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

ACV Auctions Inc. (NASDAQ:ACVA) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $23.05.

A number of research analysts have issued reports on ACVA shares. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of ACV Auctions in a research note on Wednesday. Stephens raised ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Citigroup upped their price target on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. B. Riley raised their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 target price on shares of ACV Auctions in a report on Monday, December 16th.

Insider Activity at ACV Auctions

In other news, CFO William Zerella sold 15,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.57, for a total transaction of $308,550.00. Following the transaction, the chief financial officer now directly owns 462,452 shares of the company’s stock, valued at $9,512,637.64. This represents a 3.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Waterman sold 30,162 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total value of $619,225.86. Following the completion of the transaction, the insider now owns 314,738 shares in the company, valued at approximately $6,461,571.14. This trade represents a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,662 shares of company stock worth $2,138,401 over the last quarter. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On ACV Auctions

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of ACV Auctions in the fourth quarter worth approximately $4,026,000. Integrated Advisors Network LLC purchased a new position in shares of ACV Auctions during the 4th quarter worth $200,000. Mackenzie Financial Corp purchased a new position in shares of ACV Auctions during the 4th quarter worth $206,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of ACV Auctions by 27.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 269,394 shares of the company’s stock valued at $5,819,000 after acquiring an additional 58,138 shares during the period. Finally, Spyglass Capital Management LLC increased its stake in shares of ACV Auctions by 11.6% in the 4th quarter. Spyglass Capital Management LLC now owns 2,916,586 shares of the company’s stock worth $62,998,000 after purchasing an additional 302,341 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

ACV Auctions Stock Performance

Shares of ACVA stock opened at $14.00 on Friday. The company’s fifty day moving average price is $19.39 and its 200-day moving average price is $19.86. The stock has a market cap of $2.36 billion, a PE ratio of -28.57 and a beta of 1.73. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. ACV Auctions has a 12 month low of $12.77 and a 12 month high of $23.46.

ACV Auctions (NASDAQ:ACVA) last announced its earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The business had revenue of $159.51 million during the quarter, compared to the consensus estimate of $156.77 million. On average, equities analysts expect that ACV Auctions will post -0.07 EPS for the current fiscal year.

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.