Needham & Company LLC Lowers ACV Auctions (NASDAQ:ACVA) Price Target to $25.00

ACV Auctions (NASDAQ:ACVA - Free Report) had its target price lowered by Needham & Company LLC from $28.00 to $25.00 in a report issued on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Piper Sandler raised their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Citigroup lifted their target price on ACV Auctions from $22.00 to $27.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. JMP Securities reaffirmed a "market outperform" rating and set a $25.00 target price on shares of ACV Auctions in a research report on Monday, December 16th. Barrington Research reiterated an "outperform" rating and issued a $23.00 price target on shares of ACV Auctions in a research report on Monday, November 4th. Finally, Stephens upgraded ACV Auctions to a "hold" rating in a report on Saturday, February 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.35.

ACV Auctions Price Performance

Shares of ACVA traded down $0.25 during midday trading on Thursday, reaching $17.33. The stock had a trading volume of 1,720,842 shares, compared to its average volume of 1,496,082. The firm's 50 day moving average price is $21.17 and its 200-day moving average price is $20.21. ACV Auctions has a 52 week low of $14.76 and a 52 week high of $23.46. The company has a market capitalization of $2.90 billion, a P/E ratio of -35.36 and a beta of 1.69. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.51.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The firm had revenue of $159.51 million for the quarter, compared to analysts' expectations of $156.77 million. On average, analysts forecast that ACV Auctions will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total transaction of $728,325.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares of the company's stock, valued at $10,991,701.62. This trade represents a 6.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Waterman sold 15,000 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $20.27, for a total transaction of $304,050.00. Following the completion of the transaction, the insider now directly owns 311,354 shares in the company, valued at $6,311,145.58. This trade represents a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 125,162 shares of company stock valued at $2,663,776 in the last 90 days. 8.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACV Auctions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. grew its position in ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company's stock worth $29,000 after acquiring an additional 884 shares in the last quarter. MCF Advisors LLC boosted its holdings in ACV Auctions by 107.0% in the third quarter. MCF Advisors LLC now owns 1,480 shares of the company's stock worth $30,000 after purchasing an additional 765 shares in the last quarter. KBC Group NV increased its position in ACV Auctions by 80.4% during the fourth quarter. KBC Group NV now owns 7,406 shares of the company's stock worth $160,000 after buying an additional 3,300 shares during the last quarter. Mackenzie Financial Corp bought a new position in ACV Auctions during the fourth quarter valued at about $206,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of ACV Auctions in the third quarter worth about $206,000. 88.55% of the stock is owned by hedge funds and other institutional investors.

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.