Key Points
- Andrew Peer sold 1,750 shares of ACV Auctions on Jan. 15 at an average of $8.85 (~$15,487.50), lowering his holdings to 72,473 shares; he also sold 1,750 shares on Dec. 15 at $8.03.
- ACV Auctions stock opened at $8.77 (below its 200-day SMA of $10.31) and the company has a $1.51B market cap, negative net margin (-12.51%) and ROE, with quarterly revenue up 16.5% YoY and a consensus target price of $11.75.
- Institutional ownership is large: major funds like Wasatch Advisors materially increased stakes (Wasatch now owns ~7.3M shares) and institutions/hedge funds collectively own about 88.55% of ACVA.
ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) CAO Andrew Peer sold 1,750 shares of ACV Auctions stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $8.85, for a total transaction of $15,487.50. Following the completion of the sale, the chief accounting officer owned 72,473 shares of the company's stock, valued at $641,386.05. This represents a 2.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Andrew Peer also recently made the following trade(s):
- On Monday, December 15th, Andrew Peer sold 1,750 shares of ACV Auctions stock. The stock was sold at an average price of $8.03, for a total value of $14,052.50.
ACV Auctions Trading Down 2.3%
ACV Auctions stock opened at $8.77 on Friday. The business has a 50-day simple moving average of $7.76 and a two-hundred day simple moving average of $10.31. The company has a market cap of $1.51 billion, a P/E ratio of -17.90 and a beta of 1.63. ACV Auctions Inc. has a 52-week low of $4.95 and a 52-week high of $22.47. 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 (NASDAQ:ACVA - Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $199.56 million for 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 business's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.04 EPS. Analysts predict that ACV Auctions Inc. will post -0.07 EPS for the current year.
Hedge Funds Weigh In On ACV Auctions
Several hedge funds have recently modified their holdings of ACVA. Wasatch Advisors LP lifted 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 during the last quarter. SG Capital Management LLC purchased a new position in shares of ACV Auctions in the 3rd quarter worth approximately $17,103,000. ArrowMark Colorado Holdings LLC lifted its position in ACV Auctions by 30.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company's stock worth $62,803,000 after buying an additional 1,475,932 shares during the last quarter. Hawk Ridge Capital Management LP purchased a new position in ACV Auctions during the third quarter worth $14,502,000. Finally, Senvest Management LLC boosted its stake in ACV Auctions by 144.8% during the second quarter. Senvest Management LLC now owns 1,689,290 shares of the company's stock worth $27,400,000 after buying an additional 999,290 shares during the period. Hedge funds and other institutional investors own 88.55% of the company's stock.
Wall Street Analysts Forecast Growth
ACVA has been the subject of several analyst reports. Barclays upped their price objective on ACV Auctions to $7.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 4th. Needham & Company LLC cut their price target on ACV Auctions from $14.00 to $9.00 and set a "buy" rating for the company in a report on Thursday, November 6th. Barrington Research downgraded ACV Auctions from an "outperform" rating to a "market perform" rating in a research note on Thursday, November 6th. The Goldman Sachs Group cut their price objective on ACV Auctions from $21.00 to $13.00 and set a "buy" rating for the company in a research note on Friday, November 7th. 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 analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $11.75.
View Our Latest Report on ACVA
ACV Auctions Company Profile
(
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.
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