ACV Auctions Inc CFO William Zerella Sells 32,500 Shares
ACV Auctions Inc (NASDAQ:ACVA), an online automotive marketplace for dealers and commercial customers, has reported a significant insider sale according to a recent SEC filing. The company's Chief Financial Officer, William Zerella, sold 32,500 shares of the company on March 19, 2024. The transaction was executed at an average price of $18.4 per share, resulting in a total sale amount of $598,000.Over the past year, the insider has sold a total of 355,000 shares of ACV Auctions Inc and has not made any purchases of the stock. This latest transaction continues a trend of insider sales at the company, with a total of 53 insider sells and no insider buys occurring over the same timeframe.
The market capitalization of ACV Auctions Inc stands at $3.123 billion as of the date of the insider's recent sale. The stock's trading price on that day places the company's valuation above the GuruFocus Value (GF Value) estimate.
The GF Value of $15.78 suggests that ACV Auctions Inc is modestly overvalued with a price-to-GF-Value ratio of 1.17. The GF Value is determined by considering historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the company's historical returns and growth, and future business performance estimates from Morningstar analysts.ACV Auctions Inc operates as a digital marketplace for wholesale vehicle transactions and data services. The platform connects buyers and sellers of used vehicles, facilitating auctions with a suite of services that include vehicle inspections, logistics, and financing. The company's innovative approach to automotive wholesale has disrupted the traditional physical auction model, offering a more efficient and accessible method for dealers to buy and sell vehicles.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
