Insider Selling: ACV Auctions Inc. (NASDAQ:ACVA) CFO Sells 32,500 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total transaction of $728,325.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares of the company’s stock, valued at $10,991,701.62. The trade was a 6.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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.
• On Tuesday, September 17th, William Zerella sold 76,856 shares of ACV Auctions stock. The stock was sold at an average price of $20.26, for a total transaction of $1,557,102.56.

ACV Auctions Trading Up 1.4 %

Shares of NASDAQ ACVA opened at $22.71 on Thursday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. ACV Auctions Inc. has a twelve month low of $12.84 and a twelve month high of $23.46. The company’s fifty day moving average is $19.60 and its 200-day moving average is $18.63. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of -48.32 and a beta of 1.59.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings 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 acquiring an additional 884 shares in the last quarter. MCF Advisors LLC grew its position in shares of ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after purchasing an additional 765 shares during the period. Park Place Capital Corp increased its stake in ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after purchasing an additional 706 shares in the last quarter. Amalgamated Bank raised its holdings in ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after buying an additional 782 shares during the period. Finally, Verdence Capital Advisors LLC bought a new position in ACV Auctions in the third quarter valued at approximately $206,000. 88.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ACVA shares. Jefferies Financial Group boosted their target price 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 $26.00 target price on shares of ACV Auctions in a research report on Tuesday. Barrington Research reiterated an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research report on Monday, November 4th. Piper Sandler increased their price objective on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Citigroup lifted their target price on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, ACV Auctions presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

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.