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 that occurred on Tuesday, April 16th. The shares were sold at an average price of $17.17, for a total transaction of $558,025.00. Following the sale, the chief financial officer now owns 314,151 shares in the company, valued at approximately $5,393,972.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, March 19th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $18.40, for a total transaction of $598,000.00.
• On Tuesday, March 5th, William Zerella sold 50,000 shares of ACV Auctions stock. The shares were sold at an average price of $18.72, for a total transaction of $936,000.00.
• On Tuesday, February 6th, William Zerella sold 32,500 shares of ACV Auctions stock. The shares were sold at an average price of $14.07, for a total transaction of $457,275.00.

ACV Auctions Trading Up 0.1 %

Shares of ACVA opened at $17.31 on Friday. The company’s fifty day moving average is $17.39 and its 200 day moving average is $15.45. ACV Auctions Inc. has a fifty-two week low of $11.58 and a fifty-two week high of $19.54. The stock has a market capitalization of $2.84 billion, a PE ratio of -37.63 and a beta of 1.57. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. The company had revenue of $118.38 million during the quarter, compared to analyst estimates of $117.62 million. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. Sell-side analysts expect that ACV Auctions Inc. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ACVA. JMP Securities reiterated a “market outperform” rating and set a $19.00 price objective on shares of ACV Auctions in a research report on Wednesday. Northcoast Research upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Wednesday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, ACV Auctions presently has a consensus rating of “Moderate Buy” and an average price target of $20.21.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in ACV Auctions by 8.6% during the third quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company’s stock worth $194,445,000 after buying an additional 1,010,941 shares during the period. Loomis Sayles & Co. L P purchased a new position in ACV Auctions during the third quarter worth $32,611,000. Deepwater Asset Management LLC boosted its stake in shares of ACV Auctions by 20.1% during the fourth quarter. Deepwater Asset Management LLC now owns 851,819 shares of the company’s stock valued at $12,905,000 after purchasing an additional 142,296 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of ACV Auctions by 8.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,705,720 shares of the company’s stock valued at $25,893,000 after purchasing an additional 134,587 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in shares of ACV Auctions by 8.7% during the third quarter. William Blair Investment Management LLC now owns 4,369,867 shares of the company’s stock valued at $66,335,000 after purchasing an additional 350,865 shares during the period. 88.55% of the stock is owned by hedge funds and other institutional investors.

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.