ACV Auctions Inc. (NASDAQ:ACVA) Insider Michael Waterman Sells 75,000 Shares

ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) insider Michael Waterman sold 75,000 shares of ACV Auctions stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $20.24, for a total transaction of $1,518,000.00. Following the completion of the sale, the insider now directly owns 366,710 shares of the company's stock, valued at approximately $7,422,210.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Michael Waterman also recently made the following trade(s):

• On Tuesday, July 9th, Michael Waterman sold 26,336 shares of ACV Auctions stock. The shares were sold at an average price of $17.51, for a total transaction of $461,143.36.

ACV Auctions Trading Up 2.1 %

ACVA stock traded up $0.42 during trading on Thursday, reaching $20.67. 1,463,825 shares of the stock were exchanged, compared to its average volume of 1,230,036. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -43.13 and a beta of 1.55. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $18.20 and a 200-day moving average price of $18.09. ACV Auctions Inc. has a 1 year low of $12.84 and a 1 year high of $21.01.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.02. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. The company had revenue of $160.62 million for the quarter, compared to analyst estimates of $156.33 million. On average, research analysts predict that ACV Auctions Inc. will post -0.36 earnings per share for the current year.

Analyst Ratings Changes

ACVA has been the subject of a number of recent analyst reports. Barrington Research reaffirmed an "outperform" rating and issued a $23.00 price objective on shares of ACV Auctions in a research note on Friday, August 16th. Needham & Company LLC reissued a "buy" rating and set a $23.00 price target on shares of ACV Auctions in a research note on Monday, June 3rd. JMP Securities boosted their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the company a "market outperform" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. raised shares of ACV Auctions from a "neutral" rating to an "overweight" rating and set a $21.00 price target on the stock in a report on Monday, June 10th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.50.

Check Out Our Latest Stock Report on ACV Auctions

Institutional Trading of ACV Auctions

Several institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank increased its holdings in shares of ACV Auctions by 18.0% in the second quarter. Amalgamated Bank now owns 5,120 shares of the company's stock valued at $93,000 after purchasing an additional 782 shares during the period. UMB Bank n.a. purchased a new position in ACV Auctions during the 1st quarter valued at about $114,000. Penn Mutual Asset Management LLC purchased a new stake in ACV Auctions in the 4th quarter valued at approximately $153,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of ACV Auctions during the 2nd quarter worth about $225,000. Finally, Blair William & Co. IL grew its position in shares of ACV Auctions by 14.7% in the first quarter. Blair William & Co. IL now owns 12,691 shares of the company's stock valued at $238,000 after purchasing an additional 1,626 shares during the period. 88.55% of the stock is owned by hedge funds and other institutional investors.

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.

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