ACV Auctions Inc. (NASDAQ:ACVA) CFO Sells $558,025.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $17.17, for a total transaction of $558,025.00. Following the sale, the chief financial officer now owns 314,151 shares of the company’s stock, valued at $5,393,972.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

William Zerella also recently made the following trade(s):

• On Tuesday, March 19th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $18.40, for a total transaction of $598,000.00.
• On Tuesday, March 5th, William Zerella sold 50,000 shares of ACV Auctions stock. The stock was sold at an average price of $18.72, for a total transaction of $936,000.00.
• On Tuesday, February 6th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $14.07, for a total transaction of $457,275.00.

ACV Auctions Price Performance

Shares of NASDAQ:ACVA opened at $17.30 on Friday. The firm has a market cap of $2.84 billion, a PE ratio of -37.61 and a beta of 1.57. The firm’s fifty day moving average is $17.33 and its 200-day moving average is $15.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12. ACV Auctions Inc. has a 52 week low of $11.58 and a 52 week high of $19.54.

ACV Auctions (NASDAQ:ACVA) last released 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. The business had revenue of $118.38 million for the quarter, compared to analyst estimates of $117.62 million. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. Sell-side analysts predict that ACV Auctions Inc. will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of ACV Auctions in a report on Thursday, February 22nd. Northcoast Research raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Wednesday, January 10th. Finally, JMP Securities reissued a “market outperform” rating and issued a $19.00 price objective on shares of ACV Auctions in a research note on Wednesday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.21.

Institutional Investors Weigh In On ACV Auctions

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG increased its position in shares of ACV Auctions by 47.5% during the fourth quarter. UBS Group AG now owns 3,725 shares of the company’s stock worth $31,000 after acquiring an additional 1,200 shares in the last quarter. Park Place Capital Corp increased its position in shares of ACV Auctions by 83.2% during the third quarter. Park Place Capital Corp now owns 2,180 shares of the company’s stock worth $33,000 after acquiring an additional 990 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of ACV Auctions during the second quarter worth about $36,000. KBC Group NV bought a new stake in shares of ACV Auctions during the fourth quarter worth about $43,000. Finally, Lazard Asset Management LLC bought a new stake in shares of ACV Auctions during the fourth quarter worth about $53,000. 88.55% of the stock is owned by 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.