ACV Auctions Inc. (NASDAQ:ACVA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of ACV Auctions Inc. (NASDAQ:ACVA) have earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $23.65.

ACVA has been the subject of several research reports. Piper Sandler boosted their price target on ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price (up previously from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. JMP Securities reissued a “market outperform” rating and issued a $25.00 price target on shares of ACV Auctions in a research note on Monday, December 16th. B. Riley upped their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Stephens began coverage on shares of ACV Auctions in a research note on Wednesday, January 22nd. They issued an “equal weight” rating and a $20.50 target price on the stock.

Insider Buying and Selling

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $21.65, for a total transaction of $703,625.00. Following the completion of the transaction, the chief financial officer now owns 490,482 shares of the company’s stock, valued at $10,618,935.30. This trade represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Waterman sold 30,162 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total transaction of $619,225.86. Following the completion of the transaction, the insider now owns 314,738 shares in the company, valued at approximately $6,461,571.14. This represents a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,162 shares of company stock worth $2,359,726. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On ACV Auctions

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its position in ACV Auctions by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after acquiring an additional 884 shares in the last quarter. MCF Advisors LLC boosted its stake 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 grew its holdings 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 valued at $56,000 after purchasing an additional 706 shares in the last quarter. Amalgamated Bank increased its stake in ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after buying an additional 782 shares during the period. Finally, KBC Group NV lifted its holdings in ACV Auctions by 80.4% during the 4th quarter. KBC Group NV now owns 7,406 shares of the company’s stock worth $160,000 after buying an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

ACV Auctions Price Performance

NASDAQ:ACVA opened at $21.44 on Thursday. The stock has a 50 day moving average of $21.61 and a two-hundred day moving average of $19.77. ACV Auctions has a 12 month low of $12.84 and a 12 month high of $23.46. The firm has a market cap of $3.59 billion, a P/E ratio of -45.62 and a beta of 1.69. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25.

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.