Vikas Mehta Sells 154,324 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) COO Vikas Mehta sold 154,324 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $19.19, for a total value of $2,961,477.56. Following the transaction, the chief operating officer now directly owns 432,457 shares in the company, valued at $8,298,849.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Vikas Mehta also recently made the following trade(s):

• On Monday, August 26th, Vikas Mehta sold 8,395 shares of ACV Auctions stock. The stock was sold at an average price of $19.21, for a total value of $161,267.95.
• On Friday, August 23rd, Vikas Mehta sold 145,928 shares of ACV Auctions stock. The shares were sold at an average price of $18.71, for a total transaction of $2,730,312.88.

ACV Auctions Price Performance

NASDAQ ACVA opened at $19.87 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $20.79. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of -41.40 and a beta of 1.55. The company’s 50 day moving average is $18.03 and its two-hundred day moving average is $18.04.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. The firm had revenue of $160.62 million for the quarter, compared to the consensus estimate of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. As a group, research analysts anticipate that ACV Auctions Inc. will post -0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ACVA. Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Monday, June 3rd. JPMorgan Chase & Co. raised ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price target on the stock in a report on Monday, June 10th. Barrington Research restated an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research note on Friday, August 16th. Finally, JMP Securities reissued a “market outperform” rating and set a $21.00 price objective on shares of ACV Auctions in a research report on Monday, September 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Hedge Funds Weigh In On ACV Auctions

A number of hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in ACV Auctions by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,044,415 shares of the company’s stock worth $15,823,000 after purchasing an additional 18,626 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ACV Auctions by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,846,726 shares of the company’s stock worth $27,979,000 after acquiring an additional 329,854 shares during the last quarter. Ieq Capital LLC purchased a new position in ACV Auctions during the fourth quarter valued at $249,000. FineMark National Bank & Trust purchased a new position in ACV Auctions during the fourth quarter valued at $381,000. Finally, Axiom Investors LLC DE increased its holdings in ACV Auctions by 172.5% in the 4th quarter. Axiom Investors LLC DE now owns 364,280 shares of the company’s stock valued at $5,519,000 after acquiring an additional 230,580 shares during the last quarter. 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.