ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) CEO George Chamoun sold 348,249 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $15.34, for a total value of $5,342,139.66. Following the completion of the transaction, the chief executive officer now directly owns 2,821,193 shares of the company's stock, valued at approximately $43,277,100.62. The trade was a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
ACV Auctions Price Performance
ACVA stock traded up $0.29 during mid-day trading on Tuesday, hitting $16.30. The stock had a trading volume of 1,784,528 shares, compared to its average volume of 1,392,785. The firm has a fifty day simple moving average of $18.56 and a 200 day simple moving average of $19.70. ACV Auctions Inc. has a 52 week low of $12.77 and a 52 week high of $23.46. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.75 billion, a P/E ratio of -33.27 and a beta of 1.73.
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 the consensus estimate of ($0.15) by $0.01. The business had revenue of $159.51 million during the quarter, compared to the consensus estimate of $156.77 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. As a group, research analysts forecast that ACV Auctions Inc. will post -0.07 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Moody National Bank Trust Division boosted its stake in shares of ACV Auctions by 64.6% in the 4th quarter. Moody National Bank Trust Division now owns 79,199 shares of the company's stock valued at $1,711,000 after purchasing an additional 31,094 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in ACV Auctions in the third quarter valued at approximately $566,000. Charles Schwab Investment Management Inc. grew its stake in shares of ACV Auctions by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,289,362 shares of the company's stock worth $27,850,000 after buying an additional 48,021 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of ACV Auctions by 55.7% during the 4th quarter. Intech Investment Management LLC now owns 62,395 shares of the company's stock valued at $1,348,000 after acquiring an additional 22,310 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its position in ACV Auctions by 6.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,891,627 shares of the company's stock worth $40,859,000 after acquiring an additional 118,421 shares during the last quarter. Institutional investors own 88.55% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on ACVA. Bank of America upgraded ACV Auctions from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $22.00 to $20.00 in a report on Wednesday, March 12th. B. Riley boosted their price objective on ACV Auctions from $24.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Piper Sandler upgraded ACV Auctions from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $18.00 to $20.00 in a research note on Thursday, March 20th. Stephens upgraded ACV Auctions to a "hold" rating in a research note on Saturday, February 1st. Finally, Citigroup increased their price objective on ACV Auctions from $22.00 to $27.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, ACV Auctions has a consensus rating of "Moderate Buy" and an average price target of $23.23.
Check Out Our Latest Stock Analysis on ACV Auctions
About ACV Auctions
(
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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