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

ACV Auctions Inc. (NASDAQ:ACVA) insider Craig Eric Anderson sold 7,500 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $150,000.00. Following the sale, the insider now directly owns 328,167 shares of the company’s stock, valued at $6,563,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, July 2nd, Craig Eric Anderson sold 7,500 shares of ACV Auctions stock. The shares were sold at an average price of $17.81, for a total transaction of $133,575.00.

ACV Auctions Trading Up 2.0 %

ACV Auctions stock opened at $20.35 on Wednesday. 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 Inc. has a 12 month low of $12.84 and a 12 month high of $20.79. The company’s fifty day simple moving average is $18.13 and its 200-day simple moving average is $18.08. The stock has a market cap of $3.36 billion, a P/E ratio of -42.40 and a beta of 1.55.

ACV Auctions (NASDAQ:ACVA) last issued its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. The company had revenue of $160.62 million for the quarter, compared to analyst estimates of $156.33 million. As a group, sell-side analysts forecast that ACV Auctions Inc. will post -0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On ACV Auctions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACVA. Dimensional Fund Advisors LP increased its stake in shares of ACV Auctions by 21.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,846,726 shares of the company’s stock worth $27,979,000 after purchasing an additional 329,854 shares during the last quarter. Comerica Bank increased its position in ACV Auctions by 5,045.7% during the first quarter. Comerica Bank now owns 63,550 shares of the company’s stock worth $1,193,000 after buying an additional 62,315 shares during the last quarter. Jennison Associates LLC raised its holdings in ACV Auctions by 11.0% during the first quarter. Jennison Associates LLC now owns 3,954,432 shares of the company’s stock valued at $74,225,000 after buying an additional 393,423 shares in the last quarter. Congress Asset Management Co. MA lifted its position in shares of ACV Auctions by 21.8% in the first quarter. Congress Asset Management Co. MA now owns 482,881 shares of the company’s stock worth $9,064,000 after buying an additional 86,525 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of ACV Auctions by 4.1% during the 2nd quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock worth $91,499,000 after acquiring an additional 198,228 shares in the last quarter. Institutional investors own 88.55% of the company’s stock.

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.