Insider Selling: ACV Auctions Inc. (NASDAQ:ACVA) CFO Sells $558,025.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $17.17, for a total transaction of $558,025.00. Following the sale, the chief financial officer now owns 314,151 shares of the company’s stock, valued at $5,393,972.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, March 19th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $18.40, for a total transaction of $598,000.00.
• On Tuesday, March 5th, William Zerella sold 50,000 shares of ACV Auctions stock. The stock was sold at an average price of $18.72, for a total transaction of $936,000.00.
• On Tuesday, February 6th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $14.07, for a total transaction of $457,275.00.

ACV Auctions Trading Up 0.1 %

NASDAQ:ACVA opened at $17.31 on Friday. The company has a fifty day moving average of $17.39 and a 200 day moving average of $15.45. ACV Auctions Inc. has a 52 week low of $11.58 and a 52 week high of $19.54. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $2.84 billion, a P/E ratio of -37.63 and a beta of 1.57.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $118.38 million during the quarter, compared to analyst estimates of $117.62 million. On average, research analysts predict that ACV Auctions Inc. will post -0.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $19.00 price objective on shares of ACV Auctions in a report on Wednesday. Northcoast Research upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Wednesday, January 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of ACV Auctions in a report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, ACV Auctions currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.21.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management bought a new position in ACV Auctions in the 2nd quarter worth $36,000. Park Place Capital Corp raised its holdings in ACV Auctions by 83.2% in the 3rd quarter. Park Place Capital Corp now owns 2,180 shares of the company’s stock worth $33,000 after purchasing an additional 990 shares in the last quarter. KBC Group NV bought a new position in ACV Auctions in the 4th quarter worth $43,000. Citigroup Inc. raised its holdings in ACV Auctions by 359.1% in the 1st quarter. Citigroup Inc. now owns 3,641 shares of the company’s stock worth $54,000 after purchasing an additional 2,848 shares in the last quarter. Finally, UBS Group AG raised its holdings in ACV Auctions by 47.5% in the 4th quarter. UBS Group AG now owns 3,725 shares of the company’s stock worth $31,000 after purchasing an additional 1,200 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors.

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.