ACV Auctions Inc. (NASDAQ:ACVA) CFO Sells $610,675.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total value of $610,675.00. Following the transaction, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at approximately $9,216,156.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, September 17th, William Zerella sold 76,856 shares of ACV Auctions stock. The stock was sold at an average price of $20.26, for a total value of $1,557,102.56.
• On Tuesday, August 6th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $15.19, for a total value of $493,675.00.

ACV Auctions Stock Performance

NASDAQ:ACVA traded down $0.06 during trading hours on Thursday, reaching $19.20. The company had a trading volume of 402,459 shares, compared to its average volume of 1,210,149. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24. ACV Auctions Inc. has a 52 week low of $12.84 and a 52 week high of $21.10. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -40.13 and a beta of 1.56. The firm’s 50 day moving average price is $19.15 and its 200-day moving average price is $18.28.

ACV Auctions (NASDAQ:ACVA) last released its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. The company had revenue of $160.62 million for the quarter, compared to analysts’ expectations of $156.33 million. On average, analysts forecast that ACV Auctions Inc. will post -0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JMP Securities lifted their price target on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 17th. Raymond James started coverage on shares of ACV Auctions in a report on Friday, September 27th. They set a “market perform” rating and a $22.00 target price on the stock. Finally, Barrington Research reissued an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, ACV Auctions has a consensus rating of “Moderate Buy” and an average price target of $21.57.

Institutional Trading of ACV Auctions

A number of large investors have recently made changes to their positions in the business. Creative Planning grew its stake in ACV Auctions by 129.4% in the 3rd quarter. Creative Planning now owns 27,935 shares of the company’s stock worth $568,000 after acquiring an additional 15,758 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of ACV Auctions in the third quarter worth $2,915,000. Park Place Capital Corp raised its holdings in shares of ACV Auctions by 34.1% in the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after buying an additional 706 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of ACV Auctions by 915.6% in the third quarter. SG Americas Securities LLC now owns 56,923 shares of the company’s stock worth $1,157,000 after acquiring an additional 51,318 shares during the period. Finally, Algert Global LLC acquired a new stake in shares of ACV Auctions in the second quarter worth $271,000. 88.55% of the stock is currently owned by 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.