ACV Auctions (NASDAQ:ACVA) Stock Rating Reaffirmed by JMP Securities

JMP Securities reissued their market outperform rating on shares of ACV Auctions (NASDAQ:ACVA) in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a $19.00 price objective on the stock.

Several other research analysts have also recently issued reports on the stock. Needham & Company LLC restated a buy rating and issued a $23.00 target price on shares of ACV Auctions in a report on Thursday, February 22nd. Northcoast Research upgraded shares of ACV Auctions from a neutral rating to a buy rating and set a $22.00 price target for the company in a research note on Wednesday, January 10th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $20.21.

ACV Auctions Trading Up 2.9 %

Shares of ACV Auctions stock opened at $17.80 on Wednesday. The company has a fifty day simple moving average of $17.27 and a 200-day simple moving average of $15.42. ACV Auctions has a 12-month low of $11.58 and a 12-month high of $19.54. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -38.70 and a beta of 1.57.

ACV Auctions (NASDAQ:ACVA) last issued its earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. The business had revenue of $118.38 million during the quarter, compared to analysts’ expectations of $117.62 million. On average, equities analysts forecast that ACV Auctions will post -0.29 EPS for the current fiscal year.

Insider Transactions at ACV Auctions

In other news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $17.17, for a total value of $558,025.00. Following the completion of the sale, the chief financial officer now owns 314,151 shares in the company, valued at approximately $5,393,972.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $17.17, for a total value of $558,025.00. Following the completion of the sale, the chief financial officer now owns 314,151 shares in the company, valued at approximately $5,393,972.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Vikas Mehta sold 200,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $16.48, for a total transaction of $3,296,000.00. Following the completion of the sale, the chief operating officer now owns 319,036 shares of the company’s stock, valued at approximately $5,257,713.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,507,708 shares of company stock worth $27,126,374. Company insiders own 13.67% of the company’s stock.

Institutional Trading of ACV Auctions

Hedge funds have recently made changes to their positions in the company. UBS Group AG lifted its stake in shares of ACV Auctions by 47.5% in the 4th quarter. UBS Group AG now owns 3,725 shares of the company’s stock worth $31,000 after acquiring an additional 1,200 shares during the period. Park Place Capital Corp increased its holdings in shares of ACV Auctions by 83.2% in the 3rd quarter. Park Place Capital Corp now owns 2,180 shares of the company’s stock valued at $33,000 after purchasing an additional 990 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of ACV Auctions in the 2nd quarter valued at about $36,000. KBC Group NV purchased a new position in shares of ACV Auctions in the 4th quarter valued at about $43,000. Finally, Lazard Asset Management LLC purchased a new position in shares of ACV Auctions in the 4th quarter valued at about $53,000. 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.