ACV Auctions Inc. (NASDAQ:ACVA) Receives $23.80 Average PT from Analysts

Shares of ACV Auctions Inc. (NASDAQ:ACVA) have been given an average rating of “Moderate Buy” by the ten research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $23.80.

Several analysts have recently weighed in on ACVA shares. Needham & Company LLC restated a “buy” rating and set a $28.00 price target (up from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. Citigroup upped their price target on shares of ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. JMP Securities reiterated a “market outperform” rating and set a $25.00 price target on shares of ACV Auctions in a report on Monday, December 16th. Piper Sandler increased their price objective on ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a report on Monday, November 4th.

Insider Buying and Selling

In related news, CFO William Zerella sold 32,500 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $21.65, for a total transaction of $703,625.00. Following the transaction, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at $10,618,935.30. This represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Waterman sold 18,001 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $338,238.79. Following the completion of the sale, the insider now owns 337,190 shares of the company’s stock, valued at $6,335,800.10. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,501 shares of company stock valued at $2,380,864 over the last 90 days. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Park Place Capital Corp increased its holdings in shares of ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after acquiring an additional 706 shares in the last quarter. MCF Advisors LLC grew its position in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after purchasing an additional 765 shares during the period. Amalgamated Bank grew its position in ACV Auctions by 18.0% in the 2nd 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. Blue Trust Inc. increased its stake in ACV Auctions by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after purchasing an additional 884 shares in the last quarter. Finally, Icon Wealth Advisors LLC raised its holdings in ACV Auctions by 13.5% during the third quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company’s stock worth $225,000 after buying an additional 1,317 shares during the last quarter. 88.55% of the stock is owned by institutional investors and hedge funds.

ACV Auctions Stock Up 0.4 %

Shares of ACVA opened at $21.02 on Friday. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -44.72 and a beta of 1.70. ACV Auctions has a 52 week low of $12.84 and a 52 week high of $23.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a fifty day moving average of $20.93 and a 200-day moving average of $19.32.

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.