Michael Waterman Sells 30,162 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 30,162 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total value of $619,225.86. Following the completion of the sale, the insider now owns 314,738 shares in the company, valued at approximately $6,461,571.14. This represents a 8.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Michael Waterman also recently made the following trade(s):

• On Tuesday, October 15th, Michael Waterman sold 18,001 shares of ACV Auctions stock. The shares were sold at an average price of $18.79, for a total value of $338,238.79.

ACV Auctions Trading Down 1.8 %

Shares of ACVA traded down $0.39 during trading hours on Friday, hitting $20.75. 1,313,075 shares of the stock traded hands, compared to its average volume of 1,109,358. The business has a fifty day moving average of $21.19 and a 200-day moving average of $19.40. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $3.48 billion, a PE ratio of -44.15 and a beta of 1.69. ACV Auctions Inc. has a 1-year low of $12.84 and a 1-year high of $23.46.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of ACV Auctions by 165.2% during the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after buying an additional 884 shares during the last quarter. MCF Advisors LLC grew its holdings in ACV Auctions by 107.0% during the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after acquiring an additional 765 shares during the period. Park Place Capital Corp raised its position in shares of ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after acquiring an additional 706 shares during the last quarter. Amalgamated Bank lifted its stake in shares of ACV Auctions by 18.0% in the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after purchasing an additional 782 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new position in shares of ACV Auctions in the 3rd quarter valued at $206,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup boosted 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. 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 price objective for the company. B. Riley boosted their target price on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Barrington Research restated an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research report on Monday, November 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $25.00 price objective on shares of ACV Auctions in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.80.

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.