ACV Auctions Inc. (NASDAQ:ACVA) CFO Sells $308,550.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 15,000 shares of ACV Auctions stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.57, for a total transaction of $308,550.00. Following the completion of the transaction, the chief financial officer now directly owns 462,452 shares in the company, valued at $9,512,637.64. This represents a 3.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, December 30th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $21.65, for a total value of $703,625.00.
• On Tuesday, November 26th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $22.41, for a total value of $728,325.00.
• On Tuesday, October 15th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $18.79, for a total value of $610,675.00.

ACV Auctions Stock Performance

ACVA opened at $20.75 on Monday. The firm has a fifty day moving average price of $21.26 and a 200 day moving average price of $19.44. ACV Auctions Inc. has a 1 year low of $12.84 and a 1 year high of $23.46. The stock has a market cap of $3.48 billion, a P/E ratio of -44.15 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACVA. Barrington Research reissued an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. Raymond James began coverage on ACV Auctions in a research report on Friday, September 27th. They set a “market perform” rating and a $22.00 price target for the company. JMP Securities reiterated a “market outperform” rating and issued a $25.00 target price on shares of ACV Auctions in a research report on Monday, December 16th. B. Riley lifted their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective (up from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of ACV Auctions by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after purchasing an additional 884 shares in the last quarter. MCF Advisors LLC increased its position in shares of ACV Auctions by 107.0% in the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after buying an additional 765 shares in the last quarter. Park Place Capital Corp raised its stake in shares of ACV Auctions by 34.1% during the 3rd 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 lifted its position in shares of ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after buying an additional 782 shares in the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in ACV Auctions in the 3rd quarter worth $206,000. 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.