ACV Auctions (NASDAQ:ACVA) Reaches New 52-Week Low – Should You Sell?

ACV Auctions Inc. (NASDAQ:ACVA) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $12.96 and last traded at $13.10, with a volume of 2885049 shares traded. The stock had previously closed at $14.11.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ACVA shares. B. Riley raised their price target on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC cut their target price on shares of ACV Auctions from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Citigroup lifted their target price on shares of ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 target price on shares of ACV Auctions in a report on Monday, December 16th. Finally, Stephens raised shares of ACV Auctions to a “hold” rating in a report on Saturday, February 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, ACV Auctions has an average rating of “Moderate Buy” and an average price target of $23.35.

ACV Auctions Stock Down 7.2 %

The business’s 50 day moving average is $19.83 and its 200-day moving average is $19.97. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -26.73 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The firm had revenue of $159.51 million for the quarter, compared to analysts’ expectations of $156.77 million. On average, sell-side analysts predict that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

Insider Activity at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 15,000 shares of ACV Auctions stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $20.57, for a total transaction 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. The trade was a 3.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Waterman sold 30,162 shares of ACV Auctions stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total transaction of $619,225.86. Following the sale, the insider now directly owns 314,738 shares in the company, valued at approximately $6,461,571.14. This trade represents a 8.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,662 shares of company stock valued at $1,935,451. 8.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACV Auctions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in ACV Auctions by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 14,245,915 shares of the company’s stock worth $307,712,000 after purchasing an additional 738,391 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of ACV Auctions by 43.2% during the 4th quarter. William Blair Investment Management LLC now owns 12,099,686 shares of the company’s stock valued at $261,353,000 after acquiring an additional 3,652,871 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of ACV Auctions by 11.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company’s stock valued at $175,969,000 after acquiring an additional 897,477 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of ACV Auctions by 5.3% during the 4th quarter. Alliancebernstein L.P. now owns 5,622,255 shares of the company’s stock valued at $121,441,000 after acquiring an additional 284,880 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of ACV Auctions by 17.2% during the 4th quarter. Jennison Associates LLC now owns 4,980,354 shares of the company’s stock valued at $107,576,000 after acquiring an additional 732,422 shares during the last quarter. Institutional investors and hedge funds 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.