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

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total transaction of $304,050.00. Following the completion of the transaction, the insider now directly owns 311,354 shares of the company’s stock, valued at approximately $6,311,145.58. The trade was a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, January 7th, Michael Waterman sold 30,162 shares of ACV Auctions stock. The shares were sold at an average price of $20.53, for a total transaction of $619,225.86.

ACV Auctions Price Performance

Shares of NASDAQ:ACVA opened at $21.17 on Friday. The stock has a market cap of $3.55 billion, a PE ratio of -45.04 and a beta of 1.69. The company’s fifty day moving average is $21.41 and its 200 day moving average is $19.88. ACV Auctions Inc. has a 52 week low of $13.52 and a 52 week high of $23.46. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ACVA shares. B. Riley raised their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler raised their price objective on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Jefferies Financial Group raised their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JMP Securities restated a “market outperform” rating and set a $25.00 price objective on shares of ACV Auctions in a research report on Monday, December 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 price objective (up previously from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.65.

Hedge Funds Weigh In On ACV Auctions

Large investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC grew its holdings in ACV Auctions by 36.0% in the 4th quarter. HighTower Advisors LLC now owns 34,216 shares of the company’s stock worth $739,000 after acquiring an additional 9,057 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in ACV Auctions by 21.3% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 26,006 shares of the company’s stock worth $562,000 after acquiring an additional 4,563 shares during the last quarter. Raymond James Financial Inc. bought a new stake in ACV Auctions in the 4th quarter worth $4,704,000. Arizona State Retirement System grew its holdings in ACV Auctions by 3.6% in the 4th quarter. Arizona State Retirement System now owns 44,126 shares of the company’s stock worth $953,000 after acquiring an additional 1,520 shares during the last quarter. Finally, Atria Investments Inc bought a new stake in ACV Auctions in the 4th quarter worth $333,000. Hedge funds and other 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.