B. Riley Forecasts Strong Price Appreciation for ACV Auctions (NASDAQ:ACVA) Stock

ACV Auctions (NASDAQ:ACVA) had its target price boosted by B. Riley from $24.00 to $27.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. JMP Securities boosted their target price on shares of ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Tuesday, September 17th. Piper Sandler boosted their price objective on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Raymond James assumed coverage on ACV Auctions in a report on Friday, September 27th. They set a “market perform” rating and a $22.00 price objective for the company. Barrington Research reissued an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research report on Monday, November 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $26.00 price target on shares of ACV Auctions in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

ACV Auctions Stock Up 1.4 %

ACVA opened at $22.71 on Tuesday. ACV Auctions has a 12 month low of $12.84 and a 12 month high of $23.46. The business has a 50-day moving average of $19.65 and a two-hundred day moving average of $18.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -48.32 and a beta of 1.59.

Insider Activity at ACV Auctions

In other ACV Auctions news, VP Andrew Peer sold 1,795 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the transaction, the vice president now owns 62,956 shares in the company, valued at $1,322,076. This represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Vikas Mehta sold 154,324 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $19.19, for a total transaction of $2,961,477.56. Following the completion of the sale, the chief operating officer now directly owns 432,457 shares of the company’s stock, valued at $8,298,849.83. This trade represents a 26.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 525,937 shares of company stock worth $10,479,997. Corporate insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On ACV Auctions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in ACV Auctions by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after purchasing an additional 884 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of ACV Auctions by 107.0% during the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after buying an additional 765 shares during the last quarter. Park Place Capital Corp grew its position in shares of ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after buying an additional 706 shares in the last quarter. Amalgamated Bank grew its position in shares of ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after buying an additional 782 shares in the last quarter. Finally, Verdence Capital Advisors LLC bought a new stake in shares of ACV Auctions in the third quarter worth $206,000. Hedge funds and other 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.