ACV Auctions Inc. (NASDAQ:ACVA) Given Average Recommendation of “Moderate Buy” by Analysts

ACV Auctions Inc. (NASDAQ:ACVA) has received an average rating of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $22.50.

Several analysts recently commented on ACVA shares. Stephens raised shares of ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. JMP Securities lowered their price objective on ACV Auctions from $22.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 9th. Bank of America raised ACV Auctions from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $22.00 to $20.00 in a report on Wednesday, March 12th. Piper Sandler raised ACV Auctions from a “neutral” rating to an “overweight” rating and upped their price target for the company from $18.00 to $20.00 in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. reduced their price objective on ACV Auctions from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 27th.

ACV Auctions Trading Up 1.9 %

Shares of NASDAQ ACVA opened at $15.24 on Friday. The stock has a market cap of $2.57 billion, a P/E ratio of -31.10 and a beta of 1.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. ACV Auctions has a 1 year low of $11.88 and a 1 year high of $23.46. The firm has a 50-day moving average of $14.55 and a 200 day moving average of $18.57.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. The company had revenue of $159.51 million for the quarter, compared to the consensus estimate of $156.77 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. As a group, sell-side analysts expect that ACV Auctions will post -0.07 EPS for the current fiscal year.

Insider Transactions at ACV Auctions

In related news, CFO William Zerella sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $13.53, for a total value of $202,950.00. Following the transaction, the chief financial officer now directly owns 766,266 shares of the company’s stock, valued at approximately $10,367,578.98. This trade represents a 1.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George Chamoun sold 348,249 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $15.34, for a total value of $5,342,139.66. Following the sale, the chief executive officer now directly owns 2,821,193 shares of the company’s stock, valued at $43,277,100.62. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 378,249 shares of company stock worth $5,849,140 in the last quarter. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Versant Capital Management Inc grew its position in shares of ACV Auctions by 464.4% during the first quarter. Versant Capital Management Inc now owns 2,201 shares of the company’s stock worth $31,000 after purchasing an additional 1,811 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of ACV Auctions by 65.8% in the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock worth $48,000 after buying an additional 933 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of ACV Auctions by 3,005.8% during the first quarter. GAMMA Investing LLC now owns 5,932 shares of the company’s stock worth $84,000 after acquiring an additional 5,741 shares during the last quarter. Bessemer Group Inc. increased its holdings in ACV Auctions by 14.5% in the 1st quarter. Bessemer Group Inc. now owns 9,911 shares of the company’s stock valued at $140,000 after acquiring an additional 1,257 shares during the last quarter. Finally, KBC Group NV increased its holdings in ACV Auctions by 80.4% in the 4th quarter. KBC Group NV now owns 7,406 shares of the company’s stock valued at $160,000 after acquiring an additional 3,300 shares during the last quarter. 88.55% of the stock is owned by hedge funds and other institutional investors.

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.