Insider Selling: ACV Auctions Inc. (NASDAQ:ACVA) Insider Sells 30,162 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 30,162 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total transaction of $619,225.86. Following the transaction, the insider now owns 314,738 shares of the company’s stock, valued at approximately $6,461,571.14. This represents a 8.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Michael Waterman also recently made the following trade(s):

• On Tuesday, October 15th, Michael Waterman sold 18,001 shares of ACV Auctions stock. The stock was sold at an average price of $18.79, for a total transaction of $338,238.79.

ACV Auctions Stock Performance

ACV Auctions stock traded down $0.39 during midday trading on Friday, reaching $20.75. 1,313,075 shares of the company’s stock were exchanged, compared to its average volume of 1,109,358. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. The stock’s 50-day simple moving average is $21.19 and its 200 day simple moving average is $19.40. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -44.15 and a beta of 1.69. ACV Auctions Inc. has a 52 week low of $12.84 and a 52 week high of $23.46.

Wall Street Analysts Forecast Growth

ACVA has been the topic of several research analyst reports. Piper Sandler raised their price objective on ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. B. Riley boosted their price objective on ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Raymond James started coverage on shares of ACV Auctions in a report on Friday, September 27th. They set a “market perform” rating and a $22.00 target price on the stock. Jefferies Financial Group upped their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 price objective (up from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.80.

Hedge Funds Weigh In On ACV Auctions

Institutional investors and hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in shares of ACV Auctions by 11.6% in the third 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 period. William Blair Investment Management LLC grew its position in shares of ACV Auctions by 4.1% during the 2nd quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock worth $91,499,000 after purchasing an additional 198,228 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of ACV Auctions by 6.8% during the third quarter. Jennison Associates LLC now owns 4,247,932 shares of the company’s stock worth $86,360,000 after purchasing an additional 271,970 shares during the period. Geode Capital Management LLC raised its position in shares of ACV Auctions by 2.0% in the third quarter. Geode Capital Management LLC now owns 3,517,088 shares of the company’s stock valued at $71,516,000 after buying an additional 67,969 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of ACV Auctions by 3.7% in the third quarter. State Street Corp now owns 3,242,388 shares of the company’s stock valued at $65,918,000 after buying an additional 115,700 shares during the period. Institutional investors and hedge funds 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.