ACV Auctions Inc. (NASDAQ:ACVA) CEO Sells $2,316,677.60 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CEO George Chamoun sold 131,480 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $17.62, for a total transaction of $2,316,677.60. Following the completion of the sale, the chief executive officer now owns 961,245 shares of the company’s stock, valued at approximately $16,937,136.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, June 18th, George Chamoun sold 77,995 shares of ACV Auctions stock. The stock was sold at an average price of $17.71, for a total transaction of $1,381,291.45.

ACV Auctions Trading Up 0.8 %

NASDAQ:ACVA opened at $18.01 on Thursday. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $19.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a market cap of $2.97 billion, a P/E ratio of -37.52 and a beta of 1.55. The firm has a 50-day simple moving average of $17.97 and a 200-day simple moving average of $16.60.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ACV Auctions had a negative net margin of 15.28% and a negative return on equity of 13.50%. The business had revenue of $145.69 million during the quarter, compared to the consensus estimate of $144.14 million. Equities analysts anticipate that ACV Auctions Inc. will post -0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. John G Ullman & Associates Inc. grew its position in shares of ACV Auctions by 1.5% in the 4th quarter. John G Ullman & Associates Inc. now owns 66,284 shares of the company’s stock worth $1,004,000 after buying an additional 1,000 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of ACV Auctions by 4.5% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 27,248 shares of the company’s stock worth $414,000 after buying an additional 1,168 shares during the last quarter. Arizona State Retirement System grew its position 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 worth $582,000 after buying an additional 1,500 shares during the last quarter. Blair William & Co. IL grew its position 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 worth $238,000 after buying an additional 1,626 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of ACV Auctions by 8.5% in the 1st 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. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACVA. Piper Sandler lifted their price objective on shares of ACV Auctions from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a report on Monday, June 3rd. JPMorgan Chase & Co. upgraded shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price objective for the company in a report on Monday, June 10th. JMP Securities lifted their price objective on shares of ACV Auctions from $20.00 to $21.00 and gave the company a “market outperform” rating in a report on Friday, June 7th. Finally, Barrington Research reiterated an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a report 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 data from MarketBeat.com, ACV Auctions currently has an average rating of “Moderate Buy” and an average 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.