Andrew Peer Sells 1,750 Shares of ACV Auctions (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) CAO Andrew Peer sold 1,750 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $8.84, for a total value of $15,470.00. Following the transaction, the chief accounting officer owned 54,488 shares of the company’s stock, valued at approximately $481,673.92. The trade was a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, September 15th, Andrew Peer sold 1,750 shares of ACV Auctions stock. The stock was sold at an average price of $10.11, for a total value of $17,692.50.

ACV Auctions Stock Down 1.2%

NASDAQ:ACVA opened at $8.57 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market cap of $1.47 billion, a PE ratio of -17.48 and a beta of 1.64. ACV Auctions Inc. has a 52-week low of $8.33 and a 52-week high of $23.46. The stock has a 50-day simple moving average of $10.53 and a 200 day simple moving average of $13.73.

Institutional Investors Weigh In On ACV Auctions

Several hedge funds have recently added to or reduced their stakes in the business. Swedbank AB lifted its holdings in ACV Auctions by 50.0% during the 3rd quarter. Swedbank AB now owns 1,500,000 shares of the company’s stock valued at $14,865,000 after purchasing an additional 500,000 shares during the last quarter. True North Advisors LLC lifted its holdings in ACV Auctions by 33.1% during the 3rd quarter. True North Advisors LLC now owns 92,270 shares of the company’s stock valued at $914,000 after purchasing an additional 22,969 shares during the last quarter. Riverbridge Partners LLC lifted its holdings in ACV Auctions by 18.6% during the 3rd quarter. Riverbridge Partners LLC now owns 3,567,434 shares of the company’s stock valued at $35,353,000 after purchasing an additional 560,697 shares during the last quarter. Brighton Jones LLC lifted its holdings in ACV Auctions by 96.8% during the 3rd quarter. Brighton Jones LLC now owns 80,103 shares of the company’s stock valued at $794,000 after purchasing an additional 39,400 shares during the last quarter. Finally, Congress Asset Management Co. lifted its holdings in ACV Auctions by 0.8% during the 3rd quarter. Congress Asset Management Co. now owns 380,038 shares of the company’s stock valued at $3,766,000 after purchasing an additional 2,975 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Needham & Company LLC decreased their price target on ACV Auctions from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Stephens decreased their price target on ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, August 12th. The Goldman Sachs Group decreased their price target on ACV Auctions from $26.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Jefferies Financial Group decreased their price target on ACV Auctions from $22.00 to $15.00 and set a “buy” rating for the company in a research note on Friday. Finally, JMP Securities decreased their price target on ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 12th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, ACV Auctions has an average rating of “Moderate Buy” and a consensus target price of $18.36.

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.