JPMorgan Chase & Co. Lowers ACV Auctions (NASDAQ:ACVA) Price Target to $20.00

ACV Auctions (NASDAQ:ACVA) had its price target dropped by research analysts at JPMorgan Chase & Co. from $24.00 to $20.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 37.19% from the company’s previous close.

Other analysts also recently issued research reports about the company. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price objective on shares of ACV Auctions in a research note on Monday, December 16th. Stephens raised ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Piper Sandler upgraded ACV Auctions from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $18.00 to $20.00 in a report on Thursday, March 20th. Bank of America raised ACV Auctions from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $22.00 to $20.00 in a research note on Wednesday, March 12th. Finally, Citigroup upped their price target on ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, ACV Auctions presently has a consensus rating of “Moderate Buy” and an average price target of $23.14.

ACV Auctions Trading Down 4.6 %

NASDAQ:ACVA traded down $0.70 during mid-day trading on Thursday, hitting $14.58. The company had a trading volume of 1,387,947 shares, compared to its average volume of 1,403,377. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. ACV Auctions has a fifty-two week low of $12.77 and a fifty-two week high of $23.46. The firm has a market cap of $2.46 billion, a P/E ratio of -29.77 and a beta of 1.73. The business’s fifty day moving average is $18.34 and its two-hundred day moving average is $19.66.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The business had revenue of $159.51 million for the quarter, compared to the consensus estimate of $156.77 million. As a group, research analysts expect that ACV Auctions will post -0.07 earnings per share for the current year.

Insider Buying and Selling at ACV Auctions

In other news, CEO George Chamoun sold 348,249 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $15.34, for a total transaction of $5,342,139.66. Following the completion of the sale, the chief executive officer now owns 2,821,193 shares in the company, valued at approximately $43,277,100.62. This trade represents a 10.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $21.65, for a total transaction of $703,625.00. Following the completion of the transaction, the chief financial officer now owns 490,482 shares in the company, valued at approximately $10,618,935.30. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 455,911 shares of company stock valued at $7,480,541 in the last quarter. 8.50% of the stock is currently owned by insiders.

Institutional Trading of ACV Auctions

Several institutional investors have recently added to or reduced their stakes in ACVA. Blue Trust Inc. lifted its holdings in shares of ACV Auctions by 65.8% during the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock worth $48,000 after buying an additional 933 shares in the last quarter. KBC Group NV increased its position in ACV Auctions by 80.4% during the fourth quarter. KBC Group NV now owns 7,406 shares of the company’s stock worth $160,000 after acquiring an additional 3,300 shares during the period. Integrated Advisors Network LLC acquired a new stake in ACV Auctions in the 4th quarter worth about $200,000. Mackenzie Financial Corp bought a new position in shares of ACV Auctions during the fourth quarter worth approximately $206,000. Finally, Icon Wealth Advisors LLC increased its holdings in shares of ACV Auctions by 13.5% during the third quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company’s stock worth $225,000 after purchasing an additional 1,317 shares during the period. 88.55% of the stock is currently owned by institutional investors.

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.