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

ACV Auctions Inc. (NASDAQ:ACVA) has earned an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $23.35.

Several research analysts have recently commented on ACVA shares. Barrington Research reiterated an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. Needham & Company LLC decreased their price objective on shares of ACV Auctions from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday. B. Riley increased their target price on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stephens upgraded shares of ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Finally, Piper Sandler boosted their price objective on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, November 8th.

Insider Transactions at ACV Auctions

In other news, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $22.41, for a total transaction of $728,325.00. Following the sale, the chief financial officer now owns 490,482 shares of the company’s stock, valued at approximately $10,991,701.62. The trade was a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Waterman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $20.27, for a total value of $304,050.00. Following the completion of the transaction, the insider now directly owns 311,354 shares of the company’s stock, valued at $6,311,145.58. This trade represents a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,162 shares of company stock worth $2,663,776. Insiders own 8.50% of the company’s stock.

Institutional Trading of ACV Auctions

Hedge funds have recently added to or reduced their stakes in the business. William Blair Investment Management LLC raised its stake in shares of ACV Auctions by 43.2% during the fourth quarter. William Blair Investment Management LLC now owns 12,099,686 shares of the company’s stock valued at $261,353,000 after purchasing an additional 3,652,871 shares in the last quarter. Driehaus Capital Management LLC increased its stake in ACV Auctions by 128.5% during the 4th quarter. Driehaus Capital Management LLC now owns 2,837,165 shares of the company’s stock valued at $61,283,000 after buying an additional 1,595,657 shares during the period. Spyglass Capital Management LLC raised its position in shares of ACV Auctions by 69.1% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,614,245 shares of the company’s stock worth $53,148,000 after buying an additional 1,068,356 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of ACV Auctions in the 3rd quarter worth approximately $21,540,000. Finally, Franklin Resources Inc. boosted its holdings in shares of ACV Auctions by 2,346.2% in the fourth quarter. Franklin Resources Inc. now owns 1,001,365 shares of the company’s stock valued at $21,629,000 after acquiring an additional 960,430 shares in the last quarter. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Trading Down 5.2 %

NASDAQ ACVA opened at $17.63 on Monday. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -35.98 and a beta of 1.69. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.51. ACV Auctions has a 12 month low of $14.76 and a 12 month high of $23.46. The company’s fifty day moving average price is $21.17 and its two-hundred day moving average price is $20.21.

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

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.