William Zerella Sells 15,000 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 15,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $13.53, for a total transaction of $202,950.00. Following the transaction, the chief financial officer now owns 766,266 shares of the company’s stock, valued at approximately $10,367,578.98. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, January 7th, William Zerella sold 15,000 shares of ACV Auctions stock. The stock was sold at an average price of $20.57, for a total transaction of $308,550.00.
• On Monday, December 30th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $21.65, for a total transaction of $703,625.00.

ACV Auctions Trading Up 2.2 %

Shares of NASDAQ:ACVA opened at $14.31 on Friday. ACV Auctions Inc. has a 12-month low of $12.77 and a 12-month high of $23.46. The stock has a market cap of $2.42 billion, a PE ratio of -29.20 and a beta of 1.73. The business has a 50 day moving average of $19.25 and a 200-day moving average of $19.82. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28.

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

Institutional Investors Weigh In On ACV Auctions

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of ACV Auctions by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 14,245,915 shares of the company’s stock valued at $307,712,000 after buying an additional 738,391 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of ACV Auctions by 43.2% in 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 buying an additional 3,652,871 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of ACV Auctions by 11.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company’s stock valued at $175,969,000 after buying an additional 897,477 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of ACV Auctions by 5.3% in the fourth quarter. Alliancebernstein L.P. now owns 5,622,255 shares of the company’s stock valued at $121,441,000 after buying an additional 284,880 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of ACV Auctions by 17.2% in the fourth quarter. Jennison Associates LLC now owns 4,980,354 shares of the company’s stock valued at $107,576,000 after buying an additional 732,422 shares in the last quarter. Institutional investors own 88.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ACVA shares. Bank of America upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $25.00 target price on shares of ACV Auctions in a research note on Monday, December 16th. B. Riley raised their target price on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Citigroup raised their target price on shares of ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of ACV Auctions in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.05.

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.