Insider Buying: ACV Auctions (NYSE:ACVA) CEO Buys $122,573.60 in Stock

ACV Auctions Inc. (NYSE:ACVA) CEO George Chamoun purchased 24,272 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average price of $5.05 per share, for a total transaction of $122,573.60. Following the purchase, the chief executive officer directly owned 2,952,977 shares in the company, valued at $14,912,533.85. The trade was a 0.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

George Chamoun also recently made the following trade(s):

• On Monday, January 12th, George Chamoun purchased 14,286 shares of ACV Auctions stock. The shares were purchased at an average cost of $8.81 per share, for a total transaction of $125,859.66.
• On Monday, December 15th, George Chamoun acquired 31,172 shares of ACV Auctions stock. The stock was purchased at an average price of $7.97 per share, with a total value of $248,440.84.

ACV Auctions Price Performance

ACVA stock opened at $4.85 on Friday. The company has a market capitalization of $843.38 million, a P/E ratio of -12.75 and a beta of 1.69. ACV Auctions Inc. has a twelve month low of $4.45 and a twelve month high of $17.54. The business has a 50 day simple moving average of $7.04 and a 200-day simple moving average of $8.20. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.44.

ACV Auctions (NYSE:ACVA) last announced its earnings results on Monday, February 23rd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). ACV Auctions had a negative return on equity of 6.17% and a negative net margin of 8.71%.The business had revenue of $183.65 million for the quarter, compared to analysts’ expectations of $181.96 million. During the same quarter last year, the business posted ($0.16) earnings per share. The business’s revenue was up 15.2% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of research firms have commented on ACVA. Royal Bank Of Canada upgraded shares of ACV Auctions to an “outperform” rating in a research note on Tuesday, February 24th. Citigroup downgraded shares of ACV Auctions from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $13.00 to $7.00 in a research note on Tuesday, February 24th. The Goldman Sachs Group dropped their price target on ACV Auctions from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Wall Street Zen raised ACV Auctions from a “sell” rating to a “hold” rating in a research note on Sunday, February 1st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ACV Auctions in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.32.

Institutional Trading of ACV Auctions

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in ACV Auctions by 11.3% during the second quarter. Geode Capital Management LLC now owns 3,928,666 shares of the company’s stock worth $63,731,000 after purchasing an additional 398,106 shares in the last quarter. Riverbridge Partners LLC boosted its holdings in ACV Auctions by 18.6% in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in ACV Auctions by 42.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 483,306 shares of the company’s stock valued at $7,839,000 after purchasing an additional 144,283 shares in the last quarter. Iridian Asset Management LLC CT increased its position in ACV Auctions by 52.7% during the 3rd quarter. Iridian Asset Management LLC CT now owns 1,880,851 shares of the company’s stock worth $18,639,000 after purchasing an additional 649,358 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its position in ACV Auctions by 1,030.4% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 131,203 shares of the company’s stock worth $1,300,000 after purchasing an additional 119,596 shares during the period. Institutional investors and hedge funds own 88.55% of the company’s stock.

ACV Auctions Company Profile

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.