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

ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) has earned an average rating of "Moderate Buy" from the eleven research firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $23.05.

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 target price on shares of ACV Auctions in a report on Wednesday, March 12th. Citigroup upped their target price on ACV Auctions from $22.00 to $27.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Stephens raised ACV Auctions to a "hold" rating in a research report on Saturday, February 1st. Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $22.00 to $20.00 in a research report on Wednesday, March 12th. Finally, B. Riley boosted their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th.

Insider Activity at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 15,000 shares of the business's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.57, for a total value of $308,550.00. Following the completion of the transaction, the chief financial officer now directly owns 462,452 shares of the company's stock, valued at approximately $9,512,637.64. The trade was a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Waterman sold 30,162 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total transaction of $619,225.86. Following the sale, the insider now directly owns 314,738 shares in the company, valued at $6,461,571.14. This trade represents a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,662 shares of company stock valued at $2,138,401 in the last three months. Corporate insiders own 8.50% of the company's stock.

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Institutional Trading of ACV Auctions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of ACV Auctions by 4.9% during the third quarter. Principal Financial Group Inc. now owns 64,925 shares of the company's stock worth $1,320,000 after buying an additional 3,022 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in ACV Auctions by 6.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 26,958 shares of the company's stock worth $548,000 after acquiring an additional 1,670 shares during the period. GSA Capital Partners LLP bought a new stake in shares of ACV Auctions during the 3rd quarter valued at $562,000. Aigen Investment Management LP acquired a new position in shares of ACV Auctions in the 3rd quarter valued at $287,000. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of ACV Auctions by 43.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 199,972 shares of the company's stock worth $4,065,000 after purchasing an additional 60,991 shares during the last quarter. 88.55% of the stock is owned by institutional investors.

ACV Auctions Price Performance

Shares of NASDAQ ACVA traded up $0.40 during mid-day trading on Friday, reaching $14.71. 2,868,105 shares of the company traded hands, compared to its average volume of 1,345,499. The firm has a market cap of $2.48 billion, a PE ratio of -30.02 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. ACV Auctions has a fifty-two week low of $12.77 and a fifty-two week high of $23.46. The stock has a fifty day simple moving average of $19.25 and a 200-day simple moving average of $19.84.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.01. The company had revenue of $159.51 million during the quarter, compared to the consensus estimate of $156.77 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. Equities research analysts anticipate that ACV Auctions will post -0.07 EPS for the current fiscal year.

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.