ACV Auctions Inc. (NASDAQ:ACVA) CEO George Chamoun Sells 131,480 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) CEO George Chamoun sold 131,480 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $17.62, for a total value of $2,316,677.60. Following the completion of the sale, the chief executive officer now owns 961,245 shares of the company’s stock, valued at $16,937,136.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

George Chamoun also recently made the following trade(s):

• On Tuesday, June 18th, George Chamoun sold 77,995 shares of ACV Auctions stock. The stock was sold at an average price of $17.71, for a total value of $1,381,291.45.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $18.18 on Tuesday. The firm has a market cap of $3.00 billion, a P/E ratio of -37.88 and a beta of 1.55. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.27. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $19.62. The stock’s fifty day moving average price is $17.96 and its 200-day moving average price is $16.57.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $145.69 million for the quarter, compared to analysts’ expectations of $144.14 million. ACV Auctions had a negative net margin of 15.28% and a negative return on equity of 13.50%. On average, equities research analysts expect that ACV Auctions Inc. will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACV Auctions

Several institutional investors have recently made changes to their positions in ACVA. Parkside Financial Bank & Trust purchased a new position in ACV Auctions in the third quarter valued at about $66,000. UMB Bank n.a. purchased a new position in ACV Auctions in the first quarter valued at about $114,000. Penn Mutual Asset Management LLC purchased a new position in ACV Auctions in the fourth quarter valued at about $153,000. Blair William & Co. IL grew its stake in ACV Auctions by 14.7% in the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Ieq Capital LLC purchased a new position in ACV Auctions in the fourth quarter valued at about $249,000. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of ACV Auctions in a research report on Monday, June 3rd. JPMorgan Chase & Co. upgraded ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price target for the company in a research report on Monday, June 10th. Piper Sandler raised their price target on ACV Auctions from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Barrington Research reiterated an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research report on Monday, May 13th. Finally, JMP Securities lifted their target price on ACV Auctions from $20.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Friday, June 7th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

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.