ACV Auctions Inc. (NASDAQ:ACVA) Director Kirsten Castillo Sells 36,583 Shares

ACV Auctions Inc. (NASDAQ:ACVA – Get Rating) Director Kirsten Castillo sold 36,583 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $17.34, for a total value of $634,349.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

ACV Auctions Stock Performance

ACVA traded down $0.06 during trading on Friday, hitting $16.91. The stock had a trading volume of 993,891 shares, compared to its average volume of 1,215,484. The company has a 50 day moving average price of $13.57 and a 200-day moving average price of $10.94. ACV Auctions Inc. has a one year low of $6.10 and a one year high of $18.02. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -29.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.01 and a quick ratio of 2.01.

ACV Auctions (NASDAQ:ACVA – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. ACV Auctions had a negative return on equity of 16.03% and a negative net margin of 20.75%. The firm had revenue of $97.97 million for the quarter, compared to analyst estimates of $99.08 million. As a group, research analysts predict that ACV Auctions Inc. will post -0.54 EPS for the current year.

Analyst Upgrades and Downgrades

ACVA has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of ACV Auctions in a report on Thursday, February 23rd. JMP Securities raised their target price on ACV Auctions from $14.00 to $18.00 in a report on Thursday, May 11th. Barrington Research raised their target price on ACV Auctions from $14.00 to $18.00 in a report on Wednesday, May 17th. Citigroup lifted their target price on ACV Auctions from $14.00 to $19.00 in a research note on Friday, May 12th. Finally, Piper Sandler downgraded ACV Auctions from an “overweight” rating to a “neutral” rating and set a $11.00 target price for the company. in a research note on Thursday, February 16th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.80.

Institutional Investors Weigh In On ACV Auctions

A number of institutional investors have recently made changes to their positions in ACVA. ArrowMark Colorado Holdings LLC boosted its position in shares of ACV Auctions by 6.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 18,139,809 shares of the company’s stock valued at $148,928,000 after purchasing an additional 1,073,104 shares in the last quarter. FMR LLC boosted its holdings in ACV Auctions by 19.2% in the first quarter. FMR LLC now owns 11,884,854 shares of the company’s stock worth $153,433,000 after acquiring an additional 1,918,328 shares in the last quarter. Vanguard Group Inc. boosted its holdings in ACV Auctions by 1.3% in the third quarter. Vanguard Group Inc. now owns 10,467,242 shares of the company’s stock worth $75,260,000 after acquiring an additional 133,774 shares in the last quarter. Atreides Management LP boosted its holdings in ACV Auctions by 0.9% in the first quarter. Atreides Management LP now owns 10,260,409 shares of the company’s stock worth $132,462,000 after acquiring an additional 88,090 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in ACV Auctions by 5.2% in the first quarter. JPMorgan Chase & Co. now owns 4,314,089 shares of the company’s stock worth $55,695,000 after acquiring an additional 213,799 shares in the last quarter. Institutional investors own 69.75% 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. It also provides data services that offer insights into the condition and value of used vehicles, as well as offers customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.