William Zerella Sells 32,500 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $17.17, for a total value of $558,025.00. Following the sale, the chief financial officer now directly owns 314,151 shares of the company’s stock, valued at $5,393,972.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

William Zerella also recently made the following trade(s):

• On Tuesday, March 19th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $18.40, for a total value of $598,000.00.
• On Tuesday, March 5th, William Zerella sold 50,000 shares of ACV Auctions stock. The shares were sold at an average price of $18.72, for a total value of $936,000.00.
• On Tuesday, February 6th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $14.07, for a total value of $457,275.00.

ACV Auctions Price Performance

NASDAQ ACVA opened at $17.30 on Friday. ACV Auctions Inc. has a fifty-two week low of $11.58 and a fifty-two week high of $19.54. The stock’s 50-day moving average is $17.33 and its two-hundred day moving average is $15.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.12. The firm has a market cap of $2.84 billion, a P/E ratio of -37.61 and a beta of 1.57.

ACV Auctions (NASDAQ:ACVA) last posted its earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.01. ACV Auctions had a negative return on equity of 13.97% and a negative net margin of 15.64%. The company had revenue of $118.38 million for the quarter, compared to analyst estimates of $117.62 million. On average, analysts anticipate that ACV Auctions Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ACVA shares. JMP Securities restated a “market outperform” rating and issued a $19.00 target price on shares of ACV Auctions in a report on Wednesday. Northcoast Research upgraded ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a report on Wednesday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.21.

Hedge Funds Weigh In On ACV Auctions

Several institutional investors have recently bought and sold shares of ACVA. Envestnet Asset Management Inc. bought a new position in ACV Auctions during the first quarter valued at about $181,000. Advisor Group Holdings Inc. grew its position in shares of ACV Auctions by 18.6% in the first quarter. Advisor Group Holdings Inc. now owns 10,397 shares of the company’s stock valued at $153,000 after purchasing an additional 1,627 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of ACV Auctions by 3.2% in the first quarter. Bank of New York Mellon Corp now owns 49,679 shares of the company’s stock valued at $736,000 after purchasing an additional 1,547 shares during the last quarter. Citigroup Inc. grew its position in shares of ACV Auctions by 359.1% in the first quarter. Citigroup Inc. now owns 3,641 shares of the company’s stock valued at $54,000 after purchasing an additional 2,848 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of ACV Auctions in the first quarter valued at about $2,195,000. 88.55% of the stock is currently owned by institutional investors.

About ACV Auctions

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.