B. Riley Issues Positive Forecast for ACV Auctions (NASDAQ:ACVA) Stock Price

ACV Auctions (NASDAQ:ACVA) had its price target boosted by B. Riley from $24.00 to $27.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on ACVA. Barrington Research reaffirmed an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Monday, November 4th. Jefferies Financial Group boosted their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price target on shares of ACV Auctions in a research note on Tuesday. Raymond James started coverage on shares of ACV Auctions in a research note on Friday, September 27th. They issued a “market perform” rating and a $22.00 price target for the company. Finally, JMP Securities boosted their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, ACV Auctions currently has an average rating of “Moderate Buy” and an average target price of $23.11.

ACV Auctions Stock Performance

NASDAQ ACVA opened at $22.39 on Tuesday. The company’s 50 day moving average is $19.56 and its 200-day moving average is $18.60. ACV Auctions has a 12-month low of $12.84 and a 12-month high of $23.46. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The firm has a market cap of $3.75 billion, a P/E ratio of -47.64 and a beta of 1.59.

Insider Activity at ACV Auctions

In other news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total transaction of $610,675.00. Following the sale, the chief financial officer now owns 490,482 shares of the company’s stock, valued at $9,216,156.78. This trade represents a 6.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Andrew Peer sold 1,795 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $21.00, for a total transaction of $37,695.00. Following the sale, the vice president now directly owns 62,956 shares in the company, valued at approximately $1,322,076. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 493,437 shares of company stock valued at $9,751,672. 8.50% of the stock is owned by insiders.

Hedge Funds Weigh In On ACV Auctions

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. raised 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 worth $29,000 after acquiring an additional 884 shares during the period. MCF Advisors LLC raised its stake in ACV Auctions by 107.0% during the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after acquiring an additional 765 shares during the period. Park Place Capital Corp raised its stake in ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after acquiring an additional 706 shares during the period. Amalgamated Bank raised its position in shares of ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after buying an additional 782 shares during the last quarter. Finally, Verdence Capital Advisors LLC bought a new stake in shares of ACV Auctions during the third quarter valued at approximately $206,000. Institutional investors own 88.55% of the company’s stock.

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.