ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) CFO William Zerella sold 32,500 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $21.65, for a total transaction of $703,625.00. Following the sale, the chief financial officer now directly owns 490,482 shares in the company, valued at $10,618,935.30. This trade represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
William Zerella also recently made the following trade(s):
ACVA traded down $0.30 during trading on Tuesday, hitting $21.60. The company's stock had a trading volume of 1,259,211 shares, compared to its average volume of 1,264,890. The business's 50 day simple moving average is $20.66 and its 200-day simple moving average is $19.23. The firm has a market cap of $3.62 billion, a PE ratio of -45.96 and a beta of 1.70. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $23.46. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25.
A number of analysts have commented on ACVA shares. Citigroup lifted their target price on ACV Auctions from $22.00 to $27.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Needham & Company LLC restated a "buy" rating and set a $28.00 target price (up previously from $26.00) on shares of ACV Auctions in a research note on Thursday, December 26th. Barrington Research reiterated an "outperform" rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Monday, November 4th. JMP Securities restated a "market outperform" rating and set a $25.00 price objective on shares of ACV Auctions in a research report on Monday, December 16th. Finally, Jefferies Financial Group lifted their target price on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $23.80.
Get Our Latest Stock Report on ACV Auctions
Several hedge funds and other institutional investors have recently modified their holdings of ACVA. Massachusetts Financial Services Co. MA grew its holdings in ACV Auctions by 47.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,758,163 shares of the company's stock valued at $141,586,000 after purchasing an additional 2,502,064 shares during the period. Spyglass Capital Management LLC grew its stake in shares of ACV Auctions by 69.1% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,614,245 shares of the company's stock valued at $53,148,000 after acquiring an additional 1,068,356 shares during the period. Wellington Management Group LLP purchased a new stake in ACV Auctions in the 3rd quarter worth approximately $21,540,000. Bank of New York Mellon Corp raised its stake in ACV Auctions by 217.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,391,070 shares of the company's stock worth $25,387,000 after acquiring an additional 952,929 shares during the period. Finally, Driehaus Capital Management LLC lifted its holdings in ACV Auctions by 48.0% during the second quarter. Driehaus Capital Management LLC now owns 1,232,238 shares of the company's stock valued at $22,488,000 after purchasing an additional 399,402 shares in the last quarter. 88.55% of the stock is currently owned by hedge funds and other institutional investors.
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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