George Chamoun Sells 64,383 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) CEO George Chamoun sold 64,383 shares of ACV Auctions stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $15.74, for a total value of $1,013,388.42. Following the transaction, the chief executive officer now owns 622,950 shares of the company’s stock, valued at $9,805,233. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

George Chamoun also recently made the following trade(s):

• On Tuesday, September 12th, George Chamoun sold 83,895 shares of ACV Auctions stock. The stock was sold at an average price of $16.21, for a total value of $1,359,937.95.
• On Thursday, June 22nd, George Chamoun sold 105,970 shares of ACV Auctions stock. The stock was sold at an average price of $17.75, for a total value of $1,880,967.50.
• On Tuesday, June 20th, George Chamoun sold 143,049 shares of ACV Auctions stock. The stock was sold at an average price of $18.01, for a total value of $2,576,312.49.

ACV Auctions Price Performance

Shares of NASDAQ ACVA opened at $15.60 on Friday. The stock has a market capitalization of $2.51 billion, a PE ratio of -30.00 and a beta of 1.35. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.18 and a quick ratio of 2.18. The business has a fifty day moving average price of $16.49 and a two-hundred day moving average price of $15.29. ACV Auctions Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $18.68.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings data on Monday, August 7th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.06. The firm had revenue of $124.22 million during the quarter, compared to analysts’ expectations of $119.44 million. ACV Auctions had a negative return on equity of 16.17% and a negative net margin of 18.33%. As a group, equities analysts predict that ACV Auctions Inc. will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACV Auctions

A number of institutional investors have recently modified their holdings of the business. ArrowMark Colorado Holdings LLC raised its holdings in shares of ACV Auctions by 6.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 18,139,809 shares of the company’s stock worth $148,928,000 after buying an additional 1,073,104 shares in the last quarter. FMR LLC raised its holdings in shares of ACV Auctions by 19.2% during the 1st quarter. FMR LLC now owns 11,884,854 shares of the company’s stock worth $153,433,000 after buying an additional 1,918,328 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of ACV Auctions by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 10,467,242 shares of the company’s stock worth $75,260,000 after buying an additional 133,774 shares in the last quarter. Atreides Management LP raised its holdings in shares of ACV Auctions by 0.9% during the 1st quarter. Atreides Management LP now owns 10,260,409 shares of the company’s stock worth $132,462,000 after buying an additional 88,090 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of ACV Auctions by 9.6% during the 2nd quarter. BlackRock Inc. now owns 8,801,884 shares of the company’s stock worth $152,009,000 after buying an additional 770,630 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JMP Securities lifted their target price on ACV Auctions from $18.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 8th. Barrington Research restated an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Monday, August 7th. Jefferies Financial Group boosted their price target on ACV Auctions from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. JPMorgan Chase & Co. boosted their price target on ACV Auctions from $17.00 to $18.00 in a research note on Tuesday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Tuesday, August 8th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, ACV Auctions currently has a consensus rating of “Moderate Buy” and an average price target of $19.07.

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 provides data services insights into the condition and value of used vehicles, as well as customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.