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 dated Tuesday, January 7th. The stock was sold at an average price of $20.57, for a total transaction of $308,550.00. Following the completion of the sale, the chief financial officer now directly owns 462,452 shares in the company, valued at $9,512,637.64. This trade represents a 3.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 value 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 value 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 transaction of $610,675.00.

ACV Auctions Stock Down 1.8 %

NASDAQ ACVA traded down $0.39 during trading on Friday, hitting $20.75. The company’s stock had a trading volume of 1,313,075 shares, compared to its average volume of 1,109,358. The business’s 50 day simple moving average is $21.19 and its 200-day simple moving average is $19.40. The company has a market cap of $3.48 billion, a PE ratio of -44.15 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $23.46.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in ACV Auctions by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after acquiring an additional 884 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of ACV Auctions by 107.0% in the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after purchasing an additional 765 shares during the period. Park Place Capital Corp raised its stake in shares of ACV Auctions by 34.1% in the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after purchasing an additional 706 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after purchasing an additional 782 shares during the period. Finally, Verdence Capital Advisors LLC purchased a new stake in ACV Auctions in the third quarter valued at approximately $206,000. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $25.00 price target on shares of ACV Auctions in a report on Monday, December 16th. B. Riley upped their target price on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Needham & Company LLC restated a “buy” rating and set a $28.00 price target (up previously from $26.00) on shares of ACV Auctions in a research note on Thursday, December 26th. Citigroup upped their price objective on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Raymond James started 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 on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, ACV Auctions has a consensus rating of “Moderate Buy” and a consensus target price of $23.80.

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.