Michael Waterman Sells 15,000 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total value of $304,050.00. Following the completion of the sale, the insider now owns 311,354 shares in the company, valued at $6,311,145.58. This trade represents a 4.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, January 7th, Michael Waterman sold 30,162 shares of ACV Auctions stock. The shares were sold at an average price of $20.53, for a total value of $619,225.86.

ACV Auctions Stock Up 0.6 %

ACVA stock opened at $20.97 on Friday. The stock’s 50 day simple moving average is $21.44 and its 200 day simple moving average is $19.86. ACV Auctions Inc. has a fifty-two week low of $13.52 and a fifty-two 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 company has a market cap of $3.52 billion, a P/E ratio of -44.62 and a beta of 1.69.

Analyst Ratings Changes

ACVA has been the topic of a number of analyst reports. Jefferies Financial Group upped their price target on ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Citigroup upped their target price on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Barrington Research restated an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. Piper Sandler upped their target price on ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Stephens upgraded ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.65.

Institutional Trading of ACV Auctions

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vestmark Advisory Solutions Inc. raised its stake in shares of ACV Auctions by 21.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 26,006 shares of the company’s stock worth $562,000 after purchasing an additional 4,563 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of ACV Auctions in the fourth quarter worth approximately $4,704,000. Arizona State Retirement System raised its stake in shares of ACV Auctions by 3.6% in the fourth quarter. Arizona State Retirement System now owns 44,126 shares of the company’s stock worth $953,000 after purchasing an additional 1,520 shares during the last quarter. Atria Investments Inc purchased a new stake in shares of ACV Auctions in the fourth quarter worth approximately $333,000. Finally, Keybank National Association OH raised its stake in shares of ACV Auctions by 21.2% in the fourth quarter. Keybank National Association OH now owns 35,646 shares of the company’s stock worth $770,000 after purchasing an additional 6,241 shares during 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.