ACV Auctions’ chief sales officer Waterman sells $551,140 in stock

ACV Auctions Inc. NASDAQ:ACVA Chief Sales Officer Michael Waterman sold 34,339 shares of common stock on July 8, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at prices ranging from $16.00 to $16.22, with an average price of $16.05, netting $551,140. The transaction occurred near the stock’s current trading price of $16.51, with InvestingPro data showing analyst targets ranging from $16 to $28 per share.

The transaction was executed under a pre-arranged Rule 10b5-1 trading plan adopted by Waterman on December 10, 2024.

On the same day, Waterman also exercised options to acquire 21,429 shares of ACV Auctions’ common stock at a price of $0.14 per share, for a total value of approximately $3,000.

Following these transactions, Waterman directly owns 379,957 shares of ACV Auctions.

In other recent news, ACV Auctions Inc. reported strong first-quarter 2025 financial results, with revenue reaching $183 million, surpassing forecasts of $182.24 million. The company’s adjusted EBITDA exceeded guidance at $14 million, driven by a 25% year-over-year increase in revenue. Goldman Sachs responded to these results by raising ACV Auctions’ price target from $25 to $26, maintaining a Buy rating. The firm highlighted ACV’s expanding presence in the dealer wholesale market and the successful performance of its Transport and Capital services as key growth drivers.

Meanwhile, JMP Securities maintained its Market Outperform rating for ACV Auctions, emphasizing the company’s technological advancements and improving scale as factors that could enable it to outperform the broader automotive market. Piper Sandler also expressed optimism in the automotive sector, raising its price target for Carvana (NYSE:CVNA) shares to $340 from $315 while retaining an Overweight rating. Analysts at Piper Sandler believe Carvana is positioned for significant revenue growth, expecting a 25%-35% increase despite market uncertainties.

Carvana’s low market share is seen as an opportunity for expansion, with Piper Sandler noting the company’s potential to leverage operational expenditure. Both ACV Auctions and Carvana are recognized for their technological innovations in the automotive industry, with analysts forecasting continued growth and market share gains for both companies. These recent developments reflect the ongoing transformation in the automotive market, driven by technology and strategic initiatives.

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