Insider Selling: ACV Auctions Inc. (NASDAQ:ACVA) CFO Sells 76,856 Shares of Stock

by · The Markets Daily

ACV Auctions Inc. (NASDAQ:ACVA – Get Free Report) CFO William Zerella sold 76,856 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $20.26, for a total value of $1,557,102.56. Following the completion of the transaction, the chief financial officer now directly owns 503,077 shares of the company’s stock, valued at $10,192,340.02. The sale was disclosed in a filing with the SEC, which is available through this link.

William Zerella also recently made the following trade(s):

  • On Tuesday, August 6th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $15.19, for a total value of $493,675.00.
  • On Tuesday, July 9th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $17.51, for a total value of $569,075.00.

ACV Auctions Stock Performance

NASDAQ:ACVA opened at $20.75 on Friday. The company has a 50-day moving average of $18.27 and a 200-day moving average of $18.11. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of -43.42 and a beta of 1.55. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24. ACV Auctions Inc. has a twelve month low of $12.84 and a twelve month high of $21.01.

ACV Auctions (NASDAQ:ACVA – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. The business had revenue of $160.62 million during the quarter, compared to analyst estimates of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. Analysts forecast that ACV Auctions Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ACVA shares. JPMorgan Chase & Co. raised shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price objective for the company in a report on Monday, June 10th. Barrington Research reaffirmed an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Friday, August 16th. JMP Securities raised their price objective on shares of ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Monday, June 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Check Out Our Latest Analysis on ACVA

Institutional Investors Weigh In On ACV Auctions

Several large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in shares of ACV Auctions by 47.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,758,163 shares of the company’s stock worth $141,586,000 after purchasing an additional 2,502,064 shares during the period. William Blair Investment Management LLC increased its stake in ACV Auctions by 4.1% in the 2nd quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock worth $91,499,000 after purchasing an additional 198,228 shares in the last quarter. Jennison Associates LLC raised its holdings in ACV Auctions by 11.0% during the 1st quarter. Jennison Associates LLC now owns 3,954,432 shares of the company’s stock worth $74,225,000 after buying an additional 393,423 shares during the period. Dimensional Fund Advisors LP lifted its stake in ACV Auctions by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,103,770 shares of the company’s stock valued at $38,394,000 after buying an additional 163,380 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its holdings in shares of ACV Auctions by 45.6% in the first quarter. TimesSquare Capital Management LLC now owns 1,765,822 shares of the company’s stock worth $33,144,000 after buying an additional 552,719 shares during the period. 88.55% of the stock is owned by institutional investors.

ACV Auctions Company Profile

(Get Free Report)

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.

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