ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) COO Vikas Mehta sold 78,259 shares of the business's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $17.97, for a total transaction of $1,406,314.23. Following the sale, the chief operating officer now directly owns 321,475 shares in the company, valued at $5,776,905.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Vikas Mehta also recently made the following trade(s):
- On Tuesday, March 5th, Vikas Mehta sold 333,497 shares of ACV Auctions stock. The stock was sold at an average price of $18.62, for a total value of $6,209,714.14.
- On Thursday, February 22nd, Vikas Mehta sold 200,000 shares of ACV Auctions stock. The stock was sold at an average price of $16.48, for a total value of $3,296,000.00.
ACV Auctions Stock Performance
NASDAQ ACVA opened at $18.51 on Thursday. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -40.24 and a beta of 1.57. The stock has a 50-day moving average of $16.41 and a 200 day moving average of $15.22. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.25. ACV Auctions Inc. has a twelve month low of $11.58 and a twelve month high of $19.54.
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ACV Auctions (NASDAQ:ACVA - Get Free Report) last announced its earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.01. ACV Auctions had a negative return on equity of 13.97% and a negative net margin of 15.64%. The business had revenue of $118.38 million during the quarter, compared to the consensus estimate of $117.62 million. Sell-side analysts anticipate that ACV Auctions Inc. will post -0.29 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on ACVA shares. Northcoast Research upgraded shares of ACV Auctions from a "neutral" rating to a "buy" rating and set a $22.00 price target on the stock in a report on Wednesday, January 10th. JMP Securities reduced their target price on shares of ACV Auctions from $20.00 to $19.00 and set a "market outperform" rating for the company in a report on Tuesday, January 16th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $23.00 price target on shares of ACV Auctions in a report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, ACV Auctions has a consensus rating of "Moderate Buy" and a consensus target price of $20.21.
Check Out Our Latest Analysis on ACV Auctions
Hedge Funds Weigh In On ACV Auctions
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACVA. Vanguard Group Inc. raised its position in shares of ACV Auctions by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company's stock worth $194,445,000 after purchasing an additional 1,010,941 shares during the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of ACV Auctions in the third quarter valued at approximately $32,611,000. Deepwater Asset Management LLC boosted its stake in shares of ACV Auctions by 20.1% in the fourth quarter. Deepwater Asset Management LLC now owns 851,819 shares of the company's stock worth $12,905,000 after acquiring an additional 142,296 shares during the last quarter. William Blair Investment Management LLC increased its position 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 worth $66,335,000 after purchasing an additional 350,865 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in ACV Auctions by 8.6% in the 3rd 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 last quarter. 88.55% of the stock is owned by hedge funds and other institutional investors.
About ACV Auctions
(
Get Free Report)
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.
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