William Zerella Sells 32,500 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total value of $610,675.00. Following the completion of the sale, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at approximately $9,216,156.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, September 17th, William Zerella sold 76,856 shares of ACV Auctions stock. The shares were sold at an average price of $20.26, for a total transaction of $1,557,102.56.
• On Tuesday, August 6th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $15.19, for a total transaction of $493,675.00.

ACV Auctions Price Performance

ACVA stock opened at $19.05 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.49 and a current ratio of 1.49. The stock’s 50 day moving average price is $19.20 and its 200 day moving average price is $18.29. The firm has a market cap of $3.14 billion, a P/E ratio of -39.69 and a beta of 1.56. ACV Auctions Inc. has a 1 year low of $12.84 and a 1 year high of $21.10.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The business had revenue of $160.62 million for the quarter, compared to analyst estimates of $156.33 million. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. On average, sell-side analysts expect that ACV Auctions Inc. will post -0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ACVA. Barrington Research reiterated an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research report on Friday, August 16th. JMP Securities lifted 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, September 17th. Finally, Raymond James assumed coverage on ACV Auctions in a report on Friday, September 27th. They issued a “market perform” rating and a $22.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, ACV Auctions has an average rating of “Moderate Buy” and a consensus price target of $21.57.

Institutional Investors Weigh In On ACV Auctions

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its position in ACV Auctions by 165.2% during the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after acquiring an additional 884 shares during the last quarter. Park Place Capital Corp lifted its position in ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after buying an additional 706 shares during the period. Amalgamated Bank boosted its stake in ACV Auctions by 18.0% in the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after buying an additional 782 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of ACV Auctions in the second quarter worth approximately $225,000. Finally, Blair William & Co. IL grew its stake in shares of ACV Auctions by 14.7% during the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after buying an additional 1,626 shares during the period. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

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.