ACV Auctions (NASDAQ:ACVA) Price Target Increased to $25.00 by Analysts at Jefferies Financial Group

ACV Auctions (NASDAQ:ACVA) had its price target lifted by Jefferies Financial Group from $22.00 to $25.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 34.48% from the company’s previous close.

ACVA has been the topic of several other reports. Raymond James assumed coverage on shares of ACV Auctions in a research report on Friday, September 27th. They issued a “market perform” rating and a $22.00 price objective on the stock. Barrington Research restated an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a research report on Friday, August 16th. Finally, JMP Securities upped 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.00.

ACV Auctions Stock Down 2.4 %

ACVA stock opened at $18.59 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $19.21 and its 200 day moving average is $18.29. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -38.73 and a beta of 1.56. ACV Auctions has a 1-year low of $12.84 and a 1-year high of $21.10.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. The company had revenue of $160.62 million for the quarter, compared to analysts’ expectations of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. Sell-side analysts predict that ACV Auctions will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $15.19, for a total transaction of $493,675.00. Following the transaction, the chief financial officer now directly owns 503,077 shares in the company, valued at $7,641,739.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Andrew Peer sold 1,795 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $21.00, for a total value of $37,695.00. Following the transaction, the vice president now owns 62,956 shares in the company, valued at approximately $1,322,076. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 503,077 shares in the company, valued at $7,641,739.63. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 741,926 shares of company stock worth $14,285,765 over the last ninety days. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Comerica Bank grew its holdings in shares of ACV Auctions by 5,045.7% in the first quarter. Comerica Bank now owns 63,550 shares of the company’s stock worth $1,193,000 after purchasing an additional 62,315 shares during the last quarter. Jennison Associates LLC lifted its stake in ACV Auctions by 11.0% in the first quarter. Jennison Associates LLC now owns 3,954,432 shares of the company’s stock worth $74,225,000 after acquiring an additional 393,423 shares during the period. William Blair Investment Management LLC lifted its stake in ACV Auctions by 4.1% in the second quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock worth $91,499,000 after acquiring an additional 198,228 shares during the period. TimesSquare Capital Management LLC lifted its stake in ACV Auctions by 45.6% in the first quarter. TimesSquare Capital Management LLC now owns 1,765,822 shares of the company’s stock worth $33,144,000 after acquiring an additional 552,719 shares during the period. Finally, Swedbank AB purchased a new stake in ACV Auctions in the first quarter worth $15,016,000. Institutional investors own 88.55% of the company’s stock.

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.