Michael Waterman Sells 75,000 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $20.24, for a total value of $1,518,000.00. Following the completion of the sale, the insider now owns 366,710 shares in the company, valued at approximately $7,422,210.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, July 9th, Michael Waterman sold 26,336 shares of ACV Auctions stock. The stock was sold at an average price of $17.51, for a total value of $461,143.36.

ACV Auctions Trading Up 0.4 %

Shares of ACVA stock opened at $20.75 on Friday. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $21.01. The stock’s fifty day moving average price is $18.27 and its two-hundred day moving average price is $18.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $3.43 billion, a PE ratio of -43.42 and a beta of 1.55.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. The business had revenue of $160.62 million during the quarter, compared to the consensus estimate of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. Equities analysts predict that ACV Auctions Inc. will post -0.36 EPS for the current fiscal year.

Analyst Ratings Changes

ACVA has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Friday, August 16th. JPMorgan Chase & Co. upgraded shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price target on the stock in a research note on Monday, June 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of ACV Auctions in a report on Monday, June 3rd. Finally, JMP Securities increased their price target on ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Institutional Investors Weigh In On ACV Auctions

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank raised its position in ACV Auctions by 18.0% in the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after purchasing an additional 782 shares during the last quarter. UMB Bank n.a. bought a new position in ACV Auctions in the 1st quarter valued at approximately $114,000. Penn Mutual Asset Management LLC acquired a new stake in ACV Auctions during the 4th quarter worth approximately $153,000. Public Employees Retirement Association of Colorado bought a new position in shares of ACV Auctions during the second quarter valued at $225,000. Finally, Blair William & Co. IL increased its holdings in ACV Auctions by 14.7% in the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after purchasing an additional 1,626 shares during the period. 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.