Insider Selling: ACV Auctions Inc. (NASDAQ:ACVA) CFO Sells $308,550.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were 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. The trade was a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, December 30th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $21.65, for a total transaction of $703,625.00.
• On Tuesday, November 26th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $22.41, for a total transaction of $728,325.00.
• On Tuesday, October 15th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $18.79, for a total value of $610,675.00.

ACV Auctions Trading Down 1.8 %

Shares of ACVA opened at $20.75 on Friday. ACV Auctions Inc. has a 1-year low of $12.84 and a 1-year high of $23.46. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $21.26 and its 200-day moving average price is $19.43. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -44.15 and a beta of 1.69.

Institutional Trading of ACV Auctions

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of ACV Auctions by 33.1% in the 2nd quarter. Principal Financial Group Inc. now owns 61,903 shares of the company’s stock valued at $1,130,000 after purchasing an additional 15,390 shares during the period. Rhumbline Advisers lifted its position in ACV Auctions by 17.0% during the second quarter. Rhumbline Advisers now owns 209,976 shares of the company’s stock valued at $3,832,000 after buying an additional 30,450 shares during the period. Arizona State Retirement System boosted 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 valued at $754,000 after buying an additional 3,881 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of 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 worth $91,499,000 after buying an additional 198,228 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of ACV Auctions by 24.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 138,981 shares of the company’s stock worth $2,536,000 after acquiring an additional 27,091 shares in the last quarter. 88.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ACVA. Needham & Company LLC restated a “buy” rating and set a $28.00 price target (up from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. Raymond James began coverage on shares of ACV Auctions in a research note on Friday, September 27th. They issued a “market perform” rating and a $22.00 target price on the stock. Citigroup increased their price target on shares of ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Jefferies Financial Group boosted their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, B. Riley increased their target price on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

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.