Insider Selling: ACV Auctions Inc. (NASDAQ:ACVA) Insider Sells 15,000 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) insider Michael Waterman sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total value of $304,050.00. Following the completion of the sale, the insider now owns 311,354 shares in the company, valued at approximately $6,311,145.58. This represents a 4.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Michael Waterman also recently made the following trade(s):

• On Tuesday, January 7th, Michael Waterman sold 30,162 shares of ACV Auctions stock. The shares were sold at an average price of $20.53, for a total transaction of $619,225.86.

ACV Auctions Price Performance

Shares of NASDAQ ACVA traded up $0.43 during midday trading on Monday, hitting $21.60. The stock had a trading volume of 1,448,033 shares, compared to its average volume of 1,180,717. 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 stock has a 50 day simple moving average of $21.38 and a 200-day simple moving average of $19.93. The company has a market capitalization of $3.62 billion, a PE ratio of -45.96 and a beta of 1.69. ACV Auctions Inc. has a 1 year low of $13.52 and a 1 year high of $23.46.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. 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. Barrington Research reaffirmed an "outperform" rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Monday, November 4th. Stephens raised shares of ACV Auctions to a "hold" rating in a report on Saturday, February 1st. B. Riley lifted their price objective 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. Finally, Piper Sandler increased their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $23.65.

Institutional Investors Weigh In On ACV Auctions

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACVA. William Blair Investment Management LLC boosted its position in ACV Auctions by 43.2% during the fourth quarter. William Blair Investment Management LLC now owns 12,099,686 shares of the company's stock worth $261,353,000 after acquiring an additional 3,652,871 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of ACV Auctions by 11.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company's stock worth $175,969,000 after purchasing an additional 897,477 shares during the last quarter. Jennison Associates LLC grew its position in shares of ACV Auctions by 17.2% in the fourth quarter. Jennison Associates LLC now owns 4,980,354 shares of the company's stock valued at $107,576,000 after purchasing an additional 732,422 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of ACV Auctions by 2.0% in the third quarter. Geode Capital Management LLC now owns 3,517,088 shares of the company's stock valued at $71,516,000 after purchasing an additional 67,969 shares during the last quarter. Finally, State Street Corp lifted its position in ACV Auctions by 3.7% during the third quarter. State Street Corp now owns 3,242,388 shares of the company's stock worth $65,918,000 after buying an additional 115,700 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company's stock.

ACV Auctions Company Profile

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.