ACV Auctions’ (ACVA) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of ACV Auctions (NASDAQ:ACVA) in a research note published on Wednesday morning, Benzinga reports. They currently have a $19.00 price objective on the stock.

ACVA has been the subject of several other research reports. Northcoast Research raised shares of ACV Auctions from a neutral rating to a buy rating and set a $22.00 target price for the company in a report on Wednesday, January 10th. Needham & Company LLC reissued a buy rating and set a $23.00 target price on shares of ACV Auctions in a report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $20.21.

ACV Auctions Trading Up 2.9 %

NASDAQ:ACVA opened at $17.80 on Wednesday. ACV Auctions has a 12 month low of $11.58 and a 12 month high of $19.54. The firm has a fifty day simple moving average of $17.27 and a 200-day simple moving average of $15.42. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $2.92 billion, a P/E ratio of -38.70 and a beta of 1.57.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. The business had revenue of $118.38 million during the quarter, compared to the consensus estimate of $117.62 million. On average, equities research analysts anticipate that ACV Auctions will post -0.29 earnings per share for the current year.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, insider Craig Eric Anderson sold 5,000 shares of ACV Auctions stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $18.00, for a total value of $90,000.00. Following the completion of the transaction, the insider now owns 202,797 shares of the company’s stock, valued at $3,650,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Craig Eric Anderson sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $18.00, for a total transaction of $90,000.00. Following the completion of the sale, the insider now owns 202,797 shares of the company’s stock, valued at $3,650,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Waterman sold 10,130 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $18.47, for a total transaction of $187,101.10. Following the sale, the insider now directly owns 234,234 shares of the company’s stock, valued at approximately $4,326,301.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,507,708 shares of company stock valued at $27,126,374. Corporate insiders own 13.67% of the company’s stock.

Institutional Trading of ACV Auctions

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of ACV Auctions by 8.6% during the third quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company’s stock worth $194,445,000 after purchasing an additional 1,010,941 shares in the last quarter. FMR LLC increased its stake in shares of ACV Auctions by 9.4% during the third quarter. FMR LLC now owns 11,763,945 shares of the company’s stock worth $178,577,000 after purchasing an additional 1,011,236 shares in the last quarter. Atreides Management LP increased its stake in shares of ACV Auctions by 5.8% during the third quarter. Atreides Management LP now owns 10,829,070 shares of the company’s stock worth $164,385,000 after purchasing an additional 594,347 shares in the last quarter. BlackRock Inc. boosted its position in ACV Auctions by 9.6% during the second quarter. BlackRock Inc. now owns 8,801,884 shares of the company’s stock worth $152,009,000 after acquiring an additional 770,630 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in ACV Auctions by 4,360.9% during the second quarter. Alliancebernstein L.P. now owns 5,121,100 shares of the company’s stock worth $88,441,000 after acquiring an additional 5,006,300 shares during the last quarter. Hedge funds and other institutional investors 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.