ACV Auctions Inc. (NASDAQ:ACVA) COO Sells $2,961,477.56 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) COO Vikas Mehta sold 154,324 shares of ACV Auctions stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $19.19, for a total transaction of $2,961,477.56. Following the completion of the sale, the chief operating officer now directly owns 432,457 shares in the company, valued at approximately $8,298,849.83. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Vikas Mehta also recently made the following trade(s):

• On Monday, August 26th, Vikas Mehta sold 8,395 shares of ACV Auctions stock. The shares were sold at an average price of $19.21, for a total transaction of $161,267.95.
• On Friday, August 23rd, Vikas Mehta sold 145,928 shares of ACV Auctions stock. The stock was sold at an average price of $18.71, for a total transaction of $2,730,312.88.

ACV Auctions Stock Down 0.4 %

Shares of NASDAQ:ACVA opened at $19.87 on Friday. ACV Auctions Inc. has a 52-week low of $12.84 and a 52-week high of $20.79. The stock has a market cap of $3.31 billion, a P/E ratio of -41.40 and a beta of 1.55. The business has a fifty day moving average of $18.03 and a two-hundred day moving average of $18.04. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.24.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. The firm had revenue of $160.62 million during the quarter, compared to analyst estimates of $156.33 million. On average, research analysts expect that ACV Auctions Inc. will post -0.36 earnings per share for the current year.

Institutional Trading of ACV Auctions

A number of hedge funds and other institutional investors have recently made changes to their positions in ACVA. Massachusetts Financial Services Co. MA lifted its holdings in ACV Auctions by 47.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,758,163 shares of the company’s stock valued at $141,586,000 after acquiring an additional 2,502,064 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of ACV Auctions by 4.1% in the 2nd quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock valued at $91,499,000 after purchasing an additional 198,228 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of ACV Auctions by 11.0% during the 1st quarter. Jennison Associates LLC now owns 3,954,432 shares of the company’s stock worth $74,225,000 after purchasing an additional 393,423 shares during the period. Dimensional Fund Advisors LP increased its position in shares of ACV Auctions by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,103,770 shares of the company’s stock worth $38,394,000 after purchasing an additional 163,380 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its holdings in ACV Auctions by 45.6% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,765,822 shares of the company’s stock valued at $33,144,000 after buying an additional 552,719 shares during the period. Institutional investors and hedge funds own 88.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on ACVA shares. JPMorgan Chase & Co. upgraded ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price objective for the company in a research note on Monday, June 10th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of ACV Auctions in a research note on Monday, June 3rd. Barrington Research restated an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a report on Friday, August 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of ACV Auctions in a report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

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.