ACV Auctions Inc. (NASDAQ:ACVA) Director Sells $121,740.84 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) Director Robert P. Goodman sold 6,084 shares of the stock in a transaction dated Tuesday, September 14th. The shares were sold at an average price of $20.01, for a total transaction of $121,740.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of ACVA traded up $1.20 during mid-day trading on Thursday, reaching $21.09. 1,441,502 shares of the stock traded hands, compared to its average volume of 728,150. The firm has a fifty day moving average of $21.43. ACV Auctions Inc. has a 12-month low of $18.18 and a 12-month high of $37.77.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings data on Tuesday, August 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.10. As a group, analysts forecast that ACV Auctions Inc. will post -0.69 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of ACVA. Morgan Stanley purchased a new stake in shares of ACV Auctions during the first quarter valued at approximately $40,000. Royal Bank of Canada grew its position in shares of ACV Auctions by 443.3% during the second quarter. Royal Bank of Canada now owns 1,630 shares of the company’s stock worth $42,000 after buying an additional 1,330 shares in the last quarter. Advisor Group Holdings Inc. grew its position in shares of ACV Auctions by 175.1% during the second quarter. Advisor Group Holdings Inc. now owns 3,301 shares of the company’s stock worth $85,000 after buying an additional 2,101 shares in the last quarter. UBS Group AG acquired a new stake in shares of ACV Auctions during the first quarter worth approximately $121,000. Finally, Cordasco Financial Network acquired a new stake in shares of ACV Auctions during the second quarter worth approximately $192,000. Institutional investors own 26.03% of the company’s stock.

ACVA has been the topic of several research analyst reports. Piper Sandler raised shares of ACV Auctions from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $30.00 to $26.00 in a research report on Tuesday, August 17th. Citigroup raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $29.00 to $23.00 in a research report on Monday, August 23rd. Jefferies Financial Group initiated coverage on shares of ACV Auctions in a research report on Friday, July 23rd. They issued a “buy” rating and a $41.00 target price on the stock. JPMorgan Chase & Co. raised shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $30.00 target price on the stock in a research report on Wednesday, August 4th. Finally, Bank of America raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and raised their target price for the stock from $33.00 to $35.00 in a research report on Friday, August 13th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $34.73.

About ACV Auctions

ACV Auctions, Inc, operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. It also provides data services that offer transparent and accurate vehicle information to customers. ACV Auctions, Inc was incorporated in 2014 and is based in Buffalo, New York.

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