Insider Selling: ACV Auctions Inc. (NASDAQ:ACVA) Director Sells 50,018 Shares of Stock

ACV Auctions Inc. (NASDAQ:ACVA) Director Brian Hirsch sold 50,018 shares of the company’s stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $20.13, for a total transaction of $1,006,862.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Brian Hirsch also recently made the following trade(s):

  • On Thursday, September 2nd, Brian Hirsch sold 123,518 shares of ACV Auctions stock. The stock was sold at an average price of $20.05, for a total transaction of $2,476,535.90.

ACV Auctions stock opened at $19.39 on Friday. The firm has a 50 day moving average price of $21.01. ACV Auctions Inc. has a 1 year low of $17.85 and a 1 year high of $37.77.

ACV Auctions (NASDAQ:ACVA) last released its earnings results on Tuesday, August 10th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.10. The firm had revenue of $97.37 million for the quarter, compared to analyst estimates of $77.37 million. Analysts expect that ACV Auctions Inc. will post -0.69 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company bought a new position in shares of ACV Auctions during the 1st quarter worth approximately $519,000. Alliancebernstein L.P. bought a new position in shares of ACV Auctions during the 1st quarter worth approximately $3,639,000. BlackRock Inc. bought a new position in shares of ACV Auctions during the 1st quarter worth approximately $38,071,000. Jennison Associates LLC bought a new position in shares of ACV Auctions during the 1st quarter worth approximately $15,103,000. Finally, Iridian Asset Management LLC CT bought a new position in shares of ACV Auctions during the 1st quarter worth approximately $7,073,000. 26.03% of the stock is owned by institutional investors and hedge funds.

ACVA has been the subject of a number of research reports. JPMorgan Chase & Co. raised shares of ACV Auctions from a “neutral” rating to an “overweight” rating and set a $30.00 price target for the company in a report on Wednesday, August 4th. Zacks Investment Research cut shares of ACV Auctions from a “buy” rating to a “hold” rating in a research report on Tuesday, September 14th. Bank of America upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and increased their target price for the stock from $33.00 to $35.00 in a research report on Friday, August 13th. Citigroup upgraded shares of ACV Auctions from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $29.00 to $23.00 in a research report on Monday, August 23rd. Finally, Jefferies Financial Group assumed coverage on shares of ACV Auctions in a research report on Friday, July 23rd. They set a “buy” rating and a $41.00 price target for the company. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $34.73.

About ACV Auctions

ACV Auctions, Inc, operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. It also provides data services that offer transparent and accurate vehicle information to customers. ACV Auctions, Inc was incorporated in 2014 and is based in Buffalo, New York.

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

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