ACV Auctions (NASDAQ:ACVA) Price Target Raised to $27.00

ACV Auctions (NASDAQ:ACVA) had its target price boosted by B. Riley from $24.00 to $27.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Barrington Research reaffirmed an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Monday, November 4th. Piper Sandler upped their price target on ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group lifted their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Raymond James started coverage on shares of ACV Auctions in a research note on Friday, September 27th. They issued a “market perform” rating and a $22.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 target price on shares of ACV Auctions in a report on Tuesday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

ACV Auctions Trading Up 1.4 %

NASDAQ ACVA opened at $22.71 on Tuesday. The firm’s fifty day moving average is $19.65 and its two-hundred day moving average is $18.66. ACV Auctions has a one year low of $12.84 and a one year high of $23.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market cap of $3.81 billion, a PE ratio of -48.32 and a beta of 1.59.

Insiders Place Their Bets

In related news, CEO George Chamoun sold 111,363 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $20.27, for a total value of $2,257,328.01. Following the sale, the chief executive officer now directly owns 928,166 shares of the company’s stock, valued at approximately $18,813,924.82. This represents a 10.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $610,675.00. Following the transaction, the chief financial officer now owns 490,482 shares of the company’s stock, valued at approximately $9,216,156.78. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 525,937 shares of company stock worth $10,479,997. 8.50% of the stock is owned by company insiders.

Institutional Trading of ACV Auctions

Several large investors have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in shares of ACV Auctions by 165.2% during the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after acquiring an additional 884 shares during the last quarter. MCF Advisors LLC lifted its holdings in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after purchasing an additional 765 shares in the last quarter. Park Place Capital Corp boosted its stake in shares of ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after purchasing an additional 706 shares during the last quarter. Amalgamated Bank grew 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 worth $93,000 after buying an additional 782 shares in the last quarter. Finally, Verdence Capital Advisors LLC acquired a new position in shares of ACV Auctions in the third quarter valued at approximately $206,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

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.