ACV Auctions (NASDAQ:ACVA) CAO Andrew Peer Sells 1,750 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) CAO Andrew Peer sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $8.85, for a total transaction of $15,487.50. Following the sale, the chief accounting officer owned 72,473 shares of the company’s stock, valued at approximately $641,386.05. The trade was a 2.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Andrew Peer also recently made the following trade(s):

• On Monday, December 15th, Andrew Peer sold 1,750 shares of ACV Auctions stock. The shares were sold at an average price of $8.03, for a total value of $14,052.50.

ACV Auctions Price Performance

Shares of NASDAQ ACVA opened at $8.77 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $7.76 and a two-hundred day simple moving average of $10.31. ACV Auctions Inc. has a 1-year low of $4.95 and a 1-year high of $22.47. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -17.90 and a beta of 1.63.

ACV Auctions (NASDAQ:ACVA) last issued its earnings results on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $199.56 million for the quarter, compared to analyst estimates of $200.26 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%.The business’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 earnings per share. Analysts anticipate that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

Institutional Trading of ACV Auctions

A number of large investors have recently modified their holdings of ACVA. Geode Capital Management LLC grew its stake in shares of ACV Auctions by 11.3% in the second quarter. Geode Capital Management LLC now owns 3,928,666 shares of the company’s stock worth $63,731,000 after acquiring an additional 398,106 shares during the last quarter. Inflection Point Investments LLP raised its holdings in ACV Auctions by 32.5% in the second quarter. Inflection Point Investments LLP now owns 403,796 shares of the company’s stock worth $6,550,000 after buying an additional 99,146 shares during the last quarter. Riverbridge Partners LLC lifted its stake in shares of ACV Auctions by 18.6% in the third quarter. Riverbridge Partners LLC now owns 3,567,434 shares of the company’s stock worth $35,353,000 after buying an additional 560,697 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of ACV Auctions by 42.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 483,306 shares of the company’s stock valued at $7,839,000 after buying an additional 144,283 shares during the last quarter. Finally, Cambiar Investors LLC purchased a new stake in shares of ACV Auctions during the second quarter valued at approximately $10,146,000. Institutional investors own 88.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Barclays upped their price target on shares of ACV Auctions to $7.00 and gave the company an “equal weight” rating in a research note on Thursday, December 4th. Bank of America restated an “underperform” rating and set a $6.00 target price (down previously from $16.50) on shares of ACV Auctions in a research report on Thursday, November 6th. Citigroup reduced their price target on ACV Auctions from $17.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, November 21st. The Goldman Sachs Group dropped their price objective on ACV Auctions from $21.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, Needham & Company LLC cut their target price on ACV Auctions from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ACV Auctions currently has an average rating of “Hold” and a consensus target price of $11.75.

ACV Auctions Company Profile

ACV Auctions operates a digital marketplace that connects automotive dealers through a mobile-first platform for wholesale vehicle auctions. The company’s software enables dealers to list, inspect and bid on used vehicles in real time, leveraging smartphone-based condition reporting, high-resolution imagery and data analytics to streamline the buying and selling process. ACV Auctions also offers subscription-based access to its auction platform, supplemental reconditioning services and financing tools designed to help dealers optimize inventory turn and reduce risk.

Since its founding in 2014, ACV Auctions has expanded its technology offerings beyond core auction services to include dealer management integrations, transportation logistics coordination and title management solutions.