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 on Monday, December 15th. The shares were sold at an average price of $8.03, for a total value of $14,052.50. Following the transaction, the chief accounting officer directly owned 55,554 shares of the company’s stock, valued at approximately $446,098.62. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, October 15th, Andrew Peer sold 1,750 shares of ACV Auctions stock. The stock was sold at an average price of $8.84, for a total value of $15,470.00.

ACV Auctions Price Performance

ACVA stock traded down $0.30 during trading hours on Wednesday, hitting $7.70. 2,711,166 shares of the stock traded hands, compared to its average volume of 2,692,518. The stock has a 50-day simple moving average of $7.91 and a 200 day simple moving average of $11.47. The company has a market cap of $1.33 billion, a P/E ratio of -15.71 and a beta of 1.64. ACV Auctions Inc. has a one year low of $4.95 and a one year high of $22.47. 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 (NASDAQ:ACVA) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The firm had revenue of $199.56 million for the quarter, compared to analysts’ expectations of $200.26 million. During the same period in the previous year, the business earned $0.04 earnings per share. ACV Auctions’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities analysts forecast that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

Institutional Trading of ACV Auctions

Institutional investors have recently made changes to their positions in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new position in ACV Auctions in the 1st quarter valued at approximately $35,000. Aster Capital Management DIFC Ltd grew its holdings in shares of ACV Auctions by 298.4% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,323 shares of the company’s stock valued at $33,000 after acquiring an additional 2,489 shares in the last quarter. CWM LLC raised its holdings in shares of ACV Auctions by 77.4% during the second quarter. CWM LLC now owns 4,642 shares of the company’s stock worth $75,000 after acquiring an additional 2,026 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in ACV Auctions during the second quarter valued at $87,000. Finally, Covestor Ltd grew its stake in ACV Auctions by 39.9% in the third quarter. Covestor Ltd now owns 5,785 shares of the company’s stock valued at $57,000 after purchasing an additional 1,649 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ACVA. Citigroup reduced their target price on shares of ACV Auctions from $17.00 to $13.00 and set a “buy” rating for the company in a report on Friday, November 21st. Barrington Research downgraded ACV Auctions from an “outperform” rating to a “market perform” rating in a report on Thursday, November 6th. Barclays lifted their target price on shares of ACV Auctions to $7.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 4th. JPMorgan Chase & Co. decreased their price objective on shares of ACV Auctions from $18.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Finally, Jefferies Financial Group cut shares of ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 price objective on the stock. in a research report on Thursday, December 11th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.75.

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.