ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella Sells 15,000 Shares

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.57, for a total value of $308,550.00. Following the completion of the sale, the chief financial officer now directly owns 462,452 shares in the company, valued at approximately $9,512,637.64. The trade was a 3.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, December 30th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were 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 stock was 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 transaction of $610,675.00.

ACV Auctions Stock Down 1.8 %

ACVA opened at $20.75 on Friday. ACV Auctions Inc. has a 1 year low of $12.84 and a 1 year high of $23.46. The firm has a 50 day moving average price of $21.26 and a 200 day moving average price of $19.42. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. The company has a market cap of $3.48 billion, a PE ratio of -44.15 and a beta of 1.69.

Institutional Investors Weigh In On ACV Auctions

Several large investors have recently made changes to their positions in ACVA. Principal Financial Group Inc. increased its holdings in ACV Auctions by 33.1% in the 2nd quarter. Principal Financial Group Inc. now owns 61,903 shares of the company’s stock valued at $1,130,000 after purchasing an additional 15,390 shares in the last quarter. Rhumbline Advisers grew its stake in shares of ACV Auctions by 17.0% in the second quarter. Rhumbline Advisers now owns 209,976 shares of the company’s stock valued at $3,832,000 after buying an additional 30,450 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of ACV Auctions by 10.4% during the 2nd quarter. Arizona State Retirement System now owns 41,303 shares of the company’s stock valued at $754,000 after buying an additional 3,881 shares during the period. William Blair Investment Management LLC lifted its position in 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. Finally, Oppenheimer Asset Management Inc. boosted its holdings in ACV Auctions by 24.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 138,981 shares of the company’s stock worth $2,536,000 after acquiring an additional 27,091 shares during the period. Institutional investors and hedge funds own 88.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of ACV Auctions in a research report on Monday, December 16th. Piper Sandler increased their target price 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 restated a “buy” rating and issued a $28.00 price target (up previously from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. Finally, Citigroup increased their price objective on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ACV Auctions presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

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.