ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella Sells 15,000 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $13.53, for a total value of $202,950.00. Following the completion of the sale, the chief financial officer now directly owns 766,266 shares in the company, valued at approximately $10,367,578.98. The trade was a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

William Zerella also recently made the following trade(s):

• On Tuesday, January 7th, William Zerella sold 15,000 shares of ACV Auctions stock. The stock was sold at an average price of $20.57, for a total value of $308,550.00.
• On Monday, December 30th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $21.65, for a total value of $703,625.00.

ACV Auctions Trading Down 2.0 %

Shares of NASDAQ:ACVA opened at $14.00 on Friday. ACV Auctions Inc. has a 1 year low of $12.77 and a 1 year high of $23.46. The firm has a fifty day moving average price of $19.39 and a 200 day moving average price of $19.86. The stock has a market capitalization of $2.36 billion, a PE ratio of -28.57 and a beta of 1.73. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of ACV Auctions by 65.8% in the fourth quarter. Blue Trust Inc. now owns 2,352 shares of the company’s stock valued at $48,000 after purchasing an additional 933 shares during the last quarter. KBC Group NV grew its holdings in ACV Auctions by 80.4% in the 4th quarter. KBC Group NV now owns 7,406 shares of the company’s stock valued at $160,000 after buying an additional 3,300 shares during the last quarter. Integrated Advisors Network LLC bought a new position in ACV Auctions in the 4th quarter worth approximately $200,000. Mackenzie Financial Corp bought a new position in ACV Auctions in the 4th quarter worth approximately $206,000. Finally, Verdence Capital Advisors LLC bought a new stake in shares of ACV Auctions in the third quarter valued at approximately $206,000. Institutional investors own 88.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ACVA shares. JMP Securities reissued a “market outperform” rating and set a $25.00 price objective on shares of ACV Auctions in a research report on Monday, December 16th. Citigroup upped their price target on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of ACV Auctions in a research report on Wednesday. Stephens raised shares of ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Finally, Bank of America upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and reduced their target price for the company from $22.00 to $20.00 in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.05.

About ACV Auctions

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.