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

ACV Auctions Inc. (NASDAQ:ACVA) CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total value of $728,325.00. Following the completion of the sale, the chief financial officer now directly owns 490,482 shares in the company, valued at $10,991,701.62. This represents a 6.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, October 15th, William Zerella sold 32,500 shares of ACV Auctions stock. The stock was sold at an average price of $18.79, for a total value of $610,675.00.
• On Tuesday, September 17th, William Zerella sold 76,856 shares of ACV Auctions stock. The shares were sold at an average price of $20.26, for a total value of $1,557,102.56.

ACV Auctions Stock Performance

Shares of ACVA traded up $0.32 during mid-day trading on Wednesday, reaching $22.71. The company’s stock had a trading volume of 647,974 shares, compared to its average volume of 1,264,962. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. ACV Auctions Inc. has a 1-year low of $12.84 and a 1-year high of $23.46. The business has a 50-day simple moving average of $19.60 and a two-hundred day simple moving average of $18.63. The stock has a market cap of $3.81 billion, a P/E ratio of -48.32 and a beta of 1.59.

Analyst Ratings Changes

ACVA has been the topic of a number of recent research reports. Barrington Research reiterated an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a report on Monday, November 4th. JMP Securities lifted their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 17th. Citigroup increased their price objective on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 target price on shares of ACV Auctions in a research report on Tuesday. Finally, Jefferies Financial Group increased their price target on ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Institutional Investors Weigh In On ACV Auctions

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in shares of ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after purchasing an additional 884 shares during the period. MCF Advisors LLC grew its stake in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after buying an additional 765 shares during the last quarter. Park Place Capital Corp raised its holdings in ACV Auctions by 34.1% in the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after acquiring an additional 706 shares during the period. Amalgamated Bank lifted its position in ACV Auctions by 18.0% during the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after acquiring an additional 782 shares during the last quarter. Finally, Verdence Capital Advisors LLC bought a new stake in shares of ACV Auctions during the third quarter worth approximately $206,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

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.