ACV Auctions Inc. (NASDAQ:ACVA) Insider Sells $150,000.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Craig Eric Anderson sold 7,500 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $150,000.00. Following the transaction, the insider now owns 328,167 shares of the company’s stock, valued at approximately $6,563,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Craig Eric Anderson also recently made the following trade(s):

• On Tuesday, July 2nd, Craig Eric Anderson sold 7,500 shares of ACV Auctions stock. The shares were sold at an average price of $17.81, for a total transaction of $133,575.00.

ACV Auctions Trading Up 0.4 %

Shares of NASDAQ:ACVA traded up $0.08 on Monday, hitting $19.95. 1,048,248 shares of the company’s stock were exchanged, compared to its average volume of 1,226,437. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $20.79. The business’s 50 day simple moving average is $18.03 and its two-hundred day simple moving average is $18.05. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of -41.67 and a beta of 1.55. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings results 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 analyst estimates of $156.33 million. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. Analysts anticipate that ACV Auctions Inc. will post -0.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on ACVA shares. Barrington Research reissued an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Friday, August 16th. JPMorgan Chase & Co. upgraded ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price target on the stock in a report on Monday, June 10th. JMP Securities restated a “market outperform” rating and issued a $21.00 price target on shares of ACV Auctions in a research report on Monday, September 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Monday, June 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Institutional Trading of ACV Auctions

Several institutional investors and hedge funds have recently made changes to their positions in ACVA. Dimensional Fund Advisors LP increased its position in ACV Auctions by 21.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,846,726 shares of the company’s stock valued at $27,979,000 after purchasing an additional 329,854 shares during the period. Comerica Bank lifted its holdings in ACV Auctions by 5,045.7% during the first quarter. Comerica Bank now owns 63,550 shares of the company’s stock worth $1,193,000 after buying an additional 62,315 shares during the period. Jennison Associates LLC boosted its position in ACV Auctions by 11.0% during the 1st quarter. Jennison Associates LLC now owns 3,954,432 shares of the company’s stock valued at $74,225,000 after acquiring an additional 393,423 shares in the last quarter. Congress Asset Management Co. MA increased its holdings in shares of ACV Auctions by 21.8% in the 1st quarter. Congress Asset Management Co. MA now owns 482,881 shares of the company’s stock valued at $9,064,000 after acquiring an additional 86,525 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ACV Auctions by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,044,415 shares of the company’s stock worth $15,823,000 after acquiring an additional 18,626 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors.

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.