ACV Auctions Inc. (NASDAQ:ACVA) Director Kirsten Castillo Sells 15,000 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVAGet Free Report) Director Kirsten Castillo sold 15,000 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $17.68, for a total value of $265,200.00. Following the completion of the transaction, the director now owns 9,239 shares of the company’s stock, valued at $163,345.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

ACV Auctions Stock Performance

Shares of ACVA stock opened at $18.36 on Tuesday. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $19.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market capitalization of $3.03 billion, a P/E ratio of -38.25 and a beta of 1.55. The company’s fifty day moving average price is $17.99 and its two-hundred day moving average price is $16.38.

ACV Auctions (NASDAQ:ACVAGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $145.69 million during the quarter, compared to analyst estimates of $144.14 million. ACV Auctions had a negative net margin of 15.28% and a negative return on equity of 13.50%. On average, research analysts anticipate that ACV Auctions Inc. will post -0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ACVA has been the subject of several analyst reports. Barrington Research reiterated an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a report on Monday, May 13th. Piper Sandler boosted their price objective on shares of ACV Auctions from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. JMP Securities boosted their price objective on shares of ACV Auctions from $20.00 to $21.00 and gave the company a “market outperform” rating in a research note on Friday. Needham & Company LLC reissued a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Monday, June 3rd. Finally, JPMorgan Chase & Co. raised shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price objective for the company in a research note on Monday. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, ACV Auctions currently has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Check Out Our Latest Stock Report on ACV Auctions

Institutional Investors Weigh In On ACV Auctions

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in ACV Auctions by 8.6% during the third quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company’s stock worth $194,445,000 after acquiring an additional 1,010,941 shares during the period. Dimensional Fund Advisors LP raised its stake in ACV Auctions by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,846,726 shares of the company’s stock worth $27,979,000 after acquiring an additional 329,854 shares during the period. Jennison Associates LLC raised its stake in ACV Auctions by 9.7% during the fourth quarter. Jennison Associates LLC now owns 3,561,009 shares of the company’s stock worth $53,949,000 after acquiring an additional 313,856 shares during the period. Loomis Sayles & Co. L P acquired a new stake in ACV Auctions during the third quarter worth about $32,611,000. Finally, Deepwater Asset Management LLC raised its stake in ACV Auctions by 20.1% during the fourth quarter. Deepwater Asset Management LLC now owns 851,819 shares of the company’s stock worth $12,905,000 after acquiring an additional 142,296 shares during the period. Institutional investors and hedge funds own 88.55% of the company’s stock.

ACV Auctions Company Profile

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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.

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Insider Buying and Selling by Quarter for ACV Auctions (NASDAQ:ACVA)

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