JMP Securities Reaffirms “Market Outperform” Rating for ACV Auctions (NASDAQ:ACVA)

ACV Auctions (NASDAQ:ACVA)‘s stock had its “market outperform” rating reaffirmed by analysts at JMP Securities in a note issued to investors on Monday,Benzinga reports. They presently have a $25.00 target price on the stock. JMP Securities’ target price indicates a potential upside of 18.60% from the stock’s previous close.

A number of other research analysts have also commented on ACVA. B. Riley upped their price target on ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Barrington Research reissued an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. Jefferies Financial Group raised 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. Piper Sandler increased their target price on ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Raymond James began coverage on ACV Auctions in a research note on Friday, September 27th. They set a “market perform” rating and a $22.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.60.

ACV Auctions Price Performance

Shares of NASDAQ:ACVA opened at $21.08 on Monday. The business has a 50-day moving average of $20.17 and a two-hundred day moving average of $19.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 1.51. ACV Auctions has a fifty-two week low of $12.84 and a fifty-two week high of $23.46. The stock has a market capitalization of $3.53 billion, a P/E ratio of -44.85 and a beta of 1.70.

Insider Buying and Selling at ACV Auctions

In related news, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total transaction of $610,675.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares of the company’s stock, valued at approximately $9,216,156.78. The trade was a 6.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Andrew Peer sold 1,795 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 62,956 shares in the company, valued at approximately $1,322,076. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,894 shares of company stock valued at $2,036,089. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in ACV Auctions by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after purchasing an additional 884 shares in the last quarter. MCF Advisors LLC raised its position in shares of ACV Auctions by 107.0% during the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after acquiring an additional 765 shares during the last quarter. Park Place Capital Corp raised its holdings 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 during the last quarter. Amalgamated Bank boosted its position in ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after acquiring an additional 782 shares during the last quarter. Finally, Verdence Capital Advisors LLC acquired a new stake in ACV Auctions during the third quarter worth approximately $206,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

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.