ACV Auctions Inc. (NASDAQ:ACVA) CFO Sells $493,675.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $15.19, for a total transaction of $493,675.00. Following the completion of the sale, the chief financial officer now owns 503,077 shares in the company, valued at $7,641,739.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, July 9th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $17.51, for a total transaction of $569,075.00.
• On Tuesday, June 11th, William Zerella sold 276,900 shares of ACV Auctions stock. The stock was sold at an average price of $18.13, for a total value of $5,020,197.00.

ACV Auctions Stock Down 1.4 %

ACVA opened at $17.79 on Friday. The company has a market capitalization of $2.94 billion, a PE ratio of -37.06 and a beta of 1.54. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.62. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $19.63. The business has a 50-day moving average of $17.63 and a 200-day moving average of $17.28.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $145.69 million for the quarter, compared to the consensus estimate of $144.14 million. ACV Auctions had a negative net margin of 15.28% and a negative return on equity of 13.50%. Equities research analysts forecast that ACV Auctions Inc. will post -0.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of ACV Auctions in a research report on Wednesday, July 10th. Barrington Research reiterated an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a report on Monday, August 5th. Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of ACV Auctions in a report on Monday, June 3rd. Piper Sandler upped their price target on shares of ACV Auctions from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. upgraded ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price target on the stock in a report on Monday, June 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, ACV Auctions presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. UMB Bank n.a. bought a new stake in ACV Auctions in the first quarter worth $114,000. Penn Mutual Asset Management LLC bought a new stake in shares of ACV Auctions during the 4th quarter worth about $153,000. Blair William & Co. IL increased its holdings in shares of ACV Auctions by 14.7% during the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after acquiring an additional 1,626 shares during the last quarter. Ieq Capital LLC bought a new position in shares of ACV Auctions in the 4th quarter valued at approximately $249,000. Finally, FineMark National Bank & Trust acquired a new stake in ACV Auctions in the 4th quarter worth approximately $381,000. 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.