William Zerella Sells 15,000 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 15,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.57, for a total transaction of $308,550.00. Following the transaction, the chief financial officer now owns 462,452 shares of the company’s stock, valued at approximately $9,512,637.64. The trade was a 3.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, December 30th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $21.65, for a total transaction of $703,625.00.
• On Tuesday, November 26th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $22.41, for a total transaction of $728,325.00.
• On Tuesday, October 15th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $18.79, for a total value of $610,675.00.

ACV Auctions Trading Down 1.8 %

ACV Auctions stock opened at $20.75 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $23.46. The stock has a market cap of $3.48 billion, a P/E ratio of -44.15 and a beta of 1.69. The firm’s fifty day moving average price is $21.26 and its 200-day moving average price is $19.43.

Analyst Ratings Changes

ACVA has been the topic of a number of recent research reports. Citigroup upped their price target on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Barrington Research reiterated an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. Raymond James began coverage on shares of ACV Auctions in a research report on Friday, September 27th. They issued a “market perform” rating and a $22.00 price target on the stock. Jefferies Financial Group raised their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, JMP Securities reissued a “market outperform” rating and set a $25.00 target price on shares of ACV Auctions in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, ACV Auctions presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Hedge Funds Weigh In On ACV Auctions

Institutional investors have recently added to or reduced their stakes in the business. Park Place Capital Corp grew its holdings in shares of ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after purchasing an additional 706 shares in the last quarter. MCF Advisors LLC grew its stake in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after buying an additional 765 shares in the last quarter. Amalgamated Bank increased its holdings in shares of ACV Auctions by 18.0% in the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after buying an additional 782 shares during the last quarter. Blue Trust Inc. raised its position in shares of ACV Auctions by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after buying an additional 884 shares in the last quarter. Finally, Icon Wealth Advisors LLC lifted its holdings in shares of ACV Auctions by 13.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company’s stock worth $225,000 after acquiring an additional 1,317 shares during the last quarter. 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.