ACV Auctions (NASDAQ:ACVA) Reaches New 52-Week Low – Should You Sell?

Shares of ACV Auctions Inc. (NASDAQ:ACVA) reached a new 52-week low during trading on Monday . The stock traded as low as $12.96 and last traded at $13.10, with a volume of 2885049 shares. The stock had previously closed at $14.11.

Wall Street Analysts Forecast Growth

ACVA has been the topic of several recent analyst reports. B. Riley raised their price target on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Stephens upgraded shares of ACV Auctions to a “hold” rating in a report on Saturday, February 1st. Needham & Company LLC dropped their target price on shares of ACV Auctions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. JMP Securities reiterated a “market outperform” rating and set a $25.00 target price on shares of ACV Auctions in a report on Monday, December 16th. Finally, Citigroup increased their target price on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.35.

ACV Auctions Stock Down 7.2 %

The firm has a market capitalization of $2.21 billion, a P/E ratio of -26.73 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. The business’s fifty day moving average price is $19.83 and its two-hundred day moving average price is $19.97.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The business had revenue of $159.51 million for the quarter, compared to analysts’ expectations of $156.77 million. Equities analysts expect that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Waterman sold 15,000 shares of ACV Auctions stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total value of $304,050.00. Following the completion of the sale, the insider now directly owns 311,354 shares in the company, valued at $6,311,145.58. This trade represents a 4.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $21.65, for a total transaction of $703,625.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares of the company’s stock, valued at $10,618,935.30. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,662 shares of company stock worth $1,935,451 in the last three months. Corporate insiders own 8.50% of the company’s stock.

Institutional Trading of ACV Auctions

Institutional investors have recently bought and sold shares of the stock. Moody National Bank Trust Division boosted its stake in ACV Auctions by 64.6% in the 4th quarter. Moody National Bank Trust Division now owns 79,199 shares of the company’s stock worth $1,711,000 after purchasing an additional 31,094 shares in the last quarter. Quadrature Capital Ltd purchased a new position in ACV Auctions during the 3rd quarter worth approximately $566,000. TimesSquare Capital Management LLC raised its position in ACV Auctions by 6.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,891,627 shares of the company’s stock worth $40,859,000 after buying an additional 118,421 shares during the last quarter. JPMorgan Chase & Co. raised its position in ACV Auctions by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,167,615 shares of the company’s stock worth $64,398,000 after buying an additional 311,465 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in ACV Auctions during the 3rd quarter worth approximately $2,035,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

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.