ACV Auctions (NASDAQ:ACVA) Sets New 12-Month Low - Should You Sell?

Key Points

• ACV Auctions' stock reached a new **52-week low** at $8.40 on Monday, with a trading volume of **331,482 shares**.
• Recent **analyst reports** have downgraded price targets, with Citigroup lowering theirs from $21.00 to $17.00, while the average target price is now **$19.27**.
• Insider **Craig Eric Anderson** sold 15,000 shares for $225,600, representing a **4.22% decrease** in their ownership stake in the company.

ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) shares reached a new 52-week low on Monday . The stock traded as low as $8.40 and last traded at $8.47, with a volume of 331482 shares traded. The stock had previously closed at $8.47.

Analysts Set New Price Targets

ACVA has been the topic of several recent research reports. Citigroup decreased their price target on shares of ACV Auctions from $21.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Bank of America decreased their price target on shares of ACV Auctions from $20.00 to $16.50 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. JPMorgan Chase & Co. decreased their price target on shares of ACV Auctions from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, July 17th. Needham & Company LLC decreased their price target on shares of ACV Auctions from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, October 7th. Finally, Stephens decreased their price target on shares of ACV Auctions from $16.00 to $11.50 and set an "equal weight" rating on the stock in a research report on Tuesday, August 12th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $19.27.

ACV Auctions Stock Up 1.0%

The company has a market capitalization of $1.47 billion, a PE ratio of -17.40 and a beta of 1.64. The company's 50 day moving average is $11.06 and its two-hundred day moving average is $13.92. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28.

Insiders Place Their Bets

In related news, insider Craig Eric Anderson sold 15,000 shares of the firm's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total transaction of $225,600.00. Following the completion of the transaction, the insider directly owned 340,799 shares of the company's stock, valued at approximately $5,125,616.96. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On ACV Auctions

A number of institutional investors and hedge funds have recently made changes to their positions in ACVA. Wasatch Advisors LP grew its stake in shares of ACV Auctions by 301.0% in the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company's stock worth $118,331,000 after buying an additional 5,475,874 shares in the last quarter. Nuveen LLC purchased a new position in shares of ACV Auctions in the 1st quarter worth $25,078,000. Vanguard Group Inc. grew its stake in shares of ACV Auctions by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 15,301,225 shares of the company's stock worth $215,594,000 after buying an additional 1,055,310 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of ACV Auctions in the 1st quarter worth $14,426,000. Finally, Senvest Management LLC grew its stake in shares of ACV Auctions by 144.8% in the 2nd quarter. Senvest Management LLC now owns 1,689,290 shares of the company's stock worth $27,400,000 after buying an additional 999,290 shares in the last quarter. 88.55% of the stock is owned by hedge funds and other institutional investors.

ACV Auctions Company Profile

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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