ACV Auctions Inc. (NASDAQ:ACVA) COO Sells $2,730,312.88 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) COO Vikas Mehta sold 145,928 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $18.71, for a total value of $2,730,312.88. Following the completion of the sale, the chief operating officer now owns 468,505 shares of the company’s stock, valued at approximately $8,765,728.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Vikas Mehta also recently made the following trade(s):

• On Monday, August 26th, Vikas Mehta sold 8,395 shares of ACV Auctions stock. The shares were sold at an average price of $19.21, for a total value of $161,267.95.

ACV Auctions Stock Down 1.0 %

Shares of ACV Auctions stock opened at $18.27 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.27. The company has a market cap of $3.02 billion, a P/E ratio of -38.06 and a beta of 1.54. The firm’s 50 day moving average price is $17.81 and its 200-day moving average price is $17.72. ACV Auctions Inc. has a 52-week low of $12.84 and a 52-week high of $19.86.

Institutional Investors Weigh In On ACV Auctions

Several institutional investors have recently bought and sold shares of the company. Amalgamated Bank lifted its holdings in shares of ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after purchasing an additional 782 shares during the last quarter. UMB Bank n.a. acquired a new position in ACV Auctions during the 1st quarter valued at about $114,000. Penn Mutual Asset Management LLC purchased a new stake in ACV Auctions in the fourth quarter valued at about $153,000. Public Employees Retirement Association of Colorado acquired a new stake in ACV Auctions in the second quarter worth about $225,000. Finally, Blair William & Co. IL grew its stake in shares of ACV Auctions by 14.7% during the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock worth $238,000 after acquiring an additional 1,626 shares during the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACVA has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of ACV Auctions in a research note on Monday, June 3rd. JPMorgan Chase & Co. upgraded shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price target for the company in a report on Monday, June 10th. Piper Sandler upped their price target on shares of ACV Auctions from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. JMP Securities reissued a “market outperform” rating and set a $21.00 price objective on shares of ACV Auctions in a report on Wednesday, July 10th. Finally, Barrington Research restated an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a report on Friday, August 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

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.