ACV Auctions Inc. (NASDAQ:ACVA) Insider Michael Waterman Sells 18,001 Shares

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 18,001 shares of ACV Auctions stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $338,238.79. Following the completion of the transaction, the insider now owns 337,190 shares in the company, valued at approximately $6,335,800.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Tuesday, October 1st, Michael Waterman sold 16,098 shares of ACV Auctions stock. The stock was sold at an average price of $19.95, for a total value of $321,155.10.
• On Tuesday, September 17th, Michael Waterman sold 75,000 shares of ACV Auctions stock. The shares were sold at an average price of $20.24, for a total value of $1,518,000.00.

ACV Auctions Stock Down 0.3 %

ACVA stock opened at $19.20 on Friday. The company has a 50 day moving average of $19.17 and a two-hundred day moving average of $18.29. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -40.00 and a beta of 1.56. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month high of $21.10. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.24.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. The business had revenue of $160.62 million during the quarter, compared to analyst estimates of $156.33 million. On average, equities analysts anticipate that ACV Auctions Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACVA has been the topic of several recent analyst reports. JMP Securities upped their price objective 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, September 17th. Barrington Research reissued an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research note on Friday, August 16th. Finally, Raymond James started coverage on ACV Auctions in a research report on Friday, September 27th. They issued a “market perform” rating and a $22.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.57.

Institutional Investors Weigh In On ACV Auctions

Institutional investors have recently made changes to their positions in the company. Park Place Capital Corp raised its position in ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after acquiring an additional 706 shares in the last quarter. Amalgamated Bank increased 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 worth $93,000 after purchasing an additional 782 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of ACV Auctions during the 2nd quarter valued at $225,000. Blair William & Co. IL lifted its stake in shares of ACV Auctions by 14.7% in the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of ACV Auctions in the 2nd quarter valued at $271,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

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.