Insider Selling: ACV Auctions Inc. (NASDAQ:ACVA) CFO Sells 15,000 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 15,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $13.53, for a total transaction of $202,950.00. Following the sale, the chief financial officer now directly owns 766,266 shares in the company, valued at $10,367,578.98. This trade represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, January 7th, William Zerella sold 15,000 shares of ACV Auctions stock. The shares were sold at an average price of $20.57, for a total value of $308,550.00.
• 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 value of $703,625.00.

ACV Auctions Stock Performance

Shares of NASDAQ ACVA traded down $0.28 during trading on Thursday, hitting $14.00. The company had a trading volume of 4,052,163 shares, compared to its average volume of 1,334,108. ACV Auctions Inc. has a 12 month low of $12.77 and a 12 month high of $23.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market capitalization of $2.36 billion, a P/E ratio of -28.57 and a beta of 1.73. The stock has a 50 day simple moving average of $19.53 and a 200 day simple moving average of $19.90.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The business had revenue of $159.51 million for the quarter, compared to the consensus estimate of $156.77 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. As a group, analysts anticipate that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

Institutional Investors Weigh In On ACV Auctions

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of ACV Auctions by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 14,245,915 shares of the company’s stock worth $307,712,000 after acquiring an additional 738,391 shares during the period. William Blair Investment Management LLC boosted its stake in ACV Auctions by 43.2% in the 4th quarter. William Blair Investment Management LLC now owns 12,099,686 shares of the company’s stock worth $261,353,000 after purchasing an additional 3,652,871 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in ACV Auctions by 11.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company’s stock valued at $175,969,000 after buying an additional 897,477 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of ACV Auctions by 5.3% during the fourth quarter. Alliancebernstein L.P. now owns 5,622,255 shares of the company’s stock valued at $121,441,000 after buying an additional 284,880 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of ACV Auctions by 17.2% in the fourth quarter. Jennison Associates LLC now owns 4,980,354 shares of the company’s stock worth $107,576,000 after buying an additional 732,422 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. B. Riley upped their target price on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Bank of America upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $22.00 to $20.00 in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and set a $25.00 target price on shares of ACV Auctions in a research note on Monday, December 16th. Citigroup raised their price target on ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of ACV Auctions in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.05.

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.