Insider Selling: ACV Auctions Inc. (NASDAQ:ACVA) Insider Sells 7,500 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Craig Eric Anderson sold 7,500 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $17.81, for a total transaction of $133,575.00. Following the completion of the sale, the insider now directly owns 328,167 shares of the company’s stock, valued at approximately $5,844,654.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Craig Eric Anderson also recently made the following trade(s):

• On Tuesday, April 9th, Craig Eric Anderson sold 7,500 shares of ACV Auctions stock. The shares were sold at an average price of $18.50, for a total transaction of $138,750.00.

ACV Auctions Trading Down 1.1 %

NASDAQ ACVA traded down $0.19 on Wednesday, hitting $17.78. 360,017 shares of the stock were exchanged, compared to its average volume of 1,147,060. The company’s 50-day moving average price is $18.00 and its two-hundred day moving average price is $16.72. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.27. ACV Auctions Inc. has a 52-week low of $12.84 and a 52-week high of $19.62.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $145.69 million for the quarter, compared to analysts’ expectations of $144.14 million. ACV Auctions had a negative net margin of 15.28% and a negative return on equity of 13.50%. On average, equities research analysts anticipate that ACV Auctions Inc. will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

ACVA has been the subject of a number of research reports. JMP Securities increased their price target on ACV Auctions from $20.00 to $21.00 and gave the company a “market outperform” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. raised ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 target price for the company in a research note on Monday, June 10th. Piper Sandler lifted their target price on ACV Auctions from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of ACV Auctions in a report on Monday, June 3rd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.67.

Hedge Funds Weigh In On ACV Auctions

Large investors have recently made changes to their positions in the business. John G Ullman & Associates Inc. boosted its position in ACV Auctions by 1.5% during the fourth quarter. John G Ullman & Associates Inc. now owns 66,284 shares of the company’s stock valued at $1,004,000 after purchasing an additional 1,000 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of ACV Auctions by 4.5% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 27,248 shares of the company’s stock valued at $414,000 after buying an additional 1,168 shares during the last quarter. Arizona State Retirement System grew its stake in shares of ACV Auctions by 4.1% in the 4th quarter. Arizona State Retirement System now owns 38,400 shares of the company’s stock valued at $582,000 after buying an additional 1,500 shares in the last quarter. Blair William & Co. IL grew its stake in shares of ACV Auctions by 14.7% in the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after buying an additional 1,626 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in ACV Auctions by 8.5% in the first quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock worth $429,000 after buying an additional 1,798 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

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.