Piper Sandler Raises ACV Auctions (NASDAQ:ACVA) Price Target to $16.00

ACV Auctions (NASDAQ:ACVAFree Report) had its price target boosted by Piper Sandler from $15.00 to $16.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently issued reports on the stock. Needham & Company LLC reissued a buy rating and set a $23.00 price objective on shares of ACV Auctions in a research report on Thursday, February 22nd. JMP Securities reaffirmed a market outperform rating and set a $19.00 price objective on shares of ACV Auctions in a research report on Wednesday, April 17th. Barrington Research reissued an outperform rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Monday, May 6th. Finally, Northcoast Research upgraded ACV Auctions from a neutral rating to a buy rating and set a $22.00 price target on the stock in a research report on Wednesday, January 10th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, ACV Auctions presently has a consensus rating of Moderate Buy and a consensus target price of $20.36.

View Our Latest Report on ACV Auctions

ACV Auctions Stock Down 1.0 %

ACVA opened at $17.29 on Thursday. The business’s 50-day moving average price is $18.02 and its 200-day moving average price is $15.81. The company has a current ratio of 1.62, a quick ratio of 2.12 and a debt-to-equity ratio of 0.27. ACV Auctions has a 12 month low of $12.84 and a 12 month high of $19.54. The company has a market cap of $2.83 billion, a P/E ratio of -36.02 and a beta of 1.56.

ACV Auctions (NASDAQ:ACVAGet Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. ACV Auctions had a negative net margin of 15.28% and a negative return on equity of 13.50%. The business had revenue of $118.38 million for the quarter, compared to analyst estimates of $117.62 million. On average, equities analysts expect that ACV Auctions will post -0.29 EPS for the current year.

Insider Buying and Selling at ACV Auctions

In related news, COO Vikas Mehta sold 200,000 shares of ACV Auctions stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $16.48, for a total value of $3,296,000.00. Following the completion of the sale, the chief operating officer now owns 319,036 shares of the company’s stock, valued at $5,257,713.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Vikas Mehta sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $16.48, for a total transaction of $3,296,000.00. Following the completion of the sale, the chief operating officer now directly owns 319,036 shares in the company, valued at $5,257,713.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Waterman sold 10,130 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $18.47, for a total transaction of $187,101.10. Following the completion of the transaction, the insider now owns 234,234 shares in the company, valued at $4,326,301.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,475,208 shares of company stock worth $26,669,099. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Blair William & Co. IL boosted its position in shares of ACV Auctions by 14.7% in the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock worth $238,000 after purchasing an additional 1,626 shares during the period. ProShare Advisors LLC boosted its holdings in ACV Auctions by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock worth $429,000 after buying an additional 1,798 shares during the period. TimesSquare Capital Management LLC raised its stake in ACV Auctions by 45.6% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,765,822 shares of the company’s stock valued at $33,144,000 after purchasing an additional 552,719 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of ACV Auctions by 6.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 111,890 shares of the company’s stock valued at $2,100,000 after buying an additional 6,325 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in ACV Auctions in the 1st quarter valued at $519,000. 88.55% of the stock is currently owned by institutional investors.

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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