ACV Auctions (NASDAQ:ACVA) CEO George Chamoun Acquires 14,286 Shares

ACV Auctions Inc. (NASDAQ:ACVA) CEO George Chamoun bought 14,286 shares of ACV Auctions stock in a transaction dated Monday, January 12th. The stock was acquired at an average cost of $8.81 per share, for a total transaction of $125,859.66. Following the purchase, the chief executive officer directly owned 2,598,383 shares in the company, valued at approximately $22,891,754.23. The trade was a 0.55% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

George Chamoun also recently made the following trade(s):

• On Monday, December 15th, George Chamoun purchased 31,172 shares of ACV Auctions stock. The shares were acquired at an average cost of $7.97 per share, with a total value of $248,440.84.

ACV Auctions Trading Down 0.5%

Shares of NASDAQ ACVA opened at $8.73 on Wednesday. ACV Auctions Inc. has a fifty-two week low of $4.95 and a fifty-two week high of $22.47. The firm has a market capitalization of $1.50 billion, a P/E ratio of -17.81 and a beta of 1.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. The company’s 50 day simple moving average is $7.60 and its 200 day simple moving average is $10.38.

ACV Auctions (NASDAQ:ACVA) last issued its earnings results on Wednesday, November 5th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $199.56 million during the quarter, compared to analysts’ expectations of $200.26 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS. On average, analysts predict that ACV Auctions Inc. will post -0.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ACVA. JPMorgan Chase & Co. reduced their target price on ACV Auctions from $18.00 to $11.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Bank of America reissued an “underperform” rating and set a $6.00 price objective (down previously from $16.50) on shares of ACV Auctions in a research note on Thursday, November 6th. Jefferies Financial Group cut shares of ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 price objective for the company. in a report on Thursday, December 11th. Barrington Research lowered shares of ACV Auctions from an “outperform” rating to a “market perform” rating in a report on Thursday, November 6th. Finally, The Goldman Sachs Group reduced their price target on shares of ACV Auctions from $21.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ACV Auctions currently has a consensus rating of “Hold” and a consensus target price of $11.75.

Institutional Trading of ACV Auctions

Hedge funds have recently bought and sold shares of the stock. Wasatch Advisors LP boosted its holdings in shares of ACV Auctions by 301.0% in the second quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock valued at $118,331,000 after buying an additional 5,475,874 shares during the period. SG Capital Management LLC acquired a new stake in shares of ACV Auctions during the third quarter worth $17,103,000. ArrowMark Colorado Holdings LLC increased its holdings in ACV Auctions by 30.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company’s stock worth $62,803,000 after purchasing an additional 1,475,932 shares in the last quarter. Hawk Ridge Capital Management LP acquired a new stake in shares of ACV Auctions in the 3rd quarter valued at about $14,502,000. Finally, Senvest Management LLC raised its stake in shares of ACV Auctions by 144.8% in the 2nd quarter. Senvest Management LLC now owns 1,689,290 shares of the company’s stock valued at $27,400,000 after purchasing an additional 999,290 shares during the period. 88.55% of the stock is currently owned by institutional investors and hedge funds.

About ACV Auctions

ACV Auctions operates a digital marketplace that connects automotive dealers through a mobile-first platform for wholesale vehicle auctions. The company’s software enables dealers to list, inspect and bid on used vehicles in real time, leveraging smartphone-based condition reporting, high-resolution imagery and data analytics to streamline the buying and selling process. ACV Auctions also offers subscription-based access to its auction platform, supplemental reconditioning services and financing tools designed to help dealers optimize inventory turn and reduce risk.

Since its founding in 2014, ACV Auctions has expanded its technology offerings beyond core auction services to include dealer management integrations, transportation logistics coordination and title management solutions.