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William Zerella, the Chief Financial Officer of ACV Auctions Inc. (NASDAQ:ACVA), recently sold 15,000 shares of the company’s Class A common stock. The sale comes as ACVA’s stock has shown strong momentum, with a 38% gain over the past six months according to InvestingPro data. The shares were sold at a weighted average price of $20.63, yielding a total transaction value of approximately $309,450. This sale was conducted under a Rule 10b5-1 trading plan, which Zerella had established on September 9, 2024. Following this transaction, Zerella retains ownership of 447,452 shares. With analyst price targets ranging from $18 to $28 and a consensus recommendation leaning bullish, InvestingPro subscribers can access 10+ additional exclusive insights about ACVA’s valuation and growth prospects through the comprehensive Pro Research Report.
In other recent news, ACV Auctions Inc. reported a record third-quarter revenue of $171 million in 2024, marking a 44% increase from the previous year, and raised its full-year revenue guidance to between $630 million and $634 million. Despite strong performance, ACV Auctions faces competitive uncertainty, according to Stephens analysts, who initiated coverage with an Equal Weight rating and a price target of $20.50. They suggest that the challenges within the competitive landscape of the used car industry might not be fully appreciated by investors.
On the other hand, Needham analysts have reiterated a Buy rating on ACV Auctions’ shares, increasing the price target to $28 from $26. They foresee unit growth and incremental margins improving in the fiscal year 2026 as ACV Auctions strengthens its leadership in dealer-to-dealer auctions. Similarly, Citi analysts maintain a Buy rating on the shares, raising the price target to $27.00, up from the previous $22.00, based on the company’s robust growth and dealer traction.
These are recent developments concerning ACV Auctions. The company’s performance has been evaluated by multiple analysts, with varying perspectives on its growth prospects and market position. It is important to note that these assessments are based on the current market dynamics and the company’s recent performance.
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