ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) COO Vikas Mehta sold 13,399 shares of the firm's stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $18.55, for a total transaction of $248,551.45. Following the sale, the chief operating officer now directly owns 321,475 shares of the company's stock, valued at approximately $5,963,361.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Vikas Mehta also recently made the following trade(s):
- On Tuesday, April 2nd, Vikas Mehta sold 78,259 shares of ACV Auctions stock. The stock was sold at an average price of $17.97, for a total transaction of $1,406,314.23.
- 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 transaction 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 transaction of $3,296,000.00.
ACV Auctions Stock Performance
ACVA stock opened at $18.41 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -40.02 and a beta of 1.57. ACV Auctions Inc. has a 1 year low of $11.58 and a 1 year high of $19.54. The stock's fifty day moving average is $16.60 and its two-hundred day moving average is $15.26.
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ACV Auctions (NASDAQ:ACVA - Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.01. The company had revenue of $118.38 million for the quarter, compared to analysts' expectations of $117.62 million. ACV Auctions had a negative return on equity of 13.97% and a negative net margin of 15.64%. On average, research analysts predict that ACV Auctions Inc. will post -0.29 EPS for the current year.
Institutional Investors Weigh In On ACV Auctions
Hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC raised its stake in shares of ACV Auctions by 95.8% during the first quarter. Los Angeles Capital Management LLC now owns 43,380 shares of the company's stock valued at $814,000 after purchasing an additional 21,230 shares in the last quarter. Congress Asset Management Co. MA raised its stake in shares of ACV Auctions by 7.3% during the fourth quarter. Congress Asset Management Co. MA now owns 396,356 shares of the company's stock valued at $6,005,000 after purchasing an additional 26,915 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of ACV Auctions by 4.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 72,926 shares of the company's stock valued at $1,105,000 after purchasing an additional 3,427 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of ACV Auctions during the fourth quarter valued at about $479,000. Finally, Legal & General Group Plc raised its stake in shares of ACV Auctions by 7.9% during the fourth quarter. Legal & General Group Plc now owns 130,640 shares of the company's stock valued at $1,979,000 after purchasing an additional 9,617 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on ACVA shares. Northcoast Research raised shares of ACV Auctions from a "neutral" rating to a "buy" rating and set a $22.00 price target for the company in a research report on Wednesday, January 10th. JMP Securities decreased their price objective 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 objective on shares of ACV Auctions in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $20.21.
View Our Latest Stock Analysis on ACV Auctions
ACV Auctions Company Profile
(
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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