ACV Auctions (NASDAQ:ACVA) Stock Price Expected to Rise, B. Riley Analyst Says

ACV Auctions (NASDAQ:ACVA) had its price target lifted by investment analysts at B. Riley from $24.00 to $27.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s target price suggests a potential upside of 19.73% from the stock’s current price.

A number of other equities analysts have also issued reports on ACVA. Jefferies Financial Group raised their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JMP Securities raised their target price on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 17th. Raymond James started coverage on shares of ACV Auctions in a report on Friday, September 27th. They issued a “market perform” rating and a $22.00 price target on the stock. Barrington Research reiterated an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Monday, November 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $26.00 price objective on shares of ACV Auctions in a report on Tuesday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.11.

ACV Auctions Stock Performance

Shares of ACVA stock traded down $0.41 during mid-day trading on Tuesday, reaching $22.55. The stock had a trading volume of 324,909 shares, compared to its average volume of 1,263,101. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. ACV Auctions has a 1-year low of $12.84 and a 1-year high of $23.46. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -47.74 and a beta of 1.59. The business’s fifty day moving average is $19.56 and its 200-day moving average is $18.60.

Insider Buying and Selling

In related news, VP Andrew Peer sold 1,795 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the transaction, the vice president now directly owns 62,956 shares of the company’s stock, valued at approximately $1,322,076. This represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total value of $610,675.00. Following the completion of the transaction, the chief financial officer now owns 490,482 shares in the company, valued at $9,216,156.78. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 493,437 shares of company stock valued at $9,751,672. 8.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACV Auctions

Large investors have recently modified their holdings of the business. Blue Trust Inc. increased its holdings in shares of ACV Auctions by 165.2% in the third 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 holdings in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after buying an additional 765 shares in the last quarter. Park Place Capital Corp increased its stake in shares of ACV Auctions by 34.1% in the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after acquiring an additional 706 shares during the last quarter. Amalgamated Bank raised its holdings in shares of ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after acquiring an additional 782 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new position in shares of ACV Auctions during the 3rd quarter valued at about $206,000. Hedge funds and other institutional investors own 88.55% of the company’s stock.

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.