ACV Auctions Inc. (NASDAQ:ACVA) CFO Sells $1,557,102.56 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 76,856 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $20.26, for a total transaction of $1,557,102.56. Following the completion of the sale, the chief financial officer now owns 503,077 shares in the company, valued at $10,192,340.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Tuesday, August 6th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $15.19, for a total transaction of $493,675.00.
• On Tuesday, July 9th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $17.51, for a total transaction of $569,075.00.

ACV Auctions Trading Down 0.5 %

ACVA traded down $0.10 on Wednesday, reaching $20.25. 1,449,788 shares of the company’s stock were exchanged, compared to its average volume of 1,228,737. The company has a market cap of $3.34 billion, a price-to-earnings ratio of -42.27 and a beta of 1.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.49 and a current ratio of 1.49. ACV Auctions Inc. has a twelve month low of $12.84 and a twelve month high of $20.82. The company’s 50 day moving average is $18.13 and its 200-day moving average is $18.08.

ACV Auctions (NASDAQ:ACVA) last posted its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $160.62 million for the quarter, compared to analyst estimates of $156.33 million. Equities analysts predict that ACV Auctions Inc. will post -0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Monday, June 3rd. JPMorgan Chase & Co. raised shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price objective on the stock in a research note on Monday, June 10th. JMP Securities raised their price objective on ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Tuesday. Finally, Barrington Research reiterated an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Hedge Funds Weigh In On ACV Auctions

A number of institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC acquired a new position in ACV Auctions during the 2nd quarter worth $271,000. Driehaus Capital Management LLC grew its stake in ACV Auctions by 48.0% in the second quarter. Driehaus Capital Management LLC now owns 1,232,238 shares of the company’s stock worth $22,488,000 after purchasing an additional 399,402 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in ACV Auctions by 16.0% in the second quarter. The Manufacturers Life Insurance Company now owns 82,542 shares of the company’s stock valued at $1,506,000 after buying an additional 11,380 shares during the last quarter. Engle Capital Management L.P. raised its stake in ACV Auctions by 11.6% during the second quarter. Engle Capital Management L.P. now owns 1,563,000 shares of the company’s stock valued at $28,525,000 after buying an additional 163,000 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in ACV Auctions by 13.0% during the 2nd quarter. Sei Investments Co. now owns 357,437 shares of the company’s stock worth $6,523,000 after buying an additional 41,090 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

About ACV Auctions

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.