George Chamoun Sells 111,363 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) CEO George Chamoun sold 111,363 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $20.27, for a total transaction of $2,257,328.01. Following the completion of the sale, the chief executive officer now directly owns 928,166 shares in the company, valued at approximately $18,813,924.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

ACV Auctions Stock Up 0.4 %

ACVA stock opened at $20.75 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average of $18.27 and a two-hundred day moving average of $18.11. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $21.01. The company has a market cap of $3.43 billion, a price-to-earnings ratio of -43.42 and a beta of 1.55.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $160.62 million during the quarter, compared to analyst estimates of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. As a group, analysts forecast that ACV Auctions Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Trading of ACV Auctions

Several institutional investors have recently added to or reduced their stakes in ACVA. Amalgamated Bank boosted its holdings in ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after acquiring an additional 782 shares during the period. UMB Bank n.a. acquired a new stake in shares of ACV Auctions during the first quarter worth about $114,000. Penn Mutual Asset Management LLC acquired a new stake in shares of ACV Auctions during the fourth quarter worth about $153,000. Public Employees Retirement Association of Colorado purchased a new position in shares of ACV Auctions in the second quarter valued at approximately $225,000. Finally, Blair William & Co. IL grew its holdings in shares of ACV Auctions by 14.7% in the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after purchasing an additional 1,626 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barrington Research reissued an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research note on Friday, August 16th. JPMorgan Chase & Co. raised shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price objective for the company in a research report on Monday, June 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of ACV Auctions in a research report on Monday, June 3rd. Finally, JMP Securities boosted their price target on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.50.

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.