Brokerages Set ACV Auctions Inc. (NASDAQ:ACVA) Target Price at $23.65

ACV Auctions Inc. (NASDAQ:ACVA) has received an average rating of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $23.65.

Several research analysts have recently commented on the company. B. Riley lifted their target price on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Jefferies Financial Group upped their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Stephens initiated coverage on shares of ACV Auctions in a research note on Wednesday. They set an “equal weight” rating and a $20.50 target price for the company. Barrington Research reiterated an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Monday, November 4th. Finally, Citigroup increased their price target on shares of ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, November 27th.

Insider Activity at ACV Auctions

In other news, insider Michael Waterman sold 30,162 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total value of $619,225.86. Following the completion of the transaction, the insider now directly owns 314,738 shares in the company, valued at approximately $6,461,571.14. The trade was a 8.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William Zerella sold 32,500 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $21.65, for a total transaction of $703,625.00. Following the sale, the chief financial officer now owns 490,482 shares in the company, valued at $10,618,935.30. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,162 shares of company stock worth $2,359,726. Company insiders own 8.50% of the company’s stock.

Institutional Trading of ACV Auctions

Several large investors have recently bought and sold shares of ACVA. Moody National Bank Trust Division lifted its holdings in shares of ACV Auctions by 64.6% in the fourth quarter. Moody National Bank Trust Division now owns 79,199 shares of the company’s stock worth $1,711,000 after acquiring an additional 31,094 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in ACV Auctions in the third quarter valued at approximately $566,000. JPMorgan Chase & Co. grew its stake in shares of ACV Auctions by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 3,167,615 shares of the company’s stock worth $64,398,000 after buying an additional 311,465 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of ACV Auctions during the third quarter worth $2,035,000. Finally, State Street Corp lifted its stake in shares of ACV Auctions by 3.7% in the 3rd quarter. State Street Corp now owns 3,242,388 shares of the company’s stock valued at $65,918,000 after acquiring an additional 115,700 shares during the last quarter. 88.55% of the stock is owned by institutional investors and hedge funds.

ACV Auctions Trading Down 3.2 %

ACV Auctions stock opened at $21.39 on Thursday. The stock has a 50-day simple moving average of $21.62 and a 200 day simple moving average of $19.68. The stock has a market capitalization of $3.59 billion, a P/E ratio of -45.51 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. ACV Auctions has a 52 week low of $12.84 and a 52 week high of $23.46.

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.