Insider Selling: ACV Auctions Inc. (NASDAQ:ACVA) Insider Sells $138,750.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Craig Eric Anderson sold 7,500 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $18.50, for a total value of $138,750.00. Following the completion of the transaction, the insider now directly owns 194,525 shares of the company’s stock, valued at approximately $3,598,712.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Craig Eric Anderson also recently made the following trade(s):

• On Thursday, March 28th, Craig Eric Anderson sold 5,000 shares of ACV Auctions stock. The stock was sold at an average price of $19.07, for a total value of $95,350.00.
• On Wednesday, February 28th, Craig Eric Anderson sold 5,000 shares of ACV Auctions stock. The stock was sold at an average price of $18.00, for a total value of $90,000.00.

ACV Auctions Price Performance

ACVA stock opened at $17.70 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.12. The business has a 50 day simple moving average of $17.08 and a 200-day simple moving average of $15.38. The firm has a market capitalization of $2.90 billion, a PE ratio of -38.48 and a beta of 1.57. ACV Auctions Inc. has a 1 year low of $11.58 and a 1 year high of $19.54.

ACV Auctions (NASDAQ:ACVA) last posted 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. ACV Auctions had a negative return on equity of 13.97% and a negative net margin of 15.64%. The business had revenue of $118.38 million during the quarter, compared to analyst estimates of $117.62 million. Equities research analysts anticipate that ACV Auctions Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. UBS Group AG lifted its holdings in ACV Auctions by 47.5% in the fourth quarter. UBS Group AG now owns 3,725 shares of the company’s stock valued at $31,000 after acquiring an additional 1,200 shares during the last quarter. Park Place Capital Corp lifted its holdings in ACV Auctions by 83.2% in the third quarter. Park Place Capital Corp now owns 2,180 shares of the company’s stock valued at $33,000 after acquiring an additional 990 shares during the last quarter. Neo Ivy Capital Management acquired a new position in ACV Auctions in the second quarter valued at approximately $36,000. KBC Group NV acquired a new position in ACV Auctions in the fourth quarter valued at approximately $43,000. Finally, Lazard Asset Management LLC acquired a new position in ACV Auctions in the fourth quarter valued at approximately $53,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ACVA shares. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Thursday, February 22nd. Northcoast Research upgraded ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Wednesday, January 10th. Finally, JMP Securities cut their price objective on ACV Auctions from $20.00 to $19.00 and set a “market outperform” rating for the company in a research note on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.21.

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.