ACV Auctions Inc. (NASDAQ:ACVA) Given Average Rating of “Moderate Buy” by Analysts

Shares of ACV Auctions Inc. (NASDAQ:ACVA) have been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.14.

A number of research analysts recently weighed in on ACVA shares. Stephens raised ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of ACV Auctions in a research note on Wednesday, March 12th. Bank of America upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, March 12th. 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. Finally, JPMorgan Chase & Co. cut their price target on shares of ACV Auctions from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th.

ACV Auctions Stock Up 0.5 %

Shares of ACV Auctions stock opened at $13.38 on Tuesday. ACV Auctions has a 1 year low of $11.88 and a 1 year high of $23.46. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -27.30 and a beta of 1.74. The company has a 50-day moving average of $17.15 and a 200 day moving average of $19.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56.

ACV Auctions (NASDAQ:ACVA) last announced its earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The business had revenue of $159.51 million during the quarter, compared to the consensus estimate of $156.77 million. As a group, sell-side analysts anticipate that ACV Auctions will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, insider Michael Waterman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.27, for a total value of $304,050.00. Following the transaction, the insider now directly owns 311,354 shares of the company’s stock, valued at approximately $6,311,145.58. This trade represents a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO George Chamoun sold 348,249 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $15.34, for a total transaction of $5,342,139.66. Following the sale, the chief executive officer now directly owns 2,821,193 shares of the company’s stock, valued at $43,277,100.62. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 378,249 shares of company stock worth $5,849,140. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ACVA. GAMMA Investing LLC increased its stake in shares of ACV Auctions by 3,005.8% in the 1st quarter. GAMMA Investing LLC now owns 5,932 shares of the company’s stock worth $84,000 after purchasing an additional 5,741 shares in the last quarter. Moody National Bank Trust Division increased its position in ACV Auctions by 8.3% in the first quarter. Moody National Bank Trust Division now owns 85,805 shares of the company’s stock worth $1,209,000 after buying an additional 6,606 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of ACV Auctions by 464.4% in the first quarter. Versant Capital Management Inc now owns 2,201 shares of the company’s stock worth $31,000 after buying an additional 1,811 shares during the period. Wellington Management Group LLP lifted its position in shares of ACV Auctions by 61.3% during the 4th quarter. Wellington Management Group LLP now owns 1,708,551 shares of the company’s stock valued at $36,905,000 after buying an additional 649,039 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of ACV Auctions by 1.4% during the 4th quarter. California State Teachers Retirement System now owns 141,873 shares of the company’s stock valued at $3,064,000 after acquiring an additional 1,906 shares during the period. 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.