ACV Auctions Inc. (NASDAQ:ACVA) CEO George Chamoun Sells 83,895 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) CEO George Chamoun sold 83,895 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $16.21, for a total value of $1,359,937.95. Following the completion of the transaction, the chief executive officer now owns 622,950 shares in the company, valued at approximately $10,098,019.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

George Chamoun also recently made the following trade(s):

• On Thursday, September 14th, George Chamoun sold 64,383 shares of ACV Auctions stock. The shares were sold at an average price of $15.74, for a total value of $1,013,388.42.
• On Thursday, June 22nd, George Chamoun sold 105,970 shares of ACV Auctions stock. The shares were sold at an average price of $17.75, for a total value of $1,880,967.50.
• On Tuesday, June 20th, George Chamoun sold 143,049 shares of ACV Auctions stock. The shares were sold at an average price of $18.01, for a total value of $2,576,312.49.

ACV Auctions Trading Up 1.2 %

Shares of ACVA stock opened at $15.68 on Friday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22. ACV Auctions Inc. has a 52-week low of $6.51 and a 52-week high of $18.68. The business’s fifty day moving average is $16.50 and its 200 day moving average is $15.26.

ACV Auctions (NASDAQ:ACVA) last released its earnings results on Monday, August 7th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. The business had revenue of $124.22 million for the quarter, compared to analysts’ expectations of $119.44 million. ACV Auctions had a negative return on equity of 16.17% and a negative net margin of 18.33%. Equities research analysts forecast that ACV Auctions Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new position in ACV Auctions in the second quarter valued at $36,000. Pinebridge Investments L.P. bought a new position in shares of ACV Auctions during the second quarter valued at about $42,000. Fifth Third Bancorp bought a new position in shares of ACV Auctions during the second quarter valued at about $58,000. Citigroup Inc. grew its stake in shares of ACV Auctions by 359.1% during the first quarter. Citigroup Inc. now owns 3,641 shares of the company’s stock valued at $54,000 after buying an additional 2,848 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of ACV Auctions by 47.5% during the fourth quarter. UBS Group AG now owns 3,725 shares of the company’s stock valued at $31,000 after buying an additional 1,200 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Piper Jaffray Companies increased their target price on ACV Auctions from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 5th. B. Riley assumed coverage on ACV Auctions in a research report on Wednesday, July 19th. They set a “buy” rating and a $23.00 target price on the stock. B. Riley Financial assumed coverage on ACV Auctions in a research report on Thursday, July 20th. They set a “buy” rating and a $23.00 target price on the stock. JPMorgan Chase & Co. increased their target price on ACV Auctions from $17.00 to $18.00 in a research report on Tuesday, August 8th. Finally, Stephens restated an “overweight” rating and set a $20.00 target price on shares of ACV Auctions in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.07.

About ACV Auctions

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