ACV Auctions Inc. (NASDAQ:ACVA) CEO Sells $1,381,291.45 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CEO George Chamoun sold 77,995 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $17.71, for a total value of $1,381,291.45. Following the sale, the chief executive officer now owns 961,245 shares of the company’s stock, valued at $17,023,648.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, June 20th, George Chamoun sold 131,480 shares of ACV Auctions stock. The stock was sold at an average price of $17.62, for a total value of $2,316,677.60.

ACV Auctions Stock Up 0.8 %

Shares of NASDAQ:ACVA opened at $18.01 on Thursday. The stock has a fifty day simple moving average of $17.97 and a two-hundred day simple moving average of $16.60. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -37.52 and a beta of 1.55. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month high of $19.62. 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 (NASDAQ:ACVA) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company 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, research analysts anticipate that ACV Auctions Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ACVA. Parkside Financial Bank & Trust purchased a new position in ACV Auctions during the third quarter valued at $66,000. UMB Bank n.a. purchased a new position in shares of ACV Auctions in the first quarter worth $114,000. Penn Mutual Asset Management LLC purchased a new position in shares of ACV Auctions in the fourth quarter worth $153,000. Blair William & Co. IL raised its stake in shares of ACV Auctions by 14.7% in the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock worth $238,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Ieq Capital LLC purchased a new position in shares of ACV Auctions in the fourth quarter worth $249,000. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.