ACV Auctions Inc. (NASDAQ:ACVA) Receives Average Rating of “Moderate Buy” from Analysts

ACV Auctions Inc. (NASDAQ:ACVA) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $23.65.

A number of brokerages have recently weighed in on ACVA. Citigroup lifted their price objective on ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Stephens upgraded shares of ACV Auctions to a “hold” rating in a report on Saturday, February 1st. Barrington Research reissued an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Monday, November 4th. Piper Sandler raised their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group boosted their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd.

Insider Buying and Selling

In related news, insider Michael Waterman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $20.27, for a total value of $304,050.00. Following the sale, the insider now owns 311,354 shares in the company, valued at $6,311,145.58. This represents a 4.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total value of $728,325.00. Following the transaction, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at approximately $10,991,701.62. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,162 shares of company stock worth $2,663,776 in the last three months. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACV Auctions

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in ACV Auctions by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after purchasing an additional 884 shares in the last quarter. MCF Advisors LLC lifted 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 worth $30,000 after buying an additional 765 shares in the last quarter. KBC Group NV lifted its stake in shares of ACV Auctions by 80.4% in the fourth 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. Verdence Capital Advisors LLC purchased a new stake in shares of ACV Auctions during the third quarter valued at approximately $206,000. Finally, LPL Financial LLC bought a new stake in shares of ACV Auctions during the fourth quarter valued at approximately $226,000. 88.55% of the stock is owned by hedge funds and other institutional investors.

ACV Auctions Price Performance

NASDAQ ACVA opened at $21.59 on Monday. ACV Auctions has a 1 year low of $13.66 and a 1 year high of $23.46. The stock has a market capitalization of $3.62 billion, a PE ratio of -45.94 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. The business’s 50-day moving average is $21.31 and its 200 day moving average is $20.05.

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.