Michael Waterman Sells 18,001 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 18,001 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total transaction of $338,238.79. Following the completion of the transaction, the insider now owns 337,190 shares in the company, valued at $6,335,800.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, October 1st, Michael Waterman sold 16,098 shares of ACV Auctions stock. The shares were sold at an average price of $19.95, for a total transaction of $321,155.10.
• On Tuesday, September 17th, Michael Waterman sold 75,000 shares of ACV Auctions stock. The shares were sold at an average price of $20.24, for a total transaction of $1,518,000.00.

ACV Auctions Stock Performance

Shares of ACVA traded down $0.06 during midday trading on Thursday, hitting $19.20. 402,459 shares of the stock traded hands, compared to its average volume of 1,210,149. ACV Auctions Inc. has a 1-year low of $12.84 and a 1-year high of $21.10. The firm has a market capitalization of $3.17 billion, a PE ratio of -40.00 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.49 and a current ratio of 1.49. The business’s 50 day moving average price is $19.15 and its two-hundred day moving average price is $18.28.

ACV Auctions (NASDAQ:ACVA) last announced its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $160.62 million during the quarter, compared to analyst estimates of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. Equities research analysts predict that ACV Auctions Inc. will post -0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ACVA has been the topic of several research reports. Raymond James initiated coverage on shares of ACV Auctions in a report on Friday, September 27th. They issued a “market perform” rating and a $22.00 price target on the stock. JMP Securities raised their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Tuesday, September 17th. Finally, Barrington Research restated an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, ACV Auctions has an average rating of “Moderate Buy” and a consensus target price of $21.57.

Institutional Investors Weigh In On ACV Auctions

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Park Place Capital Corp lifted its stake in ACV Auctions by 34.1% during the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after buying an additional 706 shares in the last quarter. Amalgamated Bank lifted its stake in 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 in the last quarter. Blair William & Co. IL lifted its stake in ACV Auctions by 14.7% during the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock valued at $238,000 after buying an additional 1,626 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of ACV Auctions by 8.5% in the first quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock worth $429,000 after purchasing an additional 1,798 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of ACV Auctions by 10.4% in the second quarter. Arizona State Retirement System now owns 41,303 shares of the company’s stock worth $754,000 after purchasing an additional 3,881 shares in the last quarter. 88.55% of the stock is owned by institutional investors and hedge funds.

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.