ACV Auctions (NASDAQ:ACVA) Price Target Increased to $25.00 by Analysts at Jefferies Financial Group

ACV Auctions (NASDAQ:ACVA) had its target price upped by analysts at Jefferies Financial Group from $22.00 to $25.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 34.48% from the stock’s current price.

Several other analysts have also issued reports on the stock. Raymond James began coverage on shares of ACV Auctions in a research note on Friday, September 27th. They issued a “market perform” rating and a $22.00 target price for the company. JMP Securities increased their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 17th. Finally, Barrington Research restated an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

ACV Auctions Stock Performance

NASDAQ ACVA opened at $18.59 on Tuesday. ACV Auctions has a 1 year low of $12.84 and a 1 year high of $21.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -38.73 and a beta of 1.56. The company has a fifty day moving average price of $19.21 and a 200-day moving average price of $18.29.

ACV Auctions (NASDAQ:ACVA) last posted its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $160.62 million during the quarter, compared to analyst estimates of $156.33 million. As a group, equities research analysts predict that ACV Auctions will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, COO Vikas Mehta sold 154,324 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 432,457 shares of the company’s stock, valued at $8,298,849.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other ACV Auctions news, COO Vikas Mehta sold 154,324 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 432,457 shares of the company’s stock, valued at $8,298,849.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $15.19, for a total transaction of $493,675.00. Following the sale, the chief financial officer now directly owns 503,077 shares in the company, valued at approximately $7,641,739.63. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 741,926 shares of company stock valued at $14,285,765 over the last three months. 8.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACV Auctions

Several institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of ACV Auctions by 23.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 578,266 shares of the company’s stock worth $11,756,000 after buying an additional 108,861 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after buying an additional 884 shares in the last quarter. Creative Planning lifted its holdings in shares of ACV Auctions by 129.4% in the third quarter. Creative Planning now owns 27,935 shares of the company’s stock worth $568,000 after buying an additional 15,758 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of ACV Auctions in the third quarter worth about $2,915,000. Finally, Park Place Capital Corp lifted its holdings in shares of ACV Auctions by 34.1% in 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. 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.