Insider Selling: ACV Auctions Inc. (NASDAQ:ACVA) VP Sells 1,795 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) VP Andrew Peer sold 1,795 shares of ACV Auctions stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $21.00, for a total transaction of $37,695.00. Following the sale, the vice president now directly owns 62,956 shares of the company’s stock, valued at approximately $1,322,076. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

ACV Auctions Price Performance

ACV Auctions stock opened at $20.75 on Thursday. The firm has a market cap of $3.46 billion, a PE ratio of -43.23 and a beta of 1.55. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49. The stock’s fifty day moving average price is $18.46 and its two-hundred day moving average price is $18.18. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $21.09.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. The company had revenue of $160.62 million for the quarter, compared to analysts’ expectations of $156.33 million. As a group, research analysts expect that ACV Auctions Inc. will post -0.36 EPS for the current fiscal year.

Institutional Trading of ACV Auctions

Institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank increased its stake 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 acquiring an additional 782 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of ACV Auctions by 14.7% in the 1st 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 in the last quarter. ProShare Advisors LLC increased its stake in shares of ACV Auctions by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock valued at $429,000 after purchasing an additional 1,798 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of ACV Auctions by 10.4% during the 2nd quarter. Arizona State Retirement System now owns 41,303 shares of the company’s stock worth $754,000 after buying an additional 3,881 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of ACV Auctions by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 77,547 shares of the company’s stock worth $1,456,000 after buying an additional 4,621 shares in the last quarter. Institutional investors own 88.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price objective for the company in a report on Monday, June 10th. Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Monday, June 3rd. Barrington Research reiterated an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Friday, August 16th. Finally, JMP Securities lifted their target price on ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, ACV Auctions presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

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.