ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report)'s stock price was up 4.3% during trading on Wednesday . The stock traded as high as $21.18 and last traded at $21.18. Approximately 710,575 shares changed hands during trading, a decline of 28% from the average daily volume of 983,051 shares. The stock had previously closed at $20.30.
Analyst Ratings Changes
Several equities analysts recently issued reports on ACVA shares. Barrington Research reissued an "outperform" rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. Piper Sandler upped their target price on ACV Auctions from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Needham & Company LLC reissued a "buy" rating and set a $28.00 price target (up from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. Citigroup upped their price objective on shares of ACV Auctions from $22.00 to $27.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Finally, Raymond James assumed coverage on ACV Auctions in a report on Friday, September 27th. They issued a "market perform" rating and a $22.00 price objective for the company. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $23.80.
Get Our Latest Analysis on ACVA
ACV Auctions Trading Up 4.1 %
The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of -44.98 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. The company has a 50 day moving average price of $21.11 and a two-hundred day moving average price of $19.39.
Insider Buying and Selling at ACV Auctions
In related news, CFO William Zerella sold 32,500 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total value of $610,675.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares of the company's stock, valued at approximately $9,216,156.78. This represents a 6.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Waterman sold 18,001 shares of ACV Auctions stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $338,238.79. Following the sale, the insider now directly owns 337,190 shares in the company, valued at approximately $6,335,800.10. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,501 shares of company stock valued at $2,380,864 over the last ninety days. Corporate insiders own 8.50% of the company's stock.
Hedge Funds Weigh In On ACV Auctions
Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in shares of ACV Auctions by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company's stock worth $29,000 after purchasing an additional 884 shares during the last quarter. MCF Advisors LLC boosted its stake in ACV Auctions by 107.0% during the third quarter. MCF Advisors LLC now owns 1,480 shares of the company's stock worth $30,000 after buying an additional 765 shares during the last quarter. Park Place Capital Corp boosted its stake in ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company's stock worth $56,000 after buying an additional 706 shares during the last quarter. Amalgamated Bank grew its holdings 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 in the last quarter. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of ACV Auctions in the 3rd quarter worth $206,000. 88.55% of the stock is owned by hedge funds and other institutional investors.
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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