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

ACV Auctions (NASDAQ:ACVA) had its price target upped by Jefferies Financial Group from $22.00 to $25.00 in a report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on the stock. Raymond James began coverage on shares of ACV Auctions in a report on Friday, September 27th. They issued a “market perform” rating and a $22.00 price target on the stock. Barrington Research restated an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Friday, August 16th. Finally, JMP Securities raised their price objective on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.00.

ACV Auctions Trading Down 0.2 %

NASDAQ ACVA opened at $18.56 on Tuesday. The stock has a market capitalization of $3.06 billion, a P/E ratio of -38.67 and a beta of 1.56. ACV Auctions has a 52-week low of $12.84 and a 52-week high of $21.10. The firm has a 50-day moving average price of $19.21 and a 200 day moving average price of $18.29. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.24.

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

Insider Activity

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

Institutional Trading of ACV Auctions

A number of institutional investors have recently bought and sold shares of ACVA. Allspring Global Investments Holdings LLC increased its stake in shares of ACV Auctions by 23.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 578,266 shares of the company’s stock worth $11,756,000 after purchasing an additional 108,861 shares during the period. Blue Trust Inc. increased its stake in shares of ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after purchasing an additional 884 shares during the period. Creative Planning increased its stake in shares of ACV Auctions by 129.4% in the third quarter. Creative Planning now owns 27,935 shares of the company’s stock worth $568,000 after purchasing an additional 15,758 shares during the period. Essex Investment Management Co. LLC bought a new position in ACV Auctions during the third quarter valued at about $2,915,000. Finally, Park Place Capital Corp increased its stake in ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after acquiring an additional 706 shares during the period. Institutional investors and hedge funds 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.