ACV Auctions Inc. (NASDAQ:ACVA) Receives Average Recommendation of “Moderate Buy” from Brokerages

ACV Auctions Inc. (NASDAQ:ACVA) has earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $23.65.

A number of research firms have recently commented on ACVA. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target (up from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. Jefferies Financial Group raised their price target on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Piper Sandler raised their price target on ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a report on Monday, November 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price target on shares of ACV Auctions in a report on Monday, December 16th.

ACV Auctions Price Performance

Shares of NASDAQ ACVA opened at $21.11 on Thursday. The stock has a fifty day simple moving average of $21.61 and a two-hundred day simple moving average of $19.73. ACV Auctions has a 1-year low of $12.84 and a 1-year high of $23.46. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -44.91 and a beta of 1.69. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25.

Insider Activity at ACV Auctions

In other ACV Auctions news, insider Michael Waterman sold 30,162 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total transaction of $619,225.86. Following the sale, the insider now owns 314,738 shares in the company, valued at $6,461,571.14. This trade represents a 8.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $21.65, for a total value of $703,625.00. Following the sale, the chief financial officer now owns 490,482 shares in the company, valued at $10,618,935.30. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,162 shares of company stock valued at $2,359,726. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in shares of ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after buying an additional 884 shares during the period. MCF Advisors LLC increased its holdings in shares of ACV Auctions by 107.0% in the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after buying an additional 765 shares during the period. Park Place Capital Corp increased its holdings in shares of ACV Auctions by 34.1% in the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after buying an additional 706 shares during the period. Amalgamated Bank increased its holdings in shares of ACV Auctions by 18.0% in the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after buying an additional 782 shares during the period. Finally, KBC Group NV increased its holdings 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 worth $160,000 after buying an additional 3,300 shares during the period. Hedge funds and other institutional investors own 88.55% of the company’s stock.

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.