ACV Auctions Inc. (NASDAQ:ACVA) Insider Craig Eric Anderson Sells 7,500 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVAGet Free Report) insider Craig Eric Anderson sold 7,500 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $18.50, for a total value of $138,750.00. Following the completion of the transaction, the insider now directly owns 194,525 shares in the company, valued at $3,598,712.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Craig Eric Anderson also recently made the following trade(s):

  • On Thursday, March 28th, Craig Eric Anderson sold 5,000 shares of ACV Auctions stock. The stock was sold at an average price of $19.07, for a total value of $95,350.00.
  • On Wednesday, February 28th, Craig Eric Anderson sold 5,000 shares of ACV Auctions stock. The stock was sold at an average price of $18.00, for a total value of $90,000.00.

ACV Auctions Price Performance

Shares of ACVA stock opened at $18.24 on Friday. The stock has a 50 day moving average of $17.00 and a two-hundred day moving average of $15.35. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.25. ACV Auctions Inc. has a 12 month low of $11.58 and a 12 month high of $19.54. The company has a market capitalization of $2.99 billion, a P/E ratio of -39.65 and a beta of 1.57.

ACV Auctions (NASDAQ:ACVAGet Free Report) last posted its earnings results on Wednesday, February 21st. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. The business had revenue of $118.38 million during the quarter, compared to the consensus estimate of $117.62 million. ACV Auctions had a negative return on equity of 13.97% and a negative net margin of 15.64%. As a group, equities analysts expect that ACV Auctions Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On ACV Auctions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of ACV Auctions by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company’s stock worth $194,445,000 after buying an additional 1,010,941 shares during the period. Loomis Sayles & Co. L P bought a new position in shares of ACV Auctions during the 3rd quarter worth approximately $32,611,000. Deepwater Asset Management LLC lifted its position in shares of ACV Auctions by 20.1% during the 4th quarter. Deepwater Asset Management LLC now owns 851,819 shares of the company’s stock worth $12,905,000 after buying an additional 142,296 shares during the period. William Blair Investment Management LLC lifted its position in shares of ACV Auctions by 8.7% during the 3rd quarter. William Blair Investment Management LLC now owns 4,369,867 shares of the company’s stock worth $66,335,000 after buying an additional 350,865 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in ACV Auctions by 8.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,705,720 shares of the company’s stock valued at $25,893,000 after purchasing an additional 134,587 shares during the last quarter. Institutional investors own 88.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ACVA shares. Northcoast Research raised ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, January 10th. JMP Securities dropped their target price on ACV Auctions from $20.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Tuesday, January 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.21.

Read Our Latest Stock Analysis on ACVA

About ACV Auctions

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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.

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Insider Buying and Selling by Quarter for ACV Auctions (NASDAQ:ACVA)

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