ACV Auctions Inc. (NASDAQ:ACVA) Insider Michael Waterman Sells 30,162 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 30,162 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total transaction of $619,225.86. Following the completion of the transaction, the insider now directly owns 314,738 shares in the company, valued at approximately $6,461,571.14. This represents a 8.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael Waterman also recently made the following trade(s):

• On Tuesday, October 15th, Michael Waterman sold 18,001 shares of ACV Auctions stock. The shares were sold at an average price of $18.79, for a total value of $338,238.79.

ACV Auctions Stock Performance

Shares of NASDAQ:ACVA opened at $20.75 on Friday. ACV Auctions Inc. has a 1 year low of $12.84 and a 1 year high of $23.46. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -44.15 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. The company’s 50 day simple moving average is $21.26 and its 200 day simple moving average is $19.42.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ACVA shares. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target (up from $26.00) on shares of ACV Auctions in a research note on Thursday, December 26th. Citigroup lifted their target price on ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Jefferies Financial Group upped their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. B. Riley boosted their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Raymond James started coverage on shares of ACV Auctions in a report on Friday, September 27th. They set a “market perform” rating and a $22.00 target price on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Hedge Funds Weigh In On ACV Auctions

Hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in ACV Auctions by 33.1% in the second quarter. Principal Financial Group Inc. now owns 61,903 shares of the company’s stock valued at $1,130,000 after buying an additional 15,390 shares in the last quarter. Rhumbline Advisers increased its position in ACV Auctions by 17.0% during the 2nd quarter. Rhumbline Advisers now owns 209,976 shares of the company’s stock worth $3,832,000 after purchasing an additional 30,450 shares in the last quarter. Arizona State Retirement System lifted its stake in ACV Auctions by 10.4% in the 2nd quarter. Arizona State Retirement System now owns 41,303 shares of the company’s stock valued at $754,000 after purchasing an additional 3,881 shares during the last quarter. William Blair Investment Management LLC boosted its position in ACV Auctions by 4.1% in the second quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock valued at $91,499,000 after buying an additional 198,228 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of ACV Auctions by 24.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 138,981 shares of the company’s stock worth $2,536,000 after buying an additional 27,091 shares during the last quarter. Institutional investors own 88.55% of the company’s stock.

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.