ACV Auctions Inc. (NASDAQ:ACVA) Insider Craig Eric Anderson Sells 7,500 Shares

ACV Auctions Inc. (NASDAQ:ACVA) insider Craig Eric Anderson sold 7,500 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $18.50, for a total transaction of $138,750.00. Following the transaction, the insider now owns 194,525 shares in the company, valued at $3,598,712.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Craig Eric Anderson also recently made the following trade(s):

• On Thursday, March 28th, Craig Eric Anderson sold 5,000 shares of ACV Auctions stock. The shares were sold at an average price of $19.07, for a total value of $95,350.00.
• On Wednesday, February 28th, Craig Eric Anderson sold 5,000 shares of ACV Auctions stock. The stock was sold at an average price of $18.00, for a total value of $90,000.00.

ACV Auctions Stock Up 1.6 %

ACV Auctions stock traded up $0.28 during mid-day trading on Thursday, reaching $18.24. 1,701,540 shares of the company were exchanged, compared to its average volume of 1,243,592. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12. The firm has a market cap of $2.99 billion, a P/E ratio of -39.04 and a beta of 1.57. The business has a fifty day moving average of $16.90 and a 200 day moving average of $15.33. ACV Auctions Inc. has a 12-month low of $11.58 and a 12-month high of $19.54.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. ACV Auctions had a negative return on equity of 13.97% and a negative net margin of 15.64%. The firm had revenue of $118.38 million during the quarter, compared to analysts’ expectations of $117.62 million. Research analysts anticipate that ACV Auctions Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in ACV Auctions by 8.6% during the third quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company’s stock valued at $194,445,000 after acquiring an additional 1,010,941 shares during the last quarter. FMR LLC lifted its holdings in shares of ACV Auctions by 9.4% during the 3rd quarter. FMR LLC now owns 11,763,945 shares of the company’s stock valued at $178,577,000 after purchasing an additional 1,011,236 shares during the last quarter. Atreides Management LP lifted its holdings in shares of ACV Auctions by 5.8% during the 3rd quarter. Atreides Management LP now owns 10,829,070 shares of the company’s stock valued at $164,385,000 after purchasing an additional 594,347 shares during the last quarter. BlackRock Inc. boosted its position in shares of ACV Auctions by 9.6% in the 2nd quarter. BlackRock Inc. now owns 8,801,884 shares of the company’s stock worth $152,009,000 after purchasing an additional 770,630 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in ACV Auctions by 4,360.9% during the 2nd quarter. Alliancebernstein L.P. now owns 5,121,100 shares of the company’s stock worth $88,441,000 after buying an additional 5,006,300 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JMP Securities decreased their target price on ACV Auctions from $20.00 to $19.00 and set a “market outperform” rating for the company in a research report on Tuesday, January 16th. Northcoast Research raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of ACV Auctions in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.21.

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.