ACV Auctions Inc. (NASDAQ:ACVA) Insider Michael Waterman Sells 26,336 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 26,336 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $17.51, for a total transaction of $461,143.36. Following the completion of the transaction, the insider now directly owns 366,710 shares in the company, valued at approximately $6,421,092.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, May 29th, Michael Waterman sold 46,126 shares of ACV Auctions stock. The shares were sold at an average price of $18.00, for a total value of $830,268.00.

ACV Auctions Stock Up 1.0 %

NASDAQ:ACVA opened at $16.96 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -35.33 and a beta of 1.54. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $19.62. The stock has a 50-day simple moving average of $17.99 and a 200 day simple moving average of $16.82.

ACV Auctions (NASDAQ:ACVA) last released its earnings results on Wednesday, May 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). ACV Auctions had a negative return on equity of 13.50% and a negative net margin of 15.28%. The firm had revenue of $145.69 million for the quarter, compared to the consensus estimate of $144.14 million. Sell-side analysts predict that ACV Auctions Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACVA has been the topic of several analyst reports. Barrington Research reiterated an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a report on Monday, May 13th. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Monday, June 3rd. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of ACV Auctions in a research note on Wednesday. JPMorgan Chase & Co. raised shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price target on the stock in a research note on Monday, June 10th. Finally, Piper Sandler upped their price objective on shares of ACV Auctions from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.18.

Hedge Funds Weigh In On ACV Auctions

A number of hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. bought a new position in shares of ACV Auctions in the 1st quarter worth about $114,000. Penn Mutual Asset Management LLC bought a new position in ACV Auctions in the fourth quarter worth about $153,000. Blair William & Co. IL boosted its stake in ACV Auctions by 14.7% in the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after acquiring an additional 1,626 shares during the period. Ieq Capital LLC bought a new position in shares of ACV Auctions during the fourth quarter valued at approximately $249,000. Finally, ProShare Advisors LLC grew its holdings in shares of ACV Auctions by 8.5% during the first quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock valued at $429,000 after purchasing an additional 1,798 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

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.