ACV Auctions (NASDAQ:ACVA) Rating Reiterated by Barrington Research

Barrington Research reiterated their outperform rating on shares of ACV Auctions (NASDAQ:ACVA - Free Report) in a report released on Monday morning, Benzinga reports. They currently have a $23.00 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reissued a buy rating and issued a $23.00 price target on shares of ACV Auctions in a report on Thursday. JMP Securities boosted their price target on shares of ACV Auctions from $19.00 to $20.00 and gave the stock a market outperform rating in a report on Thursday. Finally, Piper Sandler boosted their price target on shares of ACV Auctions from $15.00 to $16.00 and gave the stock a neutral rating in a report on Thursday. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $20.36.

ACV Auctions Stock Performance

NASDAQ ACVA traded up $0.12 on Monday, hitting $17.41. 1,061,705 shares of the company's stock traded hands, compared to its average volume of 1,159,907. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.27. ACV Auctions has a 1-year low of $12.84 and a 1-year high of $19.54. The firm's 50-day moving average price is $18.02 and its two-hundred day moving average price is $15.81. The firm has a market capitalization of $2.85 billion, a PE ratio of -36.25 and a beta of 1.56.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.01. The firm had revenue of $118.38 million during the quarter, compared to analyst estimates of $117.62 million. ACV Auctions had a negative net margin of 15.28% and a negative return on equity of 13.50%. As a group, analysts expect that ACV Auctions will post -0.29 EPS for the current year.

Insider Activity

In other news, COO Vikas Mehta sold 200,000 shares of the business's stock in a transaction dated 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 transaction, the chief operating officer now owns 319,036 shares of the company's stock, valued at approximately $5,257,713.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other ACV Auctions news, insider Craig Eric Anderson sold 5,000 shares of the business's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $18.00, for a total transaction of $90,000.00. Following the sale, the insider now directly owns 202,797 shares in the company, valued at $3,650,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Vikas Mehta sold 200,000 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $16.48, for a total transaction of $3,296,000.00. Following the sale, the chief operating officer now owns 319,036 shares in the company, valued at $5,257,713.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,475,208 shares of company stock valued at $26,669,099. 8.50% of the stock is currently owned by insiders.

Institutional Trading of ACV Auctions

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in ACV Auctions by 8.6% during the third quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company's stock worth $194,445,000 after purchasing an additional 1,010,941 shares during the period. FMR LLC increased its stake in shares of ACV Auctions by 9.4% during the third quarter. FMR LLC now owns 11,763,945 shares of the company's stock worth $178,577,000 after buying an additional 1,011,236 shares during the period. Atreides Management LP increased its stake in shares of ACV Auctions by 5.8% during the third quarter. Atreides Management LP now owns 10,829,070 shares of the company's stock worth $164,385,000 after buying an additional 594,347 shares during the period. William Blair Investment Management LLC increased its stake in shares of ACV Auctions by 8.7% during the third quarter. William Blair Investment Management LLC now owns 4,369,867 shares of the company's stock worth $66,335,000 after buying an additional 350,865 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of ACV Auctions by 11.0% during the first 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. 88.55% of the stock is currently 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.