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

ACV Auctions Inc. (NASDAQ:ACVA) insider Craig Eric Anderson sold 7,500 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $18.50, for a total value of $138,750.00. Following the completion of the sale, the insider now owns 194,525 shares of the company’s stock, valued at $3,598,712.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 stock was sold at an average price of $19.07, for a total transaction 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 transaction of $90,000.00.

ACV Auctions Trading Down 3.0 %

NASDAQ ACVA opened at $17.70 on Friday. ACV Auctions Inc. has a 12 month low of $11.58 and a 12 month high of $19.54. The stock has a 50-day simple moving average of $17.08 and a 200 day simple moving average of $15.37. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $2.90 billion, a PE ratio of -38.48 and a beta of 1.57.

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

Institutional Investors Weigh In On ACV Auctions

Large investors have recently bought and sold shares of the company. UBS Group AG grew its holdings in shares of ACV Auctions by 47.5% in the 4th quarter. UBS Group AG now owns 3,725 shares of the company’s stock valued at $31,000 after buying an additional 1,200 shares during the period. Park Place Capital Corp grew its stake in ACV Auctions by 83.2% in the third quarter. Park Place Capital Corp now owns 2,180 shares of the company’s stock valued at $33,000 after acquiring an additional 990 shares during the period. Neo Ivy Capital Management bought a new stake in shares of ACV Auctions in the second quarter worth about $36,000. KBC Group NV acquired a new stake in shares of ACV Auctions during the fourth quarter worth about $43,000. Finally, Lazard Asset Management LLC bought a new position in shares of ACV Auctions during the 4th quarter valued at about $53,000. Institutional investors own 88.55% of the company’s stock.

Analyst Ratings Changes

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

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.