ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella Sells 32,500 Shares

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $17.17, for a total transaction of $558,025.00. Following the completion of the transaction, the chief financial officer now directly owns 314,151 shares of the company’s stock, valued at approximately $5,393,972.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

William Zerella also recently made the following trade(s):

• On Tuesday, March 19th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $18.40, for a total transaction of $598,000.00.
• On Tuesday, March 5th, William Zerella sold 50,000 shares of ACV Auctions stock. The shares were sold at an average price of $18.72, for a total transaction of $936,000.00.
• On Tuesday, February 6th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $14.07, for a total transaction of $457,275.00.

ACV Auctions Stock Performance

ACVA traded up $0.51 on Wednesday, reaching $17.80. The company had a trading volume of 1,053,162 shares, compared to its average volume of 1,219,393. ACV Auctions Inc. has a fifty-two week low of $11.58 and a fifty-two week high of $19.54. The stock has a market cap of $2.92 billion, a P/E ratio of -38.59 and a beta of 1.57. The company’s fifty day moving average is $17.20 and its 200 day moving average is $15.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12.

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

Institutional Trading of ACV Auctions

A number of institutional investors have recently bought and sold shares of the business. Congress Asset Management Co. MA boosted its holdings in ACV Auctions by 21.8% in the 1st quarter. Congress Asset Management Co. MA now owns 482,881 shares of the company’s stock valued at $9,064,000 after purchasing an additional 86,525 shares during the period. Los Angeles Capital Management LLC boosted its holdings in ACV Auctions by 95.8% in the 1st quarter. Los Angeles Capital Management LLC now owns 43,380 shares of the company’s stock valued at $814,000 after purchasing an additional 21,230 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of ACV Auctions by 4.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 72,926 shares of the company’s stock worth $1,105,000 after acquiring an additional 3,427 shares during the period. GSA Capital Partners LLP bought a new stake in shares of ACV Auctions during the 4th quarter worth approximately $479,000. Finally, Legal & General Group Plc lifted its holdings in shares of ACV Auctions by 7.9% during the 4th quarter. Legal & General Group Plc now owns 130,640 shares of the company’s stock worth $1,979,000 after acquiring an additional 9,617 shares during the period. Institutional investors own 88.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $19.00 target price on shares of ACV Auctions in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of ACV Auctions in a research report on Thursday, February 22nd. Finally, Northcoast Research raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Wednesday, January 10th. Two equities 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, ACV Auctions presently has an average rating of “Moderate Buy” and an average price target 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.