ACV Auctions (NASDAQ:ACVA) Research Coverage Started at Raymond James

Raymond James began coverage on shares of ACV Auctions (NASDAQ:ACVA) in a research note published on Friday morning, StockNewsAPI reports. The firm issued a market perform rating and a $22.00 target price on the stock.

Several other research analysts have also issued reports on ACVA. 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. JMP Securities raised their price target on ACV Auctions from $21.00 to $24.00 and gave the stock a market outperform rating in a research report on Tuesday, September 17th. Needham & Company LLC restated a buy rating and issued a $23.00 price target on shares of ACV Auctions in a research report on Monday, June 3rd. Finally, Barrington Research restated an outperform rating and issued a $23.00 price target on shares of ACV Auctions in a research report on Friday, August 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, ACV Auctions has an average rating of Moderate Buy and a consensus price target of $21.57.

ACV Auctions Stock Down 1.4 %

Shares of ACVA opened at $20.46 on Friday. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -42.63 and a beta of 1.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.49 and a current ratio of 1.49. The business’s fifty day moving average price is $18.55 and its two-hundred day moving average price is $18.23. ACV Auctions has a 52 week low of $12.84 and a 52 week high of $21.10.

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

Insider Buying and Selling

In related news, VP Andrew Peer sold 1,795 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total transaction of $37,695.00. Following the sale, the vice president now owns 62,956 shares of the company’s stock, valued at approximately $1,322,076. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ACV Auctions news, VP Andrew Peer sold 1,795 shares of ACV Auctions stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the sale, the vice president now owns 62,956 shares of the company’s stock, valued at approximately $1,322,076. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $15.19, for a total value of $493,675.00. Following the completion of the sale, the chief financial officer now directly owns 503,077 shares in the company, valued at approximately $7,641,739.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 741,663 shares of company stock valued at $14,179,490. 8.50% of the stock is owned by company insiders.

Institutional Trading of ACV Auctions

Several hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank raised its stake in shares of ACV Auctions by 18.0% in the 2nd 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. Blair William & Co. IL raised its stake 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 valued at $238,000 after purchasing an additional 1,626 shares during the period. ProShare Advisors LLC raised its stake 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 valued at $429,000 after purchasing an additional 1,798 shares during the period. Arizona State Retirement System increased its position in shares of ACV Auctions by 10.4% in the second quarter. Arizona State Retirement System now owns 41,303 shares of the company’s stock valued at $754,000 after acquiring an additional 3,881 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of ACV Auctions by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 77,547 shares of the company’s stock valued at $1,456,000 after acquiring an additional 4,621 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

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.