ACV Auctions Inc. (NASDAQ:ACVA) Insider Craig Eric Anderson Sells 7,500 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Craig Eric Anderson sold 7,500 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $17.81, for a total value of $133,575.00. Following the completion of the transaction, the insider now owns 328,167 shares in the company, valued at approximately $5,844,654.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, April 9th, Craig Eric Anderson sold 7,500 shares of ACV Auctions stock. The shares were sold at an average price of $18.50, for a total transaction of $138,750.00.

ACV Auctions Stock Performance

NASDAQ ACVA opened at $17.78 on Thursday. The stock has a 50-day simple moving average of $18.00 and a 200 day simple moving average of $16.73. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.62. ACV Auctions Inc. has a twelve month low of $12.84 and a twelve month high of $19.62.

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

Hedge Funds Weigh In On ACV Auctions

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of ACV Auctions by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company’s stock worth $194,445,000 after purchasing an additional 1,010,941 shares during the period. Dimensional Fund Advisors LP grew its position in ACV Auctions by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,846,726 shares of the company’s stock worth $27,979,000 after buying an additional 329,854 shares in the last quarter. Jennison Associates LLC increased its stake in ACV Auctions by 9.7% during the fourth quarter. Jennison Associates LLC now owns 3,561,009 shares of the company’s stock valued at $53,949,000 after acquiring an additional 313,856 shares during the period. Congress Asset Management Co. MA raised its holdings in ACV Auctions by 21.8% in the 1st quarter. Congress Asset Management Co. MA now owns 482,881 shares of the company’s stock valued at $9,064,000 after acquiring an additional 86,525 shares in the last quarter. Finally, Deepwater Asset Management LLC lifted its position in shares of ACV Auctions by 20.1% in the 4th quarter. Deepwater Asset Management LLC now owns 851,819 shares of the company’s stock worth $12,905,000 after acquiring an additional 142,296 shares during the period. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACVA has been the topic of a number of recent research reports. Piper Sandler raised their price target on shares of ACV Auctions from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of ACV Auctions in a 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 note on Monday, June 10th. Barrington Research reissued an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a research note on Monday, May 13th. Finally, JMP Securities boosted their target price on ACV Auctions from $20.00 to $21.00 and gave the stock a “market outperform” rating in a report on Friday, June 7th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, ACV Auctions has an average rating of “Moderate Buy” and a consensus target price 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.