Jefferies Financial Group Raises ACV Auctions (NASDAQ:ACVA) Price Target to $25.00

ACV Auctions (NASDAQ:ACVA) had its price target increased by Jefferies Financial Group from $22.00 to $25.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Barrington Research reaffirmed an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a research report on Friday, August 16th. Raymond James initiated coverage on shares of ACV Auctions in a research note on Friday, September 27th. They set a “market perform” rating and a $22.00 target price on the stock. Finally, JMP Securities lifted their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

ACV Auctions Trading Down 0.9 %

NASDAQ ACVA opened at $17.75 on Tuesday. 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 firm has a market cap of $2.93 billion, a price-to-earnings ratio of -36.98 and a beta of 1.56. The firm has a 50 day simple moving average of $19.21 and a 200-day simple moving average of $18.29. ACV Auctions has a one year low of $12.84 and a one year high of $21.10.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. The company had revenue of $160.62 million during the quarter, compared to analysts’ expectations of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. Equities research analysts anticipate that ACV Auctions will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Vikas Mehta sold 154,324 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $19.19, for a total value of $2,961,477.56. Following the completion of the transaction, the chief operating officer now owns 432,457 shares in the company, valued at approximately $8,298,849.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other ACV Auctions news, VP Andrew Peer sold 1,795 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the sale, the vice president now owns 62,956 shares in the company, valued at approximately $1,322,076. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Vikas Mehta sold 154,324 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $19.19, for a total transaction of $2,961,477.56. Following the transaction, the chief operating officer now owns 432,457 shares in the company, valued at approximately $8,298,849.83. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 741,926 shares of company stock valued at $14,285,765. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of ACV Auctions

Institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank grew its stake in shares of ACV Auctions by 5,045.7% in the 1st quarter. Comerica Bank now owns 63,550 shares of the company’s stock valued at $1,193,000 after purchasing an additional 62,315 shares during the last quarter. Jennison Associates LLC grew its position in ACV Auctions by 11.0% in the 1st 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 during the last quarter. William Blair Investment Management LLC increased its stake in 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 buying an additional 198,228 shares during the period. TimesSquare Capital Management LLC raised its position in ACV Auctions by 45.6% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,765,822 shares of the company’s stock worth $33,144,000 after buying an additional 552,719 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of ACV Auctions in the 1st quarter worth $15,016,000. Hedge funds and other 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.