ACV Auctions Inc. (NASDAQ:ACVA) Receives $23.80 Consensus Target Price from Brokerages

ACV Auctions Inc. (NASDAQ:ACVA) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $23.80.

A number of brokerages recently commented on ACVA. Jefferies Financial Group lifted their price target on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Citigroup lifted their target price on ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target (up from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. B. Riley raised their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $25.00 target price on shares of ACV Auctions in a research note on Monday, December 16th.

Insider Activity

In other ACV Auctions news, insider Michael Waterman sold 18,001 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total value of $338,238.79. Following the sale, the insider now directly owns 337,190 shares in the company, valued at $6,335,800.10. This represents a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total transaction of $728,325.00. Following the transaction, the chief financial officer now owns 490,482 shares of the company’s stock, valued at $10,991,701.62. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,501 shares of company stock worth $2,380,864. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of ACV Auctions

Large investors have recently modified their holdings of the business. Blue Trust Inc. increased its position in shares of ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after purchasing an additional 884 shares during the last quarter. MCF Advisors LLC grew its stake in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after buying an additional 765 shares in the last quarter. Park Place Capital Corp increased its holdings in shares of ACV Auctions by 34.1% in the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after buying an additional 706 shares during the last quarter. Amalgamated Bank raised its position in shares of ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after buying an additional 782 shares in the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of ACV Auctions during the 3rd quarter valued at $206,000. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Trading Down 1.4 %

NASDAQ:ACVA opened at $21.60 on Friday. ACV Auctions has a 52 week low of $12.84 and a 52 week high of $23.46. The firm has a 50-day moving average price of $20.66 and a two-hundred day moving average price of $19.23. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of -45.96 and a beta of 1.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51.

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.