ACV Auctions Inc. (NASDAQ:ACVA) VP Sells $37,695.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) VP Andrew Peer sold 1,795 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total transaction of $37,695.00. Following the sale, the vice president now owns 62,956 shares in the company, valued at $1,322,076. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

ACV Auctions Price Performance

NASDAQ:ACVA opened at $20.75 on Thursday. ACV Auctions Inc. has a 52-week low of $12.84 and a 52-week high of $21.09. The company has a market cap of $3.46 billion, a P/E ratio of -43.23 and a beta of 1.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.49 and a current ratio of 1.49. The stock’s 50-day simple moving average is $18.46 and its 200 day simple moving average is $18.18.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. The firm had revenue of $160.62 million for 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%. As a group, sell-side analysts forecast that ACV Auctions Inc. will post -0.36 EPS for the current fiscal year.

Institutional Trading of ACV Auctions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank grew its position in shares of ACV Auctions by 18.0% in the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after acquiring an additional 782 shares during the period. UMB Bank n.a. bought a new position in ACV Auctions during the first quarter worth about $114,000. Penn Mutual Asset Management LLC bought a new position in ACV Auctions during the fourth quarter worth about $153,000. Public Employees Retirement Association of Colorado acquired a new position in ACV Auctions during the second quarter worth approximately $225,000. Finally, Blair William & Co. IL raised its stake in ACV Auctions by 14.7% in the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after buying an additional 1,626 shares during the period. 88.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on ACVA. Barrington Research restated an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a report on Friday, August 16th. JPMorgan Chase & Co. raised ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price target on the stock in a research note on Monday, June 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Monday, June 3rd. Finally, JMP Securities lifted their target price on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, ACV Auctions presently has an average rating of “Moderate Buy” and an average target price of $21.50.

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.