ACV Auctions Inc. (NASDAQ:ACVA) COO Vikas Mehta Sells 78,259 Shares

ACV Auctions Inc. (NASDAQ:ACVAGet Free Report) COO Vikas Mehta sold 78,259 shares of ACV Auctions stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $17.97, for a total transaction of $1,406,314.23. Following the completion of the transaction, the chief operating officer now directly owns 321,475 shares in the company, valued at $5,776,905.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Vikas Mehta also recently made the following trade(s):

  • On Tuesday, March 5th, Vikas Mehta sold 333,497 shares of ACV Auctions stock. The stock was sold at an average price of $18.62, for a total transaction of $6,209,714.14.
  • On Thursday, February 22nd, Vikas Mehta sold 200,000 shares of ACV Auctions stock. The shares were sold at an average price of $16.48, for a total transaction of $3,296,000.00.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $18.51 on Thursday. ACV Auctions Inc. has a 12 month low of $11.58 and a 12 month high of $19.54. The firm has a market capitalization of $3.03 billion, a P/E ratio of -40.24 and a beta of 1.57. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $16.41 and a two-hundred day simple moving average of $15.22.

ACV Auctions (NASDAQ:ACVAGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The company had revenue of $118.38 million during the quarter, compared to analysts’ expectations of $117.62 million. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. On average, equities analysts forecast that ACV Auctions Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of ACV Auctions

Hedge funds have recently made changes to their positions in the stock. Congress Asset Management Co. MA raised its position in shares of ACV Auctions by 7.3% in the 4th quarter. Congress Asset Management Co. MA now owns 396,356 shares of the company’s stock worth $6,005,000 after purchasing an additional 26,915 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in ACV Auctions by 4.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 72,926 shares of the company’s stock worth $1,105,000 after buying an additional 3,427 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of ACV Auctions in the fourth quarter worth approximately $479,000. Legal & General Group Plc grew its holdings in shares of ACV Auctions by 7.9% during the fourth quarter. Legal & General Group Plc now owns 130,640 shares of the company’s stock valued at $1,979,000 after buying an additional 9,617 shares during the last quarter. Finally, Barclays PLC increased its position in shares of ACV Auctions by 338.8% during the fourth quarter. Barclays PLC now owns 201,804 shares of the company’s stock valued at $3,057,000 after acquiring an additional 155,817 shares in the last quarter. 88.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of ACV Auctions in a report on Thursday, February 22nd. JMP Securities reduced their target price on ACV Auctions from $20.00 to $19.00 and set a “market outperform” rating on the stock in a research note on Tuesday, January 16th. Finally, Northcoast Research upgraded ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a report on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, ACV Auctions presently has an average rating of “Moderate Buy” and a consensus target price of $20.21.

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About ACV Auctions

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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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Insider Buying and Selling by Quarter for ACV Auctions (NASDAQ:ACVA)

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