ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella Sells 32,500 Shares

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total transaction of $610,675.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares in the company, valued at $9,216,156.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, September 17th, William Zerella sold 76,856 shares of ACV Auctions stock. The stock was sold at an average price of $20.26, for a total transaction of $1,557,102.56.
• On Tuesday, August 6th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $15.19, for a total transaction of $493,675.00.

ACV Auctions Stock Performance

ACVA opened at $19.20 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.24. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month high of $21.10. The business has a 50 day moving average of $19.17 and a 200-day moving average of $18.29. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -40.00 and a beta of 1.56.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating 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 business had revenue of $160.62 million for the quarter, compared to analysts’ expectations of $156.33 million. On average, equities research analysts expect that ACV Auctions Inc. will post -0.35 earnings per share for the current year.

Institutional Trading of ACV Auctions

Several hedge funds and other institutional investors have recently modified their holdings of ACVA. Comerica Bank lifted its position in ACV Auctions by 5,045.7% during the first quarter. Comerica Bank now owns 63,550 shares of the company’s stock worth $1,193,000 after acquiring an additional 62,315 shares during the last quarter. Jennison Associates LLC lifted its holdings in ACV Auctions by 11.0% during the 1st quarter. Jennison Associates LLC now owns 3,954,432 shares of the company’s stock worth $74,225,000 after purchasing an additional 393,423 shares during the last quarter. Congress Asset Management Co. MA boosted its stake in ACV Auctions by 21.8% in the 1st quarter. Congress Asset Management Co. MA now owns 482,881 shares of the company’s stock valued at $9,064,000 after purchasing an additional 86,525 shares during the period. William Blair Investment Management LLC grew its holdings in ACV Auctions by 4.1% in the 2nd quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock valued at $91,499,000 after buying an additional 198,228 shares in the last quarter. Finally, Swedbank AB bought a new position in ACV Auctions during the 1st quarter worth $15,016,000. Institutional investors own 88.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JMP Securities boosted their price objective on shares of ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 17th. Barrington Research reissued an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Friday, August 16th. Finally, Raymond James started coverage on ACV Auctions in a research report on Friday, September 27th. They set a “market perform” rating and a $22.00 price objective for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ACV Auctions has a consensus rating of “Moderate Buy” and an average target price of $21.57.

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.