Research Analysts’ Recent Ratings Updates for ACV Auctions (ACVA)

A number of firms have modified their ratings and price targets on shares of ACV Auctions (NASDAQ: ACVA) recently:

• 5/17/2023 – ACV Auctions had its price target raised by analysts at Barrington Research from $14.00 to $18.00.
• 5/15/2023 – ACV Auctions had its price target raised by analysts at Guggenheim from $15.00 to $18.00.
• 5/12/2023 – ACV Auctions had its price target raised by analysts at Citigroup Inc. from $14.00 to $19.00.
• 5/11/2023 – ACV Auctions had its price target raised by analysts at JMP Securities from $14.00 to $18.00.

ACV Auctions Stock Performance

NASDAQ ACVA opened at $17.30 on Thursday. ACV Auctions Inc. has a 52-week low of $6.10 and a 52-week high of $18.02. The stock has a market cap of $2.76 billion, a PE ratio of -29.83 and a beta of 1.41. The firm has a 50-day moving average of $13.49 and a 200-day moving average of $10.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.01 and a current ratio of 2.01.

ACV Auctions (NASDAQ:ACVA – Get Rating) last released its earnings results on Wednesday, February 22nd. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. ACV Auctions had a negative net margin of 20.75% and a negative return on equity of 16.03%. The firm had revenue of $97.97 million for the quarter, compared to analyst estimates of $99.08 million. On average, sell-side analysts anticipate that ACV Auctions Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 67,500 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $16.25, for a total value of $1,096,875.00. Following the transaction, the chief financial officer now directly owns 333,567 shares of the company’s stock, valued at approximately $5,420,463.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Vikas Mehta sold 82,748 shares of ACV Auctions stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $12.08, for a total transaction of $999,595.84. Following the sale, the chief operating officer now directly owns 354,429 shares in the company, valued at approximately $4,281,502.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO William Zerella sold 67,500 shares of ACV Auctions stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $16.25, for a total transaction of $1,096,875.00. Following the sale, the chief financial officer now owns 333,567 shares in the company, valued at $5,420,463.75. The disclosure for this sale can be found here. Insiders have sold a total of 3,629,683 shares of company stock valued at $56,946,858 in the last ninety days. 11.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. EVR Research LP acquired a new position in shares of ACV Auctions in the 3rd quarter worth approximately $6,291,000. Victory Capital Management Inc. acquired a new position in shares of ACV Auctions during the 3rd quarter valued at $120,000. Brandywine Global Investment Management LLC lifted its position in shares of ACV Auctions by 455.9% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 728,188 shares of the company’s stock valued at $5,236,000 after acquiring an additional 597,188 shares during the period. Parian Global Management LP acquired a new position in shares of ACV Auctions during the 3rd quarter valued at $629,000. Finally, Blue Grotto Capital LLC lifted its position in shares of ACV Auctions by 33.6% during the 4th quarter. Blue Grotto Capital LLC now owns 1,960,803 shares of the company’s stock valued at $16,098,000 after acquiring an additional 493,002 shares during the period. Institutional investors and hedge funds own 69.75% of the company’s stock.

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. It also provides data services that offer insights into the condition and value of used vehicles, as well as offers customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.