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

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total transaction of $610,675.00. Following the completion of the transaction, the chief financial officer now owns 490,482 shares in the company, valued at approximately $9,216,156.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, September 17th, William Zerella sold 76,856 shares of ACV Auctions stock. The stock was sold at an average price of $20.26, for a total value of $1,557,102.56.
• On Tuesday, August 6th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $15.19, for a total value of $493,675.00.

ACV Auctions Price Performance

Shares of NASDAQ ACVA opened at $19.05 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.49 and a current ratio of 1.49. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $21.10. The firm has a market capitalization of $3.14 billion, a P/E ratio of -39.69 and a beta of 1.56. The company’s fifty day moving average is $19.20 and its two-hundred day moving average is $18.29.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. The firm had revenue of $160.62 million for the quarter, compared to the consensus estimate of $156.33 million. Analysts forecast that ACV Auctions Inc. will post -0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On ACV Auctions

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in shares of ACV Auctions by 47.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,758,163 shares of the company’s stock valued at $141,586,000 after buying an additional 2,502,064 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in ACV Auctions by 217.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,391,070 shares of the company’s stock valued at $25,387,000 after acquiring an additional 952,929 shares in the last quarter. Swedbank AB purchased a new position in ACV Auctions during the 1st quarter valued at about $15,016,000. TimesSquare Capital Management LLC lifted its holdings in shares of ACV Auctions by 45.6% in the first quarter. TimesSquare Capital Management LLC now owns 1,765,822 shares of the company’s stock valued at $33,144,000 after purchasing an additional 552,719 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of ACV Auctions in the second quarter valued at approximately $8,567,000. 88.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JMP Securities lifted their target price on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 17th. Barrington Research reiterated an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a research report on Friday, August 16th. Finally, Raymond James initiated coverage on shares of ACV Auctions in a research report on Friday, September 27th. They set a “market perform” rating and a $22.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, ACV Auctions currently has an average rating of “Moderate Buy” and an average target price of $21.57.

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.