ACV Auctions Inc. (NASDAQ:ACVA) Insider Michael Waterman Sells 15,000 Shares

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 15,000 shares of ACV Auctions stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total transaction of $304,050.00. Following the sale, the insider now directly owns 311,354 shares in the company, valued at $6,311,145.58. The trade was a 4.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Michael Waterman also recently made the following trade(s):

• On Tuesday, January 7th, Michael Waterman sold 30,162 shares of ACV Auctions stock. The shares were sold at an average price of $20.53, for a total transaction of $619,225.86.

ACV Auctions Stock Up 1.0 %

Shares of ACV Auctions stock opened at $21.17 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a market capitalization of $3.55 billion, a PE ratio of -45.04 and a beta of 1.69. ACV Auctions Inc. has a 52-week low of $13.52 and a 52-week high of $23.46. The company has a 50-day simple moving average of $21.41 and a two-hundred day simple moving average of $19.88.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. HighTower Advisors LLC raised its holdings in ACV Auctions by 36.0% in the fourth quarter. HighTower Advisors LLC now owns 34,216 shares of the company’s stock worth $739,000 after buying an additional 9,057 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in shares of ACV Auctions by 21.3% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 26,006 shares of the company’s stock valued at $562,000 after purchasing an additional 4,563 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of ACV Auctions during the fourth quarter valued at approximately $4,704,000. Arizona State Retirement System raised its holdings in shares of ACV Auctions by 3.6% during the fourth quarter. Arizona State Retirement System now owns 44,126 shares of the company’s stock valued at $953,000 after purchasing an additional 1,520 shares during the last quarter. Finally, Atria Investments Inc purchased a new position in shares of ACV Auctions during the fourth quarter valued at approximately $333,000. 88.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 target price on shares of ACV Auctions in a research note on Monday, December 16th. B. Riley lifted their target price 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. Stephens raised shares of ACV Auctions to a “hold” rating in a research note on Saturday, February 1st. Finally, Citigroup boosted 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.65.

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.