ACV Auctions (NASDAQ:ACVA) Shares Gap Up After Insider Buying Activity

ACV Auctions Inc. (NASDAQ:ACVA) gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $5.49, but opened at $5.90. ACV Auctions shares last traded at $6.0910, with a volume of 1,451,050 shares trading hands.

Specifically, Director Robert P. Goodman acquired 912,408 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average price of $5.61 per share, for a total transaction of $5,118,608.88. Following the completion of the acquisition, the director owned 912,408 shares of the company’s stock, valued at approximately $5,118,608.88. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ACVA shares. Jefferies Financial Group reduced their price target on shares of ACV Auctions from $22.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, October 17th. JPMorgan Chase & Co. reduced their price objective on ACV Auctions from $18.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Bank of America reaffirmed an “underperform” rating and set a $6.00 price target (down previously from $16.50) on shares of ACV Auctions in a research report on Thursday, November 6th. The Goldman Sachs Group lowered their price objective on ACV Auctions from $21.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, Citigroup cut their target price on shares of ACV Auctions from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.95.

ACV Auctions Trading Up 11.6%

The company has a market cap of $1.05 billion, a P/E ratio of -12.50 and a beta of 1.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. The stock’s 50-day moving average is $9.26 and its two-hundred day moving average is $12.97.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $199.56 million during the quarter, compared to the consensus estimate of $200.26 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%.The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 EPS. ACV Auctions has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities research analysts predict that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ACV Auctions

A number of large investors have recently modified their holdings of ACVA. Aster Capital Management DIFC Ltd boosted its holdings in ACV Auctions by 298.4% in the third quarter. Aster Capital Management DIFC Ltd now owns 3,323 shares of the company’s stock valued at $33,000 after purchasing an additional 2,489 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of ACV Auctions in the first quarter valued at approximately $35,000. Covestor Ltd raised its position in ACV Auctions by 39.9% during the third quarter. Covestor Ltd now owns 5,785 shares of the company’s stock worth $57,000 after acquiring an additional 1,649 shares during the period. CWM LLC boosted its holdings in ACV Auctions by 77.4% in the 2nd quarter. CWM LLC now owns 4,642 shares of the company’s stock worth $75,000 after buying an additional 2,026 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of ACV Auctions in the second quarter worth approximately $87,000. 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.