Insider Selling: ACV Auctions Inc. (NASDAQ:ACVA) CFO Sells 15,000 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.57, for a total value of $308,550.00. Following the sale, the chief financial officer now owns 462,452 shares of the company’s stock, valued at $9,512,637.64. This represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, December 30th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $21.65, for a total value of $703,625.00.
• On Tuesday, November 26th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $22.41, for a total value of $728,325.00.
• On Tuesday, October 15th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $18.79, for a total value of $610,675.00.

ACV Auctions Trading Down 1.8 %

NASDAQ:ACVA opened at $20.75 on Friday. The firm has a market capitalization of $3.48 billion, a P/E ratio of -44.15 and a beta of 1.69. The business has a 50 day simple moving average of $21.26 and a 200 day simple moving average of $19.42. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. ACV Auctions Inc. has a 12-month low of $12.84 and a 12-month high of $23.46.

Analyst Ratings Changes

A number of research analysts have commented on ACVA shares. JMP Securities reiterated a “market outperform” rating and set a $25.00 price objective on shares of ACV Auctions in a research note on Monday, December 16th. Citigroup increased their price target on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective (up previously from $26.00) on shares of ACV Auctions in a research note on Thursday, December 26th. Barrington Research reiterated an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. Finally, Piper Sandler upped their price target on ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.00.

Hedge Funds Weigh In On ACV Auctions

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its position in ACV Auctions by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after purchasing an additional 884 shares during the last quarter. MCF Advisors LLC grew its position in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after purchasing an additional 765 shares during the last quarter. Park Place Capital Corp increased its stake 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 valued at $56,000 after purchasing an additional 706 shares during the period. Amalgamated Bank raised its holdings in shares of ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after buying an additional 782 shares during the last quarter. Finally, Verdence Capital Advisors LLC acquired a new position in shares of ACV Auctions during the third quarter worth approximately $206,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

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.