Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
BUFFALO, NY—William Zerella, Chief Financial Officer of ACV Auctions Inc. (NASDAQ:ACVA), recently sold 15,000 shares of the company’s Class A common stock. The shares were sold on March 11, 2025, at a weighted average price of $13.53 per share, amounting to a total transaction value of $202,950. The transaction comes as the company, currently valued at $2.4 billion, has seen its stock decline nearly 29% over the past six months.
This sale was conducted under a Rule 10b5-1 trading plan that Zerella had entered into on September 9, 2024. The shares were sold in multiple transactions, with prices ranging from $12.96 to $13.88 per share. Following this transaction, Zerella retains ownership of 766,266 shares in the company. According to InvestingPro data, the stock’s RSI suggests oversold conditions, while the company maintains strong liquidity with a current ratio of 1.56.
ACV Auctions, headquartered in Buffalo, New York, operates in the business services sector, providing an online platform for wholesale vehicle auctions. While not currently profitable, InvestingPro analysis indicates analysts expect the company to turn profitable this year, with 12 additional exclusive insights available to subscribers.
In other recent news, ACV Auctions Inc. reported its fourth-quarter revenue for 2024 at $160 million, surpassing the consensus estimate of $155.75 million and marking a 35% year-over-year increase. However, the company’s earnings per share (EPS) of ($0.16) fell short of the analyst estimate of ($0.01). Despite the revenue beat, ACV’s guidance for the first quarter of 2025 and the full year came in softer than expected, with projected revenues between $180-185 million and $765-785 million, respectively, both below consensus estimates. Analysts responded to the guidance with caution, leading Needham to lower its price target for ACV to $25.00 while maintaining a Buy rating, and Citizens JMP to reduce its target to $22.00, maintaining a Market Outperform rating.
Needham noted the company’s robust fourth-quarter performance but expressed concern over slowed momentum in February and cautious first-quarter guidance. ACV also highlighted advancements in AI-powered products and services, which are expected to drive future growth. CEO George Chamoun expressed satisfaction with the fourth-quarter results, emphasizing revenue growth and margin expansion, while remaining optimistic about ACV’s potential for market share gains. Despite positive financial results, investor concerns over economic uncertainties led to a decline in ACV’s stock.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.