ACV Auctions Inc. (NASDAQ:ACVA) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of ACV Auctions Inc. (NASDAQ:ACVA) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $23.35.

A number of analysts have commented on ACVA shares. B. Riley boosted their price target on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC dropped their price target on shares of ACV Auctions from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday. Barrington Research restated an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research report on Monday, November 4th. JMP Securities restated a “market outperform” rating and set a $25.00 price target on shares of ACV Auctions in a research report on Monday, December 16th. Finally, Stephens upgraded shares of ACV Auctions to a “hold” rating in a research report on Saturday, February 1st.

Insider Transactions at ACV Auctions

In other ACV Auctions news, insider Michael Waterman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total transaction of $304,050.00. Following the transaction, the insider now directly owns 311,354 shares in the company, valued at approximately $6,311,145.58. This represents a 4.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO William Zerella sold 32,500 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $21.65, for a total transaction of $703,625.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares in the company, valued at $10,618,935.30. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,162 shares of company stock valued at $2,663,776. 8.50% of the stock is owned by insiders.

Institutional Trading of ACV Auctions

Large investors have recently bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of ACV Auctions by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after acquiring an additional 884 shares in the last quarter. MCF Advisors LLC grew its stake in shares of ACV Auctions by 107.0% during the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after acquiring an additional 765 shares in the last quarter. KBC Group NV grew its stake in shares of ACV Auctions by 80.4% during the 4th quarter. KBC Group NV now owns 7,406 shares of the company’s stock worth $160,000 after acquiring an additional 3,300 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of ACV Auctions during the 4th quarter worth approximately $206,000. Finally, Verdence Capital Advisors LLC bought a new position in shares of ACV Auctions during the 3rd quarter worth approximately $206,000. 88.55% of the stock is owned by institutional investors.

ACV Auctions Trading Down 5.2 %

NASDAQ ACVA opened at $17.63 on Monday. ACV Auctions has a one year low of $14.76 and a one year high of $23.46. The company has a 50-day simple moving average of $21.17 and a 200-day simple moving average of $20.13. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market capitalization of $2.96 billion, a PE ratio of -35.98 and a beta of 1.69.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The firm had revenue of $159.51 million for the quarter, compared to the consensus estimate of $156.77 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.81%. On average, equities analysts forecast that ACV Auctions will post -0.07 earnings per share for the current year.

About ACV Auctions

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.