ACV auctions chief sales officer sells $1.87 million in stock

BUFFALO, NY—Michael Waterman, Chief Sales Officer of ACV Auctions Inc. (NASDAQ:ACVA), recently executed a significant stock transaction involving the company’s Class A common stock. According to a recent SEC filing, Waterman sold 115,987 shares on March 25, 2025, at an average price of $16.10 per share, totaling approximately $1.87 million. The stock, which currently trades at $14.60, appears undervalued according to InvestingPro analysis.

The sale was conducted under a pre-established Rule 10b5-1 trading plan, which Waterman entered into on December 10, 2024. The shares were sold in multiple transactions, with prices ranging from $16.00 to $16.31. Following this transaction, Waterman retains ownership of 327,564 shares of ACV Auctions. InvestingPro data shows the company’s stock has experienced significant volatility, with a beta of 1.73 and a 25% decline over the past six months.

In addition to the sale, Waterman exercised options to acquire 100,000 shares at a price of $0.06 per share, reflecting a total transaction value of $6,000. This exercise increased his total holdings to 443,551 shares prior to the sale.

ACV Auctions, headquartered in Buffalo, NY, is a leading provider of digital marketplace solutions for the automotive industry.

In other recent news, ACV Auctions Inc. reported its fourth-quarter revenue at $160 million, surpassing the consensus estimate of $155.75 million and marking a 35% year-over-year increase. Despite this revenue beat, the company’s guidance for the first quarter of 2025 fell short of expectations, with projected revenues between $180-185 million compared to the consensus of $186.8 million. For the full year of 2025, ACV forecasts revenue of $765-785 million, which also misses the consensus estimate of $784.6 million. Piper Sandler upgraded ACV Auctions’ stock rating from Neutral to Overweight, setting a new price target of $20, citing stability in the used car market as a positive factor. However, analysts from Needham and Citizens JMP expressed caution, lowering their price targets to $25 and $22, respectively, due to the company’s softer guidance. ACV Auctions’ CEO highlighted the company’s strong market position and growth initiatives, despite a flat dealer wholesale market expected in 2025. The company also reported a significant improvement in Adjusted EBITDA, reaching $6 million in Q4, compared to a loss in the previous year. These developments reflect a mixed outlook for ACV Auctions, with strong past performance but cautious future guidance impacting investor sentiment.

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