ACV Auctions Inc. (NASDAQ:ACVA) Insider Sells $150,000.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Craig Eric Anderson sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $150,000.00. Following the completion of the transaction, the insider now directly owns 328,167 shares of the company’s stock, valued at $6,563,340. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Craig Eric Anderson also recently made the following trade(s):

• On Tuesday, July 2nd, Craig Eric Anderson sold 7,500 shares of ACV Auctions stock. The shares were sold at an average price of $17.81, for a total transaction of $133,575.00.

ACV Auctions Price Performance

Shares of ACV Auctions stock traded up $0.08 on Monday, reaching $19.95. The company’s stock had a trading volume of 1,048,248 shares, compared to its average volume of 1,226,437. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.29 billion, a P/E ratio of -41.67 and a beta of 1.55. The stock has a 50-day moving average price of $18.03 and a 200-day moving average price of $18.05. ACV Auctions Inc. has a 52-week low of $12.84 and a 52-week high of $20.79.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. The company had revenue of $160.62 million during the quarter, compared to analysts’ expectations of $156.33 million. Analysts expect that ACV Auctions Inc. will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ACVA. Algert Global LLC acquired a new position in shares of ACV Auctions during the second quarter valued at approximately $271,000. Driehaus Capital Management LLC increased its position in shares of ACV Auctions by 48.0% during the second quarter. Driehaus Capital Management LLC now owns 1,232,238 shares of the company’s stock worth $22,488,000 after purchasing an additional 399,402 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in ACV Auctions by 16.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 82,542 shares of the company’s stock valued at $1,506,000 after purchasing an additional 11,380 shares during the last quarter. Engle Capital Management L.P. lifted its holdings in ACV Auctions by 11.6% in the 2nd quarter. Engle Capital Management L.P. now owns 1,563,000 shares of the company’s stock valued at $28,525,000 after purchasing an additional 163,000 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in ACV Auctions by 13.0% during the 2nd quarter. Sei Investments Co. now owns 357,437 shares of the company’s stock worth $6,523,000 after purchasing an additional 41,090 shares during the last quarter. 88.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on ACVA shares. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of ACV Auctions in a research report on Monday, June 3rd. JPMorgan Chase & Co. upgraded ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price target for the company in a research report on Monday, June 10th. Barrington Research restated an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a research report on Friday, August 16th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of ACV Auctions in a research note on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.00.

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.