Key Points
- ACV Auctions CEO George Chamoun bought 14,286 shares on Jan. 12 at an average $8.81 (≈$125,860), boosting his stake to 2,598,383 shares (a 0.55% increase); he also purchased 31,172 shares on Dec. 15 at $7.97.
- ACV stock traded around $8.73 with a $1.5B market cap; the company reported $0.07 EPS and 16.5% revenue growth but remains unprofitable, and analysts have an average "Hold" rating with a $11.75 target.
ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) CEO George Chamoun purchased 14,286 shares of ACV Auctions stock in a transaction on Monday, January 12th. The shares were purchased at an average cost of $8.81 per share, with a total value of $125,859.66. Following the transaction, the chief executive officer owned 2,598,383 shares in the company, valued at approximately $22,891,754.23. The trade was a 0.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
George Chamoun also recently made the following trade(s):
- On Monday, December 15th, George Chamoun acquired 31,172 shares of ACV Auctions stock. The stock was acquired at an average price of $7.97 per share, for a total transaction of $248,440.84.
ACV Auctions Stock Down 0.5%
ACV Auctions stock opened at $8.73 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $7.60 and a 200 day simple moving average of $10.38. The company has a market cap of $1.50 billion, a P/E ratio of -17.81 and a beta of 1.63. ACV Auctions Inc. has a 1-year low of $4.95 and a 1-year high of $22.47.
ACV Auctions (NASDAQ:ACVA - Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The business 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 firm's revenue was up 16.5% on a year-over-year basis. During the same period last year, the business earned $0.04 earnings per share. Research analysts anticipate that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research firms have recently commented on ACVA. Barclays upped their target price on ACV Auctions to $7.00 and gave the company an "equal weight" rating in a research report on Thursday, December 4th. Needham & Company LLC dropped their price target on shares of ACV Auctions from $14.00 to $9.00 and set a "buy" rating for the company in a research report on Thursday, November 6th. Bank of America reiterated an "underperform" rating and issued 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. dropped their price objective on ACV Auctions from $18.00 to $11.00 and set an "overweight" rating for the company in a report on Thursday, November 6th. Finally, Citigroup reduced their target price on ACV Auctions from $17.00 to $13.00 and set a "buy" rating on the stock in a report on Friday, November 21st. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $11.75.
View Our Latest Analysis on ACVA
Hedge Funds Weigh In On ACV Auctions
Several hedge funds and other institutional investors have recently modified their holdings of ACVA. William Blair Investment Management LLC boosted its stake in ACV Auctions by 3.3% in the third quarter. William Blair Investment Management LLC now owns 11,471,709 shares of the company's stock valued at $113,685,000 after buying an additional 362,003 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of ACV Auctions by 0.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,143,400 shares of the company's stock worth $148,306,000 after acquiring an additional 58,570 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of ACV Auctions by 301.0% in the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company's stock valued at $118,331,000 after purchasing an additional 5,475,874 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of ACV Auctions by 30.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company's stock valued at $62,803,000 after purchasing an additional 1,475,932 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in ACV Auctions by 14.1% during the 3rd quarter. Alliancebernstein L.P. now owns 6,332,313 shares of the company's stock worth $62,753,000 after purchasing an additional 784,411 shares in the last quarter. Institutional investors own 88.55% of the company's stock.
About ACV Auctions
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
