ACV Auctions Inc. (NASDAQ:ACVA) Given Consensus Rating of “Moderate Buy” by Analysts

ACV Auctions Inc. (NASDAQ:ACVA) has been given a consensus rating of “Moderate Buy” by the ten analysts that are covering the stock, MarketBeat Ratings reports. Three research 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 analysts that have covered the stock in the last year is $23.65.

Several equities research analysts recently commented on ACVA shares. Citigroup upped their target price on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Piper Sandler upped their target price on ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price target on shares of ACV Auctions in a research note on Monday, December 16th. Stephens initiated coverage on ACV Auctions in a research note on Wednesday, January 22nd. They set an “equal weight” rating and a $20.50 price target on the stock. Finally, B. Riley upped their price target on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th.

Insider Transactions at ACV Auctions

In related news, CFO William Zerella sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $20.57, for a total transaction of $308,550.00. Following the completion of the sale, the chief financial officer now directly owns 462,452 shares of the company’s stock, valued at approximately $9,512,637.64. This trade represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Waterman sold 30,162 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total value of $619,225.86. Following the sale, the insider now directly owns 314,738 shares of the company’s stock, valued at $6,461,571.14. The trade was a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,162 shares of company stock valued at $2,359,726 over the last ninety days. 8.50% of the stock is currently owned by insiders.

Institutional Trading of ACV Auctions

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its position in shares of ACV Auctions by 165.2% during the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after acquiring an additional 884 shares during the last quarter. MCF Advisors LLC grew its holdings in ACV Auctions by 107.0% during the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after purchasing an additional 765 shares during the period. Park Place Capital Corp grew its holdings in ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after purchasing an additional 706 shares during the period. Amalgamated Bank grew its holdings in ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after purchasing an additional 782 shares during the period. Finally, KBC Group NV grew its holdings in ACV Auctions by 80.4% during the fourth quarter. KBC Group NV now owns 7,406 shares of the company’s stock valued at $160,000 after purchasing an additional 3,300 shares during the period. 88.55% of the stock is owned by hedge funds and other institutional investors.

ACV Auctions Stock Down 1.3 %

Shares of ACV Auctions stock opened at $21.11 on Thursday. ACV Auctions has a one year low of $12.84 and a one year high of $23.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. The stock’s 50-day moving average is $21.61 and its 200 day moving average is $19.73. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -44.91 and a beta of 1.69.

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.