ACV Auctions Inc. (NASDAQ:ACVA) Receives $20.21 Consensus Target Price from Analysts

Shares of ACV Auctions Inc. (NASDAQ:ACVAGet Free Report) have received a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $20.21.

A number of equities research analysts recently commented on the company. JMP Securities decreased their price target on ACV Auctions from $20.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Tuesday, January 16th. Northcoast Research raised ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, January 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Tuesday, November 7th.

Check Out Our Latest Report on ACVA

Insider Transactions at ACV Auctions

In related news, insider Craig Eric Anderson sold 40,252 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $14.86, for a total value of $598,144.72. Following the sale, the insider now owns 199,413 shares in the company, valued at approximately $2,963,277.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ACV Auctions news, insider Craig Eric Anderson sold 40,252 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $14.86, for a total value of $598,144.72. Following the completion of the sale, the insider now owns 199,413 shares in the company, valued at approximately $2,963,277.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $13.55, for a total transaction of $440,375.00. Following the sale, the chief financial officer now owns 305,579 shares of the company’s stock, valued at approximately $4,140,595.45. The disclosure for this sale can be found here. Insiders have sold 613,691 shares of company stock valued at $8,947,778 in the last 90 days. 13.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACV Auctions

A number of hedge funds have recently modified their holdings of ACVA. Envestnet Asset Management Inc. bought a new stake in shares of ACV Auctions during the 1st quarter valued at about $181,000. Advisor Group Holdings Inc. boosted its stake in shares of ACV Auctions by 18.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 10,397 shares of the company’s stock valued at $153,000 after purchasing an additional 1,627 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ACV Auctions by 3.2% during the 1st quarter. Bank of New York Mellon Corp now owns 49,679 shares of the company’s stock valued at $736,000 after purchasing an additional 1,547 shares in the last quarter. Citigroup Inc. boosted its stake in shares of ACV Auctions by 359.1% during the 1st quarter. Citigroup Inc. now owns 3,641 shares of the company’s stock valued at $54,000 after purchasing an additional 2,848 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in ACV Auctions during the first quarter worth about $2,195,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

ACV Auctions Trading Up 0.3 %

Shares of ACVA opened at $14.54 on Thursday. ACV Auctions has a 12-month low of $9.55 and a 12-month high of $18.68. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -30.29 and a beta of 1.41. The stock’s 50-day moving average price is $14.28 and its 200 day moving average price is $14.92. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.22.

ACV Auctions Company Profile

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ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company provides data services insights into the condition and value of used vehicles, as well as customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.

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Analyst Recommendations for ACV Auctions (NASDAQ:ACVA)

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