Piper Sandler Forecasts Strong Price Appreciation for ACV Auctions (NASDAQ:ACVA) Stock

ACV Auctions (NASDAQ:ACVA) had its target price boosted by Piper Sandler from $16.00 to $18.00 in a research report released on Friday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other analysts also recently issued reports about the company. Barrington Research reissued an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a research note on Monday, November 4th. Jefferies Financial Group upped their target price on ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Raymond James initiated coverage on ACV Auctions in a report on Friday, September 27th. They set a “market perform” rating and a $22.00 price target on the stock. Finally, JMP Securities upped their price objective on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.63.

ACV Auctions Price Performance

Shares of NASDAQ:ACVA opened at $20.13 on Friday. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -41.94 and a beta of 1.59. The stock’s 50 day moving average is $19.06 and its 200-day moving average is $18.31. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.24. ACV Auctions has a twelve month low of $12.84 and a twelve month high of $21.22.

Insider Buying and Selling

In other news, VP Andrew Peer sold 1,795 shares of ACV Auctions stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the transaction, the vice president now owns 62,956 shares in the company, valued at $1,322,076. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other ACV Auctions news, VP Andrew Peer sold 1,795 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total transaction of $37,695.00. Following the sale, the vice president now owns 62,956 shares in the company, valued at $1,322,076. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO George Chamoun sold 111,363 shares of ACV Auctions stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $20.27, for a total value of $2,257,328.01. Following the completion of the transaction, the chief executive officer now owns 928,166 shares of the company’s stock, valued at approximately $18,813,924.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 709,426 shares of company stock valued at $13,792,090. 8.50% of the stock is owned by insiders.

Institutional Investors Weigh In On ACV Auctions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Park Place Capital Corp grew its stake in ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after acquiring an additional 706 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of ACV Auctions by 107.0% in the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after purchasing an additional 765 shares during the period. Amalgamated Bank raised its position in shares of ACV Auctions by 18.0% in the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after buying an additional 782 shares in the last quarter. Blue Trust Inc. boosted its stake in ACV Auctions by 165.2% during the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after buying an additional 884 shares during the period. Finally, Blair William & Co. IL boosted its stake in ACV Auctions by 14.7% during the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after buying an additional 1,626 shares during the period. 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.