently bought and sold shares of ACVA. Amalgamated Bank grew its stake in shares of ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after acquiring an additional 782 shares during the period. Blair William & Co. IL boosted its position in shares of ACV Auctions by 14.7% in the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock worth $238,000 after purchasing an additional 1,626 shares during the period. ProShare Advisors LLC raised its position in shares of ACV Auctions by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock valued at $429,000 after purchasing an additional 1,798 shares during the period. Arizona State Retirement System lifted its stake in shares of ACV Auctions by 10.4% during the 2nd quarter. Arizona State Retirement System now owns 41,303 shares of the company’s stock valued at $754,000 after buying an additional 3,881 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of ACV Auctions by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 77,547 shares of the company’s stock valued at $1,456,000 after buying an additional 4,621 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ACVA. Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Monday, June 3rd. Barrington Research restated an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research note on Friday, August 16th. JMP Securities lifted their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. upgraded shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price objective on the stock in a research report on Monday, June 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

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.