ACV Auctions Inc. (NASDAQ:ACVA) Insider Sells $619,225.86 in Stock

ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) insider Michael Waterman sold 30,162 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total value of $619,225.86. Following the transaction, the insider now owns 314,738 shares of the company's stock, valued at approximately $6,461,571.14. This trade represents a 8.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, October 15th, Michael Waterman sold 18,001 shares of ACV Auctions stock. The shares were sold at an average price of $18.79, for a total value of $338,238.79.

ACV Auctions Stock Down 1.8 %

Shares of ACV Auctions stock traded down $0.39 on Friday, reaching $20.75. 1,317,013 shares of the company were exchanged, compared to its average volume of 1,165,799. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $23.46. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -44.15 and a beta of 1.69. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $21.26 and a 200 day moving average of $19.42.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACVA. Blue Trust Inc. increased 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 acquiring an additional 884 shares during the last quarter. MCF Advisors LLC grew its holdings 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 in the last quarter. Park Place Capital Corp grew its holdings 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 in 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 position in ACV Auctions in the 3rd quarter valued at $206,000. 88.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ACVA shares. Piper Sandler increased their price objective on ACV Auctions from $16.00 to $18.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price target (up previously from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. Citigroup upped their price objective on ACV Auctions from $22.00 to $27.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Jefferies Financial Group raised their price objective on ACV Auctions from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Finally, B. Riley lifted their price target on shares of ACV Auctions from $24.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $23.80.

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.