Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. ACV Auctions Inc. shares valued at $37,370 were sold by Waterman Michael on May 02. At $12.75 per share, Waterman Michael sold 2,931 shares. The insider’s holdings dropped to 66,964 shares worth approximately $0.58 million following the completion of this transaction.
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Also, Anderson Craig Eric sold 16,535 shares, netting a total of over 332,023 in proceeds. Following the sale of shares at $20.08 each, the insider now holds 0 shares.
Before that, Anderson Craig Eric had sold 1,900 shares from its account. In a trade valued at $38,000, the CCDSO and Chief Legal Officer traded ACV Auctions Inc. shares for $20.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,900 shares, worth approximately $0.0.
Analysts at Barrington Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in early June. Earlier on March 02, 2022, Stephens upgraded its rating. Their new recommendation was “an Overweight” for ACVA stock which previously was a “an Equal-weight”.
Analyzing ACVA’s Price Performance
On Wednesday, ACV Auctions Inc. [NASDAQ: ACVA] rose 2.24% to $8.66. The stock’s lowest price that day was $8.32, but it reached a high of $8.8725 in the same session. During the last five days, there has been a drop of approximately -3.78%. Over the course of the year, ACV Auctions Inc. shares have dropped approximately -54.03%. Shares of the company reached a 52-week high of $19.73 on 01/04/22 and a 52-week low of $6.10 on 06/30/22. A 50-day SMA is recorded $8.07, while a 200-day SMA reached $11.56. Nevertheless, trading volume fell to 1.2 million shares from 1.02 million shares the previous day.
Support And Resistance Levels for ACV Auctions Inc. (ACVA)
According to the 24-hour chart, there is a support level at 8.36, which, if violated, would cause prices to drop to 8.06. In the upper region, resistance lies at 8.91. The next price resistance is at 9.17. RSI (Relative Strength Index) is 50.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.34, which suggests the price will decrease in the coming days. Percent R is at 65.43%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is ACV Auctions Inc. subject to short interest?
Stocks of ACV Auctions Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 3.12 million shares to 7.4 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.28 million shares. A jump of 42.16% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.43 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.43.
Which companies own the most shares of ACV Auctions Inc. (ACVA)?
According to ArrowMark Colorado Holdings LLC filings, the company currently owns 15,778,485 shares, which is about 13.70% of the total ACVA shares outstanding. The investor’s shares have appreciated by 3,444,431 from its previous 13-F filing of 12334054.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $86,042,295. Atreides Management LP acquire a 145.74% interest valued at $67.54 million while BlackRock Fund Advisors purchased a 4,991,980 stake. A total of 1,175,473 shares of ACV Auctions Inc. were bought by Iridian Asset Management LLC during the quarter, and -1,248,900 were sold by New York State Common Retirement. In its current portfolio, Massachusetts Financial Services holds 3,798,564 shares valued at $32.33 million.
In terms of ACV Auctions Inc. share price expectations, FactSet research, analysts set an average price target of $15.81 in the next 12 months, up nearly 77.1% from the previous closing price of $8.47. Analysts anticipate ACV Auctions Inc. stock to reach $22.50 by 2022, with the lowest price target being $10.00. In spite of this, 15 analysts ranked ACV Auctions Inc. stock as a Buy at the end of 2022. On March 01, 2022, Needham assigned a price target of “a Buy” to the stock and initiated coverage with a $20.