ACV Auctions Inc. (NASDAQ:ACVA) CFO Sells $728,325.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total transaction of $728,325.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares of the company’s stock, valued at approximately $10,991,701.62. This trade represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, October 15th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $18.79, for a total value of $610,675.00.
• On Tuesday, September 17th, William Zerella sold 76,856 shares of ACV Auctions stock. The shares were sold at an average price of $20.26, for a total transaction of $1,557,102.56.

ACV Auctions Stock Down 0.4 %

ACV Auctions stock opened at $22.62 on Friday. The business’s 50-day moving average price is $19.69 and its 200 day moving average price is $18.69. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of -48.13 and a beta of 1.59. ACV Auctions Inc. has a 52 week low of $12.84 and a 52 week high of $23.46.

Institutional Investors Weigh In On ACV Auctions

Hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of ACV Auctions by 47.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,758,163 shares of the company’s stock valued at $141,586,000 after purchasing an additional 2,502,064 shares in the last quarter. Spyglass Capital Management LLC grew its position in ACV Auctions by 69.1% during the third quarter. Spyglass Capital Management LLC now owns 2,614,245 shares of the company’s stock valued at $53,148,000 after buying an additional 1,068,356 shares during the period. Wellington Management Group LLP purchased a new position in ACV Auctions in the third quarter valued at $21,540,000. Bank of New York Mellon Corp raised its position in shares of ACV Auctions by 217.5% in the second quarter. Bank of New York Mellon Corp now owns 1,391,070 shares of the company’s stock worth $25,387,000 after acquiring an additional 952,929 shares during the period. Finally, Swedbank AB purchased a new stake in shares of ACV Auctions during the 1st quarter worth about $15,016,000. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ACVA. Needham & Company LLC reissued a “buy” rating and set a $26.00 target price on shares of ACV Auctions in a research report on Tuesday. Jefferies Financial Group boosted their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. JMP Securities upped 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. Citigroup boosted their price target on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, B. Riley raised their price objective on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

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.