Michael Waterman Sells 30,162 Shares of ACV Auctions Inc. (NASDAQ:ACVA) Stock

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 30,162 shares of ACV Auctions stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total value of $619,225.86. Following the transaction, the insider now owns 314,738 shares of the company’s stock, valued at $6,461,571.14. This trade represents a 8.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Michael Waterman also recently made the following trade(s):

• On Tuesday, October 15th, Michael Waterman sold 18,001 shares of ACV Auctions stock. The shares were sold at an average price of $18.79, for a total value of $338,238.79.

ACV Auctions Trading Down 1.8 %

NASDAQ:ACVA opened at $20.75 on Friday. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $23.46. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $21.26 and its 200 day moving average is $19.43. The stock has a market capitalization of $3.48 billion, a PE ratio of -44.15 and a beta of 1.69.

Institutional Trading of ACV Auctions

Several hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in ACV Auctions by 33.1% in the 2nd quarter. Principal Financial Group Inc. now owns 61,903 shares of the company’s stock worth $1,130,000 after acquiring an additional 15,390 shares during the last quarter. Rhumbline Advisers raised its position in shares of ACV Auctions by 17.0% in the second quarter. Rhumbline Advisers now owns 209,976 shares of the company’s stock valued at $3,832,000 after purchasing an additional 30,450 shares during the period. Arizona State Retirement System lifted its stake in shares of ACV Auctions by 10.4% during the 2nd quarter. Arizona State Retirement System now owns 41,303 shares of the company’s stock valued at $754,000 after buying an additional 3,881 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in ACV Auctions by 4.1% in the 2nd quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock worth $91,499,000 after buying an additional 198,228 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in ACV Auctions by 24.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 138,981 shares of the company’s stock valued at $2,536,000 after buying an additional 27,091 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ACVA has been the subject of a number of analyst reports. Citigroup increased their price target on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target (up from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. Raymond James started coverage on shares of ACV Auctions in a research report on Friday, September 27th. They issued a “market perform” rating and a $22.00 price objective for the company. 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. Finally, B. Riley upped their target price on ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.00.

About ACV Auctions

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.