ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella Sells 32,500 Shares

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $21.65, for a total value of $703,625.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at $10,618,935.30. This represents a 6.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

William Zerella also recently made the following trade(s):

• On Tuesday, November 26th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $22.41, for a total value of $728,325.00.
• On Tuesday, October 15th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $18.79, for a total transaction of $610,675.00.

ACV Auctions Stock Down 1.4 %

Shares of NASDAQ ACVA opened at $21.60 on Wednesday. The stock has a market capitalization of $3.62 billion, a P/E ratio of -45.96 and a beta of 1.70. The stock’s fifty day moving average is $20.66 and its 200 day moving average is $19.23. ACV Auctions Inc. has a 52 week low of $12.84 and a 52 week high of $23.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler lifted their target price on ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Raymond James began coverage on ACV Auctions in a research note on Friday, September 27th. They issued a “market perform” rating and a $22.00 price objective on the stock. Jefferies Financial Group raised their price target on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC restated a “buy” rating and set a $28.00 target price (up from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. Finally, JMP Securities reissued a “market outperform” rating and issued a $25.00 price objective on shares of ACV Auctions in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in shares of ACV Auctions by 217.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,391,070 shares of the company’s stock valued at $25,387,000 after buying an additional 952,929 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ACV Auctions by 21.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,478 shares of the company’s stock valued at $483,000 after purchasing an additional 4,752 shares during the last quarter. Principal Financial Group Inc. increased its holdings in ACV Auctions by 33.1% during the 2nd quarter. Principal Financial Group Inc. now owns 61,903 shares of the company’s stock worth $1,130,000 after purchasing an additional 15,390 shares in the last quarter. Rhumbline Advisers raised its stake in shares of ACV Auctions by 17.0% in the second quarter. Rhumbline Advisers now owns 209,976 shares of the company’s stock worth $3,832,000 after purchasing an additional 30,450 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in ACV Auctions by 10.4% during the 2nd quarter. Arizona State Retirement System now owns 41,303 shares of the company’s stock worth $754,000 after acquiring an additional 3,881 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.