Acv auctions chief sales officer sells $304,050 in stock

Michael Waterman, Chief Sales Officer at ACV Auctions Inc. (NASDAQ:ACVA), recently sold 15,000 shares of Class A Common Stock. The shares were sold at an average price of $20.27, resulting in a total transaction value of $304,050. This transaction was executed on February 4, 2025, as part of a pre-established Rule 10b5-1 trading plan. The sale comes as ACVA’s stock has shown strong momentum, with a 38% gain over the past six months. According to InvestingPro data, analysts maintain a bullish outlook with price targets ranging from $18 to $28.

In addition to the sale, Waterman also exercised options to acquire 15,000 shares of Class B Common Stock, which were converted into Class A Common Stock. Following these transactions, Waterman holds 311,354 shares of Class A Common Stock.

The sale and option exercise reflect Waterman’s ongoing management of his equity stake in the company, which is a common practice among corporate executives.

In other recent news, ACV Auctions Inc. reported a record revenue of $171 million in the third quarter of 2024, marking a 44% increase from the previous year, and raised the full-year revenue guidance to between $630 million and $634 million. Despite this strong performance, Stephens analysts initiated coverage with an Equal Weight rating, citing competitive uncertainty and a speculative investment nature. In contrast, Needham analysts reiterated a Buy rating on ACV Auctions’ shares, highlighting the company’s durable growth potential and adjusting their price target to $28. Similarly, Citi also maintains a Buy rating, increasing the stock’s price target to $27.00 and noting the company’s robust growth and dealer traction.

These recent developments reflect differing views on ACV Auctions’ future performance. While Stephens analysts express caution due to the competitive landscape, Needham and Citi analysts remain optimistic about the company’s growth prospects. All analysts agree on the importance of ACV Auctions’ earnings and revenue, which will continue to be a focal point for investors.

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