ACV Auctions Inc. (NASDAQ:ACVA) Insider Craig Eric Anderson Sells 7,500 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Craig Eric Anderson sold 7,500 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total value of $150,000.00. Following the transaction, the insider now directly owns 328,167 shares of the company’s stock, valued at $6,563,340. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Craig Eric Anderson also recently made the following trade(s):

• On Tuesday, July 2nd, Craig Eric Anderson sold 7,500 shares of ACV Auctions stock. The shares were sold at an average price of $17.81, for a total value of $133,575.00.

ACV Auctions Stock Performance

Shares of ACVA opened at $19.95 on Tuesday. The company has a 50-day moving average of $18.07 and a two-hundred day moving average of $18.06. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -41.56 and a beta of 1.55. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $20.79.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price target for the company in a report on Monday, June 10th. JMP Securities reissued a “market outperform” rating and set a $21.00 target price on shares of ACV Auctions in a research note on Monday, September 9th. Barrington Research restated an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a report on Friday, August 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of ACV Auctions in a report on Monday, June 3rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ACVA. Amalgamated Bank grew its position in 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 purchasing an additional 782 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of ACV Auctions by 14.7% during the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after buying an additional 1,626 shares during the period. ProShare Advisors LLC grew its holdings in shares of ACV Auctions by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock valued at $429,000 after acquiring an additional 1,798 shares in the last quarter. Arizona State Retirement System increased its stake in shares of ACV Auctions by 10.4% in the second quarter. Arizona State Retirement System now owns 41,303 shares of the company’s stock worth $754,000 after acquiring an additional 3,881 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings 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 acquiring an additional 4,621 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

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.