William Zerella Sells 32,500 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total value of $728,325.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares in the company, valued at approximately $10,991,701.62. This represents a 6.21 % decrease 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.

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

• 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 value of $610,675.00.
• On Tuesday, September 17th, William Zerella sold 76,856 shares of ACV Auctions stock. The shares were sold at an average price of $20.26, for a total transaction of $1,557,102.56.

ACV Auctions Stock Performance

Shares of ACVA stock opened at $22.71 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. ACV Auctions Inc. has a 1-year low of $12.84 and a 1-year high of $23.46. The stock’s fifty day simple moving average is $19.65 and its 200-day simple moving average is $18.66. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of -48.32 and a beta of 1.59.

Wall Street Analyst Weigh In

ACVA has been the subject of several research reports. Barrington Research reaffirmed an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research note on Monday, November 4th. Jefferies Financial Group raised their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Piper Sandler boosted their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Raymond James initiated coverage on shares of ACV Auctions in a report on Friday, September 27th. They set a “market perform” rating and a $22.00 target price for the company. Finally, JMP Securities upped their price target on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Tuesday, September 17th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Institutional Trading of ACV Auctions

Several institutional investors have recently made changes to their positions in ACVA. Massachusetts Financial Services Co. MA grew its stake in ACV Auctions by 11.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company’s stock valued at $175,969,000 after purchasing an additional 897,477 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of 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 buying an additional 198,228 shares during the period. Jennison Associates LLC grew its stake in ACV Auctions by 6.8% in the 3rd quarter. Jennison Associates LLC now owns 4,247,932 shares of the company’s stock valued at $86,360,000 after buying an additional 271,970 shares during the last quarter. Geode Capital Management LLC raised its holdings in ACV Auctions by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,517,088 shares of the company’s stock worth $71,516,000 after acquiring an additional 67,969 shares during the period. Finally, State Street Corp raised its holdings in ACV Auctions by 3.7% in the 3rd quarter. State Street Corp now owns 3,242,388 shares of the company’s stock worth $65,918,000 after acquiring an additional 115,700 shares during the period. 88.55% of the stock is currently owned by institutional investors and hedge funds.

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.