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 the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $8.85, for a total value of $15,487.50. Following the completion of the transaction, the chief accounting officer directly owned 72,473 shares in the company, valued at $641,386.05. The trade was a 2.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, December 15th, Andrew Peer sold 1,750 shares of ACV Auctions stock. The stock was sold at an average price of $8.03, for a total transaction of $14,052.50.

ACV Auctions Stock Down 2.3%

Shares of NASDAQ ACVA traded down $0.21 during midday trading on Friday, reaching $8.77. The company’s stock had a trading volume of 1,528,218 shares, compared to its average volume of 2,353,538. The stock has a 50 day simple moving average of $7.69 and a 200-day simple moving average of $10.36. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. ACV Auctions Inc. has a fifty-two week low of $4.95 and a fifty-two week high of $22.47. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -17.90 and a beta of 1.63.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $199.56 million during the quarter, compared to analysts’ expectations of $200.26 million. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%.The business’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share. Equities research analysts predict that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP boosted its stake in ACV Auctions by 301.0% in the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock worth $118,331,000 after purchasing an additional 5,475,874 shares in the last quarter. SG Capital Management LLC bought a new position in ACV Auctions in the third quarter worth approximately $17,103,000. ArrowMark Colorado Holdings LLC lifted its position in ACV Auctions by 30.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company’s stock valued at $62,803,000 after purchasing an additional 1,475,932 shares in the last quarter. Hawk Ridge Capital Management LP purchased a new position in shares of ACV Auctions during the 3rd quarter valued at about $14,502,000. Finally, Senvest Management LLC increased its stake in shares of ACV Auctions by 144.8% in the second quarter. Senvest Management LLC now owns 1,689,290 shares of the company’s stock worth $27,400,000 after purchasing an additional 999,290 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barrington Research cut ACV Auctions from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. lowered their target price on ACV Auctions from $18.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Citigroup cut their target price on ACV Auctions from $17.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Needham & Company LLC decreased their target price on shares of ACV Auctions from $14.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Finally, Barclays increased their price target on ACV Auctions to $7.00 and gave the company an “equal weight” rating in a research 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.75.

About ACV Auctions

ACV Auctions operates a digital marketplace that connects automotive dealers through a mobile-first platform for wholesale vehicle auctions. The company’s software enables dealers to list, inspect and bid on used vehicles in real time, leveraging smartphone-based condition reporting, high-resolution imagery and data analytics to streamline the buying and selling process. ACV Auctions also offers subscription-based access to its auction platform, supplemental reconditioning services and financing tools designed to help dealers optimize inventory turn and reduce risk.

Since its founding in 2014, ACV Auctions has expanded its technology offerings beyond core auction services to include dealer management integrations, transportation logistics coordination and title management solutions.