ACV Auctions (NASDAQ:ACVA) CAO Sells $14,052.50 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CAO Andrew Peer sold 1,750 shares of ACV Auctions stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $8.03, for a total value of $14,052.50. Following the completion of the transaction, the chief accounting officer directly owned 55,554 shares of the company’s stock, valued at $446,098.62. This represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Andrew Peer also recently made the following trade(s):

• On Wednesday, October 15th, Andrew Peer sold 1,750 shares of ACV Auctions stock. The stock was sold at an average price of $8.84, for a total transaction of $15,470.00.

ACV Auctions Trading Down 1.7%

ACVA opened at $7.80 on Friday. ACV Auctions Inc. has a 1-year low of $4.95 and a 1-year high of $22.47. The stock has a market capitalization of $1.34 billion, a PE ratio of -15.91 and a beta of 1.64. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $7.84 and a two-hundred day moving average price of $11.37.

ACV Auctions (NASDAQ:ACVA) last announced its earnings results on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $199.56 million for the quarter, compared to analyst estimates of $200.26 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. ACV Auctions’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. As a group, equities analysts anticipate that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ACV Auctions

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in ACV Auctions by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 15,301,225 shares of the company’s stock valued at $215,594,000 after acquiring an additional 1,055,310 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of ACV Auctions by 3.3% in the third quarter. William Blair Investment Management LLC now owns 11,471,709 shares of the company’s stock worth $113,685,000 after purchasing an additional 362,003 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in ACV Auctions by 0.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,143,400 shares of the company’s stock worth $148,306,000 after purchasing an additional 58,570 shares during the last quarter. Wasatch Advisors LP grew its position in ACV Auctions by 301.0% in the second quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock valued at $118,331,000 after purchasing an additional 5,475,874 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its stake in ACV Auctions by 30.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company’s stock valued at $62,803,000 after buying an additional 1,475,932 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays boosted their target price on ACV Auctions to $7.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 4th. JPMorgan Chase & Co. dropped their price objective on ACV Auctions from $18.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Citigroup reduced their target price on shares of ACV Auctions from $17.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Jefferies Financial Group downgraded shares of ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 price target for the company. in a research note on Thursday, December 11th. Finally, Needham & Company LLC cut their price objective on shares of ACV Auctions from $14.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, ACV Auctions has an average rating of “Hold” and a consensus target price of $11.75.

About ACV Auctions

ACV Auctions operates a digital marketplace that connects automotive dealers through a mobile-first platform for wholesale vehicle auctions. The company’s software enables dealers to list, inspect and bid on used vehicles in real time, leveraging smartphone-based condition reporting, high-resolution imagery and data analytics to streamline the buying and selling process. ACV Auctions also offers subscription-based access to its auction platform, supplemental reconditioning services and financing tools designed to help dealers optimize inventory turn and reduce risk.

Since its founding in 2014, ACV Auctions has expanded its technology offerings beyond core auction services to include dealer management integrations, transportation logistics coordination and title management solutions.