ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) CFO William Zerella sold 32,500 shares of the business's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $21.65, for a total value of $703,625.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares in the company, valued at approximately $10,618,935.30. This represents a 6.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
William Zerella also recently made the following trade(s):
- On Tuesday, November 26th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $22.41, for a total value of $728,325.00.
- On Tuesday, October 15th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $18.79, for a total transaction of $610,675.00.
ACV Auctions Price Performance
ACVA traded down $0.30 during trading on Tuesday, reaching $21.60. 1,259,211 shares of the company were exchanged, compared to its average volume of 1,264,890. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month high of $23.46. The company's 50-day moving average is $20.66 and its two-hundred day moving average is $19.23. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The company has a market cap of $3.62 billion, a price-to-earnings ratio of -45.96 and a beta of 1.70.
Institutional Investors Weigh In On ACV Auctions
Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in ACV Auctions by 217.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,391,070 shares of the company's stock worth $25,387,000 after acquiring an additional 952,929 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ACV Auctions by 21.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,478 shares of the company's stock worth $483,000 after buying an additional 4,752 shares in the last quarter. Principal Financial Group Inc. boosted its stake in ACV Auctions by 33.1% during the second quarter. Principal Financial Group Inc. now owns 61,903 shares of the company's stock valued at $1,130,000 after buying an additional 15,390 shares during the period. Rhumbline Advisers grew its position in ACV Auctions by 17.0% during the second quarter. Rhumbline Advisers now owns 209,976 shares of the company's stock worth $3,832,000 after buying an additional 30,450 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in ACV Auctions by 10.4% in the 2nd quarter. Arizona State Retirement System now owns 41,303 shares of the company's stock worth $754,000 after acquiring an additional 3,881 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 research analysts have weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price (up from $26.00) on shares of ACV Auctions in a research note on Thursday, December 26th. Piper Sandler increased their price objective on ACV Auctions from $16.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, November 8th. JMP Securities restated a "market outperform" rating and issued a $25.00 target price on shares of ACV Auctions in a research note on Monday, December 16th. Raymond James assumed coverage on ACV Auctions in a research note on Friday, September 27th. They set a "market perform" rating and a $22.00 price target for the company. Finally, B. Riley boosted their price objective on ACV Auctions from $24.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, ACV Auctions currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.80.
Read Our Latest Stock Report on ACV Auctions
ACV Auctions Company Profile
(
Get Free Report)
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.
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