Piper Sandler Issues Positive Forecast for ACV Auctions (NASDAQ:ACVA) Stock Price

ACV Auctions (NASDAQ:ACVA) had its price target upped by Piper Sandler from $16.00 to $18.00 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

ACVA has been the subject of several other reports. Raymond James began coverage on shares of ACV Auctions in a report on Friday, September 27th. They set a “market perform” rating and a $22.00 target price for the company. JMP Securities raised their price objective on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 17th. Jefferies Financial Group increased their price target on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Barrington Research restated an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.63.

ACV Auctions Trading Up 3.2 %

Shares of NASDAQ:ACVA traded up $0.63 during trading on Friday, reaching $20.13. 3,406,375 shares of the company were exchanged, compared to its average volume of 1,211,854. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49. The business’s fifty day simple moving average is $19.06 and its 200-day simple moving average is $18.31. The firm has a market capitalization of $3.35 billion, a PE ratio of -41.94 and a beta of 1.59. ACV Auctions has a 12-month low of $12.84 and a 12-month high of $21.22.

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 the consensus estimate 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 the consensus estimate of $156.33 million. On average, research analysts anticipate that ACV Auctions will post -0.35 EPS for the current year.

Insider Activity at ACV Auctions

In other ACV Auctions news, VP Andrew Peer sold 1,795 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the sale, the vice president now owns 62,956 shares of the company’s stock, valued at approximately $1,322,076. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Andrew Peer sold 1,795 shares of ACV Auctions stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total transaction of $37,695.00. Following the completion of the transaction, the vice president now owns 62,956 shares of the company’s stock, valued at $1,322,076. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Craig Eric Anderson sold 7,500 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $150,000.00. Following the completion of the sale, the insider now directly owns 328,167 shares in the company, valued at approximately $6,563,340. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 709,426 shares of company stock worth $13,792,090 in the last three months. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On ACV Auctions

Several hedge funds have recently modified their holdings of ACVA. Intech Investment Management LLC acquired a new position in ACV Auctions during the 3rd quarter worth approximately $815,000. Jennison Associates LLC grew its stake in shares of ACV Auctions by 6.8% during the third quarter. Jennison Associates LLC now owns 4,247,932 shares of the company’s stock valued at $86,360,000 after acquiring an additional 271,970 shares in the last quarter. RiverPark Advisors LLC purchased a new position in ACV Auctions in the third quarter valued at about $301,000. Oppenheimer Asset Management Inc. increased its holdings in ACV Auctions by 43.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 199,972 shares of the company’s stock worth $4,065,000 after purchasing an additional 60,991 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in ACV Auctions during the 3rd quarter valued at $287,000. 88.55% of the stock is owned by institutional investors and hedge funds.

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.