Andrew Peer Sells 1,750 Shares of ACV Auctions (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) CAO Andrew Peer sold 1,750 shares of ACV Auctions stock in a transaction on Monday, December 15th. The shares were sold at an average price of $8.03, for a total value of $14,052.50. Following the completion of the transaction, the chief accounting officer directly owned 55,554 shares of the company’s stock, valued at $446,098.62. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Andrew Peer also recently made the following trade(s):

• On Wednesday, October 15th, Andrew Peer sold 1,750 shares of ACV Auctions stock. The stock was sold at an average price of $8.84, for a total value of $15,470.00.

ACV Auctions Stock Up 3.0%

ACVA stock opened at $7.95 on Friday. ACV Auctions Inc. has a 52 week low of $4.95 and a 52 week high of $22.47. The business has a 50-day simple moving average of $7.85 and a 200 day simple moving average of $11.42. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. The company has a market cap of $1.37 billion, a PE ratio of -16.23 and a beta of 1.64.

ACV Auctions (NASDAQ:ACVA) last released its earnings results on Wednesday, November 5th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The firm had revenue of $199.56 million for the quarter, compared to analyst estimates of $200.26 million. During the same period last year, the firm earned $0.04 EPS. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. Sell-side analysts anticipate that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

Analyst Ratings Changes

ACVA has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on ACV Auctions from $18.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Bank of America reaffirmed an “underperform” rating and issued a $6.00 price objective (down from $16.50) on shares of ACV Auctions in a research note on Thursday, November 6th. Barrington Research downgraded ACV Auctions from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 6th. The Goldman Sachs Group dropped their target price on shares of ACV Auctions from $21.00 to $13.00 and set a “buy” rating for the company in a report on Friday, November 7th. Finally, Barclays lifted their price target on shares of ACV Auctions to $7.00 and gave the company an “equal weight” rating in a report on Thursday, December 4th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ACV Auctions presently has an average rating of “Hold” and a consensus price target of $11.75.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd grew its holdings in ACV Auctions by 298.4% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,323 shares of the company’s stock worth $33,000 after acquiring an additional 2,489 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of ACV Auctions during the first quarter worth $35,000. Covestor Ltd grew its stake in shares of ACV Auctions by 39.9% in the third quarter. Covestor Ltd now owns 5,785 shares of the company’s stock worth $57,000 after purchasing an additional 1,649 shares during the last quarter. CWM LLC increased its holdings in ACV Auctions by 77.4% in the second quarter. CWM LLC now owns 4,642 shares of the company’s stock valued at $75,000 after purchasing an additional 2,026 shares during the period. Finally, Neo Ivy Capital Management bought a new position in ACV Auctions during the 2nd quarter worth $87,000. Institutional investors own 88.55% of the company’s stock.

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.