ACV Auctions Inc. (NASDAQ:ACVA) Given Consensus Rating of “Moderate Buy” by Analysts

ACV Auctions Inc. (NASDAQ:ACVA) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $22.63.

ACVA has been the subject of several analyst reports. Jefferies Financial Group upped their price objective on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Piper Sandler upped their price objective on ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC boosted their target price on ACV Auctions from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 8th. JMP Securities boosted their target price on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Tuesday, September 17th. Finally, Raymond James initiated coverage on ACV Auctions in a report on Friday, September 27th. They issued a “market perform” rating and a $22.00 target price for the company.

ACV Auctions Stock Down 1.6 %

NASDAQ:ACVA opened at $20.37 on Friday. The stock has a 50-day simple moving average of $19.16 and a 200-day simple moving average of $18.36. ACV Auctions has a 1 year low of $12.84 and a 1 year high of $21.31. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, COO Vikas Mehta sold 154,324 shares of the company’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 completion of the sale, the chief operating officer now directly owns 432,457 shares of the company’s stock, valued at $8,298,849.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Vikas Mehta sold 154,324 shares of the 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 completion of the transaction, the chief operating officer now directly owns 432,457 shares of the company’s stock, 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 hyperlink. Also, Director Brian Hirsch sold 61,666 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $18.63, for a total value of $1,148,837.58. Following the transaction, the director now directly owns 9,239 shares of the company’s stock, valued at approximately $172,122.57. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 709,426 shares of company stock valued at $13,792,090 in the last ninety days. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On ACV Auctions

A number of large investors have recently modified their holdings of ACVA. Quantbot Technologies LP acquired a new stake in shares of ACV Auctions in the 1st quarter worth approximately $519,000. Oppenheimer Asset Management Inc. grew its holdings in shares of ACV Auctions by 6.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 111,890 shares of the company’s stock worth $2,100,000 after acquiring an additional 6,325 shares during the period. ProShare Advisors LLC grew its holdings in shares of ACV Auctions by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock worth $429,000 after acquiring an additional 1,798 shares during the period. Blair William & Co. IL grew its holdings in shares of ACV Auctions by 14.7% in the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock worth $238,000 after acquiring an additional 1,626 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of ACV Auctions by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 77,547 shares of the company’s stock worth $1,456,000 after acquiring an additional 4,621 shares during the period. 88.55% of the stock is owned by hedge funds and other institutional investors.

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.