ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella Sells 32,500 Shares

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $17.17, for a total value of $558,025.00. Following the completion of the transaction, the chief financial officer now directly owns 314,151 shares of the company’s stock, valued at $5,393,972.67. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, March 19th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $18.40, for a total value of $598,000.00.
• On Tuesday, March 5th, William Zerella sold 50,000 shares of ACV Auctions stock. The stock was sold at an average price of $18.72, for a total value of $936,000.00.
• On Tuesday, February 6th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $14.07, for a total value of $457,275.00.

ACV Auctions Price Performance

ACVA stock opened at $17.80 on Thursday. The company has a market capitalization of $2.92 billion, a P/E ratio of -38.70 and a beta of 1.57. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12. ACV Auctions Inc. has a 52-week low of $11.58 and a 52-week high of $19.54. The business has a 50-day simple moving average of $17.27 and a two-hundred day simple moving average of $15.42.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $118.38 million during the quarter, compared to the consensus estimate of $117.62 million. ACV Auctions had a negative return on equity of 13.97% and a negative net margin of 15.64%. Research analysts expect that ACV Auctions Inc. will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On ACV Auctions

Several hedge funds have recently modified their holdings of the company. Congress Asset Management Co. MA lifted its position in shares of ACV Auctions by 21.8% during the 1st quarter. Congress Asset Management Co. MA now owns 482,881 shares of the company’s stock worth $9,064,000 after buying an additional 86,525 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of ACV Auctions by 95.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 43,380 shares of the company’s stock worth $814,000 after buying an additional 21,230 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of ACV Auctions by 4.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 72,926 shares of the company’s stock worth $1,105,000 after buying an additional 3,427 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of ACV Auctions during the 4th quarter worth approximately $479,000. Finally, Legal & General Group Plc lifted its position in shares of ACV Auctions by 7.9% during the 4th quarter. Legal & General Group Plc now owns 130,640 shares of the company’s stock worth $1,979,000 after buying an additional 9,617 shares in the last quarter. Institutional investors own 88.55% of the company’s stock.

Analysts Set New Price Targets

ACVA has been the subject of several research reports. Northcoast Research upgraded ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Wednesday, January 10th. JMP Securities restated a “market outperform” rating and issued a $19.00 target price on shares of ACV Auctions in a research note on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of ACV Auctions in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, ACV Auctions presently has a consensus rating of “Moderate Buy” and an average target price of $20.21.

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.