Jefferies Financial Group Increases ACV Auctions (NASDAQ:ACVA) Price Target to $25.00

ACV Auctions (NASDAQ:ACVA) had its target price raised by Jefferies Financial Group from $22.00 to $25.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the company. JMP Securities upped their price objective on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 17th. Raymond James began coverage on ACV Auctions in a research note on Friday, September 27th. They set a “market perform” rating and a $22.00 price objective on the stock. Finally, Barrington Research restated an “outperform” rating and set a $23.00 price objective on shares of ACV Auctions in a research note on Friday, August 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ACV Auctions presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

ACV Auctions Trading Down 1.1 %

Shares of ACVA opened at $17.56 on Tuesday. The company has a market capitalization of $2.90 billion, a P/E ratio of -36.58 and a beta of 1.56. ACV Auctions has a one year low of $12.84 and a one year high of $21.10. 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 stock has a 50-day moving average price of $19.17 and a 200 day moving average price of $18.28.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) 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 the consensus estimate of $156.33 million. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. Sell-side analysts forecast that ACV Auctions will post -0.35 EPS for the current fiscal year.

Insider Transactions at ACV Auctions

In other news, VP Andrew Peer sold 1,795 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Vikas Mehta sold 154,324 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $19.19, for a total value of $2,961,477.56. Following the sale, the chief operating officer now directly owns 432,457 shares in the company, valued at $8,298,849.83. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew Peer sold 1,795 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the sale, the vice president now owns 62,956 shares in the company, valued at approximately $1,322,076. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 741,926 shares of company stock worth $14,285,765. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of ACV Auctions

Several large investors have recently added to or reduced their stakes in the business. MCF Advisors LLC boosted 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 valued at $30,000 after purchasing an additional 765 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in ACV Auctions by 23.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 578,266 shares of the company’s stock valued at $11,756,000 after purchasing an additional 108,861 shares in the last quarter. Blue Trust Inc. boosted 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 valued at $29,000 after purchasing an additional 884 shares in the last quarter. Creative Planning boosted its stake in ACV Auctions by 129.4% during the 3rd quarter. Creative Planning now owns 27,935 shares of the company’s stock valued at $568,000 after purchasing an additional 15,758 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in ACV Auctions during the 3rd quarter valued at $2,915,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

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.