Andrew Peer Sells 1,795 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) VP Andrew Peer sold 1,795 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $21.00, for a total transaction of $37,695.00. Following the completion of the transaction, the vice president now owns 62,956 shares in the company, valued at approximately $1,322,076. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

ACV Auctions Stock Down 0.0 %

Shares of NASDAQ ACVA traded down $0.01 on Monday, reaching $20.74. 971,815 shares of the company’s stock traded hands, compared to its average volume of 1,236,129. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $18.34 and its two-hundred day simple moving average is $18.12. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $21.01. The company has a market cap of $3.42 billion, a price-to-earnings ratio of -43.25 and a beta of 1.55.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $160.62 million during the quarter, compared to analyst estimates of $156.33 million. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. As a group, equities research analysts forecast that ACV Auctions Inc. will post -0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on ACVA. JMP Securities upped their price objective on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 17th. 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 research note on Monday, June 10th. Barrington Research reaffirmed an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Friday, August 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Monday, June 3rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.50.

Institutional Trading of ACV Auctions

Institutional investors and hedge funds have recently modified their holdings of the business. Amalgamated Bank raised its holdings 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 purchasing an additional 782 shares during the last quarter. Blair William & Co. IL lifted its holdings 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 boosted its stake in shares of ACV Auctions by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock worth $429,000 after buying an additional 1,798 shares during the last quarter. Arizona State Retirement System grew its holdings 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 period. Finally, Price T Rowe Associates Inc. MD increased its position in 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 valued at $1,456,000 after acquiring an additional 4,621 shares during the last quarter. Institutional investors 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.