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

ACV Auctions Inc. (NASDAQ:ACVA) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $21.57.

Several equities analysts have recently commented on ACVA shares. Raymond James started coverage on shares of ACV Auctions in a research note on Friday, September 27th. They set a “market perform” rating and a $22.00 price objective for the company. JMP Securities upped 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 note on Tuesday, September 17th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Friday, August 16th.

Insider Buying and Selling

In related news, CFO William Zerella sold 32,500 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total value of $610,675.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at $9,216,156.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other ACV Auctions news, insider Michael Waterman sold 18,001 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total value of $338,238.79. Following the sale, the insider now owns 337,190 shares in the company, valued at approximately $6,335,800.10. 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 can be accessed through this link. Also, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was 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 approximately $9,216,156.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 741,926 shares of company stock valued at $14,285,765 over the last three months. Corporate insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On ACV Auctions

Hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank grew its holdings in ACV Auctions by 5,045.7% in the first quarter. Comerica Bank now owns 63,550 shares of the company’s stock worth $1,193,000 after purchasing an additional 62,315 shares during the period. Jennison Associates LLC grew its holdings in shares of ACV Auctions by 11.0% during the first quarter. Jennison Associates LLC now owns 3,954,432 shares of the company’s stock valued at $74,225,000 after buying an additional 393,423 shares during the last quarter. Congress Asset Management Co. MA grew its holdings in shares of ACV Auctions by 21.8% during the first quarter. Congress Asset Management Co. MA now owns 482,881 shares of the company’s stock valued at $9,064,000 after buying an additional 86,525 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of ACV Auctions by 4.1% during the second 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 during the last quarter. Finally, Swedbank AB purchased a new stake in shares of ACV Auctions during the first quarter valued at approximately $15,016,000. Hedge funds and other institutional investors own 88.55% of the company’s stock.

ACV Auctions Stock Performance

ACV Auctions stock opened at $19.05 on Tuesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.14 billion, a PE ratio of -39.69 and a beta of 1.56. The firm has a fifty day simple moving average of $19.20 and a two-hundred day simple moving average of $18.29. ACV Auctions has a twelve month low of $12.84 and a twelve month high of $21.10.

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 firm 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%. Research analysts expect that ACV Auctions will post -0.35 EPS for the current year.

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.