ACV Auctions Inc. (NASDAQ:ACVA) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) have been given a consensus rating of "Moderate Buy" by the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.65.

A number of equities research analysts have recently issued reports on the stock. B. Riley boosted their price target on shares of ACV Auctions from $24.00 to $27.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Barrington Research restated an "outperform" rating and set a $23.00 price target on shares of ACV Auctions in a report on Monday, November 4th. Citigroup boosted their price objective on shares of 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 boosted their price objective on shares of ACV Auctions from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group boosted their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd.

Insiders Place Their Bets

In other ACV Auctions news, insider Michael Waterman sold 30,162 shares of the business's 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO William Zerella sold 15,000 shares of the business's 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 $9,512,637.64. This represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,162 shares of company stock valued at $2,359,726 over the last ninety days. Corporate insiders own 8.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ACVA. Blue Trust Inc. grew its stake in ACV Auctions by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company's stock valued at $29,000 after buying an additional 884 shares during the last quarter. MCF Advisors LLC grew its stake in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company's stock valued at $30,000 after buying an additional 765 shares during the last quarter. Park Place Capital Corp grew its stake in ACV Auctions by 34.1% in the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company's stock valued at $56,000 after buying an additional 706 shares during the last quarter. Amalgamated Bank grew its stake in 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 buying an additional 782 shares during the last quarter. Finally, KBC Group NV grew its stake in ACV Auctions by 80.4% in the 4th quarter. KBC Group NV now owns 7,406 shares of the company's stock valued at $160,000 after buying an additional 3,300 shares during the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.

ACV Auctions Trading Up 3.0 %

Shares of ACVA stock traded up $0.65 during trading hours on Thursday, reaching $22.09. 1,551,257 shares of the stock traded hands, compared to its average volume of 1,167,061. ACV Auctions has a 1-year low of $12.84 and a 1-year high of $23.46. The business has a fifty day moving average price of $21.61 and a 200 day moving average price of $19.64. 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 firm has a market capitalization of $3.70 billion, a PE ratio of -47.00 and a beta of 1.69.

About ACV Auctions

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.