Key Points
- CEO insider buy: ACV Auctions CEO George Chamoun bought 31,172 shares at an average price of $7.97 on Dec. 15, spending $248,440.84 and boosting his direct stake to 2,618,714 shares (a 1.20% ownership increase, valued at about $20.87M).
- Recent performance and results: ACVA traded near $8 with a $1.38B market cap; the company reported $0.07 EPS (meeting consensus) and 16.5% revenue growth but remains unprofitable with negative margins and ROE.
- Analyst view is mixed: brokers have moved ratings and cut targets recently, leaving a consensus "Hold" rating and a $11.75 average price target despite several buy/hold downgrades.
ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) CAO Andrew Peer sold 1,750 shares of the business's stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $8.03, for a total transaction of $14,052.50. Following the completion of the transaction, the chief accounting officer owned 55,554 shares of the company's stock, valued at $446,098.62. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Andrew Peer also recently made the following trade(s):
- On Wednesday, October 15th, Andrew Peer sold 1,750 shares of ACV Auctions stock. The shares were sold at an average price of $8.84, for a total transaction of $15,470.00.
ACV Auctions Trading Up 4.0%
ACVA stock traded up $0.31 during midday trading on Thursday, reaching $8.03. The company's stock had a trading volume of 689,905 shares, compared to its average volume of 2,683,350. The business's 50-day simple moving average is $7.87 and its 200-day simple moving average is $11.45. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. ACV Auctions Inc. has a 52 week low of $4.95 and a 52 week high of $22.47. The stock has a market cap of $1.38 billion, a PE ratio of -16.37 and a beta of 1.64.
ACV Auctions (NASDAQ:ACVA - Get Free Report) last posted its earnings results on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%.The company had revenue of $199.56 million during the quarter, compared to analyst estimates of $200.26 million. During the same period in the previous year, the company earned $0.04 EPS. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, sell-side analysts expect that ACV Auctions Inc. will post -0.07 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd increased its stake 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 worth $33,000 after purchasing an additional 2,489 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in ACV Auctions during the first quarter worth about $35,000. Covestor Ltd grew its holdings in ACV Auctions by 39.9% during the third quarter. Covestor Ltd now owns 5,785 shares of the company's stock worth $57,000 after purchasing an additional 1,649 shares during the period. CWM LLC increased its position in 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 buying an additional 2,026 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in ACV Auctions in the second quarter valued at approximately $87,000. Institutional investors own 88.55% of the company's stock.
Analyst Ratings Changes
Several research firms have recently weighed in on ACVA. Jefferies Financial Group cut ACV Auctions from a "buy" rating to a "hold" rating and set a $9.00 price objective for the company. in a research report on Thursday, December 11th. Barrington Research cut ACV Auctions from an "outperform" rating to a "market perform" rating in a research note on Thursday, November 6th. Bank of America reaffirmed an "underperform" rating and set a $6.00 price target (down from $16.50) on shares of ACV Auctions in a research note on Thursday, November 6th. JPMorgan Chase & Co. cut their price objective on shares of ACV Auctions from $18.00 to $11.00 and set an "overweight" rating on the stock in a research report on Thursday, November 6th. Finally, 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. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ACV Auctions presently has an average rating of "Hold" and an average price target of $11.75.
Read Our Latest Analysis on ACV Auctions
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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