Insider Selling: ACV Auctions Inc. (NASDAQ:ACVA) CFO Sells $703,625.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $21.65, for a total value of $703,625.00. Following the completion of the transaction, the chief financial officer now owns 490,482 shares of the company’s stock, valued at approximately $10,618,935.30. This represents a 6.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, November 26th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $22.41, for a total value of $728,325.00.
• On Tuesday, October 15th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $18.79, for a total value of $610,675.00.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $21.60 on Thursday. ACV Auctions Inc. 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 business’s 50 day moving average price is $20.72 and its 200 day moving average price is $19.26. The company has a market cap of $3.62 billion, a price-to-earnings ratio of -45.96 and a beta of 1.70.

Analyst Upgrades and Downgrades

ACVA has been the subject of several recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $25.00 price target on shares of ACV Auctions in a report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price (up previously from $26.00) on shares of ACV Auctions in a research note on Thursday, December 26th. Piper Sandler raised their price target on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Barrington Research restated an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. Finally, B. Riley lifted their price target on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.80.

Institutional Investors Weigh In On ACV Auctions

A number of hedge funds have recently modified their holdings of the company. William Blair Investment Management LLC increased its stake in ACV Auctions by 4.1% during the second quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock worth $91,499,000 after acquiring an additional 198,228 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of ACV Auctions during the 3rd quarter worth $566,000. Quantbot Technologies LP acquired a new stake in shares of ACV Auctions during the 3rd quarter worth about $2,035,000. State Street Corp raised its holdings in ACV Auctions by 3.7% in the 3rd quarter. State Street Corp now owns 3,242,388 shares of the company’s stock valued at $65,918,000 after buying an additional 115,700 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in ACV Auctions by 383.7% in the third quarter. Harbor Capital Advisors Inc. now owns 153,050 shares of the company’s stock valued at $3,112,000 after buying an additional 121,411 shares during the last quarter. Hedge funds and other 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.