Insider Selling: ACV Auctions (NASDAQ:ACVA) CAO Sells 1,750 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) CAO Andrew Peer sold 1,750 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $8.85, for a total transaction of $15,487.50. Following the transaction, the chief accounting officer directly owned 72,473 shares in the company, valued at $641,386.05. This trade represents a 2.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, December 15th, Andrew Peer sold 1,750 shares of ACV Auctions stock. The stock was sold at an average price of $8.03, for a total transaction of $14,052.50.

ACV Auctions Stock Performance

Shares of ACVA stock traded down $0.21 on Friday, hitting $8.77. The company had a trading volume of 1,528,218 shares, compared to its average volume of 2,353,538. The firm has a market cap of $1.51 billion, a P/E ratio of -17.90 and a beta of 1.63. ACV Auctions Inc. has a twelve month low of $4.95 and a twelve month high of $22.47. The company has a 50-day moving average price of $7.69 and a 200-day moving average price of $10.36. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $199.56 million for the quarter, compared to analysts’ expectations of $200.26 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%.ACV Auctions’s revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 EPS. As a group, equities research analysts predict that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ACVA shares. Barrington Research lowered shares of ACV Auctions from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 6th. Bank of America restated an “underperform” rating and issued a $6.00 price target (down previously from $16.50) on shares of ACV Auctions in a research report on Thursday, November 6th. Needham & Company LLC reduced their price target 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. The Goldman Sachs Group reduced their target price on ACV Auctions from $21.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, Jefferies Financial Group lowered shares of ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 target price on the stock. in a report on Thursday, December 11th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.75.

Institutional Trading of ACV Auctions

A number of hedge funds and other institutional investors have recently modified their holdings of ACVA. William Blair Investment Management LLC raised its position in ACV Auctions by 3.3% during the third quarter. William Blair Investment Management LLC now owns 11,471,709 shares of the company’s stock valued at $113,685,000 after buying an additional 362,003 shares during the period. Massachusetts Financial Services Co. MA grew its position in ACV Auctions by 0.6% in the 2nd 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 raised its stake in shares of 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. ArrowMark Colorado Holdings LLC boosted its holdings in ACV Auctions by 30.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company’s stock valued at $62,803,000 after purchasing an additional 1,475,932 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in ACV Auctions by 14.1% during the 3rd quarter. Alliancebernstein L.P. now owns 6,332,313 shares of the company’s stock valued at $62,753,000 after purchasing an additional 784,411 shares during the last quarter. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Company Profile

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.