ACV Auctions Inc. (NASDAQ:ACVA) Insider Michael Waterman Sells 75,000 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 75,000 shares of ACV Auctions stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $20.24, for a total transaction of $1,518,000.00. Following the sale, the insider now directly owns 366,710 shares in the company, valued at approximately $7,422,210.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, July 9th, Michael Waterman sold 26,336 shares of ACV Auctions stock. The stock was sold at an average price of $17.51, for a total transaction of $461,143.36.

ACV Auctions Stock Up 2.1 %

ACVA stock opened at $20.67 on Friday. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $21.01. The firm has a market cap of $3.41 billion, a PE ratio of -43.06 and a beta of 1.55. The firm’s 50 day moving average price is $18.20 and its 200-day moving average price is $18.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.49 and a current ratio of 1.49.

ACV Auctions (NASDAQ:ACVA) last posted its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping 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 company had revenue of $160.62 million during the quarter, compared to analysts’ expectations of $156.33 million. On average, equities research analysts anticipate that ACV Auctions Inc. will post -0.36 EPS for the current year.

Institutional Trading of ACV Auctions

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank increased its position in shares of ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after acquiring an additional 782 shares during the last quarter. Blair William & Co. IL increased its holdings in ACV Auctions by 14.7% in the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after purchasing an additional 1,626 shares during the last quarter. ProShare Advisors LLC raised its position in ACV Auctions by 8.5% in the first quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock valued at $429,000 after purchasing an additional 1,798 shares during the period. Arizona State Retirement System lifted its stake in ACV Auctions by 10.4% during the second quarter. Arizona State Retirement System now owns 41,303 shares of the company’s stock worth $754,000 after purchasing an additional 3,881 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of ACV Auctions by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 77,547 shares of the company’s stock worth $1,456,000 after buying an additional 4,621 shares during the period. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACVA has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Monday, June 3rd. Barrington Research restated an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a research report on Friday, August 16th. JPMorgan Chase & Co. raised ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price objective on the stock in a research note on Monday, June 10th. Finally, JMP Securities raised their target price on ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, ACV Auctions presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

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.