Analysts at Raymond James assumed coverage on shares of ACV Auctions (NASDAQ:ACVA – Get Free Report) in a research report issued on Friday, StockNewsAPI reports. The brokerage set a “market perform” rating and a $22.00 price target on the stock. Raymond James’ price objective suggests a potential upside of 7.53% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. JMP Securities upped their price target on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 17th. Barrington Research reiterated an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a report on Friday, August 16th. JPMorgan Chase & Co. upgraded shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $21.00 price objective for the company in a report on Monday, June 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $23.00 target price on shares of ACV Auctions in a research note on Monday, June 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.57.
View Our Latest Analysis on ACV Auctions
ACV Auctions Stock Down 1.4 %
ACVA stock traded down $0.28 during midday trading on Friday, hitting $20.46. The stock had a trading volume of 812,011 shares, compared to its average volume of 1,229,957. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of -42.63 and a beta of 1.55. The business has a 50-day moving average of $18.51 and a two-hundred day moving average of $18.20. ACV Auctions has a 52-week low of $12.84 and a 52-week high of $21.10.
ACV Auctions (NASDAQ:ACVA – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. The company had revenue of $160.62 million during the quarter, compared to analyst estimates of $156.33 million. As a group, equities research analysts forecast that ACV Auctions will post -0.36 earnings per share for the current fiscal year.
Insider Buying and Selling at ACV Auctions
In other news, insider Craig Eric Anderson sold 7,500 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $17.81, for a total value of $133,575.00. Following the transaction, the insider now directly owns 328,167 shares in the company, valued at approximately $5,844,654.27. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Andrew Peer sold 1,795 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $21.00, for a total transaction of $37,695.00. Following the completion of the sale, the vice president now directly owns 62,956 shares in the company, valued at $1,322,076. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Eric Anderson sold 7,500 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $17.81, for a total transaction of $133,575.00. Following the completion of the transaction, the insider now owns 328,167 shares in the company, valued at $5,844,654.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 741,663 shares of company stock worth $14,179,490. Insiders own 8.50% of the company’s stock.
Institutional Investors Weigh In On ACV Auctions
Several hedge funds and other institutional investors have recently modified their holdings of ACVA. Dimensional Fund Advisors LP lifted its holdings in ACV Auctions by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,846,726 shares of the company’s stock valued at $27,979,000 after purchasing an additional 329,854 shares in the last quarter. Comerica Bank lifted its stake in shares of ACV Auctions by 5,045.7% during the 1st quarter. Comerica Bank now owns 63,550 shares of the company’s stock valued at $1,193,000 after buying an additional 62,315 shares in the last quarter. Jennison Associates LLC boosted its holdings in ACV Auctions by 11.0% in the 1st quarter. Jennison Associates LLC now owns 3,954,432 shares of the company’s stock worth $74,225,000 after buying an additional 393,423 shares during the period. Congress Asset Management Co. MA increased its stake in ACV Auctions by 21.8% in the 1st quarter. Congress Asset Management Co. MA now owns 482,881 shares of the company’s stock worth $9,064,000 after buying an additional 86,525 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in ACV Auctions by 4.1% during the second quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock valued at $91,499,000 after acquiring an additional 198,228 shares during the period. 88.55% of the stock is currently owned by hedge funds and other institutional investors.
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.
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