ACV Auctions Inc. (NASDAQ:ACVA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of ACV Auctions Inc. (NASDAQ:ACVA) have earned an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $23.05.

Several brokerages recently commented on ACVA. B. Riley increased their price target on ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC reissued a “buy” rating and set a $25.00 price target on shares of ACV Auctions in a research report on Wednesday, March 12th. Stephens raised ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Bank of America raised ACV Auctions from a “neutral” rating to a “buy” rating and cut their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, March 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of ACV Auctions in a research report on Monday, December 16th.

Insider Buying and Selling

In other ACV Auctions news, CFO William Zerella sold 15,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was 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 in the company, valued at $9,512,637.64. This trade represents a 3.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Waterman sold 30,162 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total value of $619,225.86. Following the transaction, the insider now owns 314,738 shares in the company, valued at approximately $6,461,571.14. This trade represents a 8.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,662 shares of company stock valued at $2,138,401. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On ACV Auctions

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in shares of ACV Auctions by 65.8% in the 4th quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock valued at $48,000 after purchasing an additional 933 shares during the last quarter. KBC Group NV increased its stake in shares of ACV Auctions by 80.4% in the 4th quarter. KBC Group NV now owns 7,406 shares of the company’s stock valued at $160,000 after purchasing an additional 3,300 shares during the last quarter. Integrated Advisors Network LLC bought a new position in shares of ACV Auctions in the 4th quarter valued at $200,000. Mackenzie Financial Corp bought a new position in shares of ACV Auctions in the 4th quarter valued at $206,000. Finally, Icon Wealth Advisors LLC increased its stake in shares of ACV Auctions by 13.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company’s stock valued at $225,000 after purchasing an additional 1,317 shares during the last quarter. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Stock Down 4.1 %

NASDAQ:ACVA opened at $14.10 on Friday. The stock has a 50-day simple moving average of $19.00 and a 200 day simple moving average of $19.78. ACV Auctions has a 52-week low of $12.77 and a 52-week 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 company has a market cap of $2.38 billion, a PE ratio of -28.78 and a beta of 1.73.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. The firm had revenue of $159.51 million during the quarter, compared to analysts’ expectations of $156.77 million. On average, sell-side analysts expect that ACV Auctions will post -0.07 EPS for the current fiscal year.

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.