ACV Auctions Inc. (NASDAQ:ACVA) CEO Sells $5,342,139.66 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CEO George Chamoun sold 348,249 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $15.34, for a total value of $5,342,139.66. Following the completion of the transaction, the chief executive officer now directly owns 2,821,193 shares in the company, valued at approximately $43,277,100.62. This represents a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

ACV Auctions Trading Down 2.4 %

Shares of ACVA stock opened at $15.31 on Monday. ACV Auctions Inc. has a 12-month low of $12.77 and a 12-month high of $23.46. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average price is $18.65 and its 200-day moving average price is $19.72. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -31.24 and a beta of 1.73.

ACV Auctions (NASDAQ:ACVA) last issued its earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. The firm had revenue of $159.51 million for the quarter, compared to analysts’ expectations of $156.77 million. Equities research analysts predict that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 target price on shares of ACV Auctions in a report on Monday, December 16th. B. Riley raised their price target on ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stephens raised ACV Auctions to a “hold” rating in a report on Saturday, February 1st. Piper Sandler raised ACV Auctions from a “neutral” rating to an “overweight” rating and raised their price target for the company from $18.00 to $20.00 in a report on Thursday. Finally, Citigroup raised their price target on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in ACV Auctions by 65.8% in the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock worth $48,000 after acquiring an additional 933 shares in the last quarter. KBC Group NV grew its position in ACV Auctions by 80.4% in 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 in the last quarter. Integrated Advisors Network LLC purchased a new position in ACV Auctions in the fourth quarter worth about $200,000. Mackenzie Financial Corp purchased a new position in ACV Auctions in the fourth quarter worth about $206,000. Finally, Icon Wealth Advisors LLC grew its position in ACV Auctions by 13.5% in the third quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company’s stock worth $225,000 after acquiring an additional 1,317 shares in the last quarter. 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.