Riverbridge Partners LLC Sells 284,318 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Riverbridge Partners LLC lessened its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 7.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,802,404 shares of the company’s stock after selling 284,318 shares during the period. Riverbridge Partners LLC’s holdings in ACV Auctions were worth $82,132,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in ACV Auctions by 165.2% during the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after buying an additional 884 shares in the last quarter. MCF Advisors LLC boosted its holdings in ACV Auctions by 107.0% during the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after acquiring an additional 765 shares during the last quarter. Park Place Capital Corp grew its stake in shares of ACV Auctions by 34.1% in the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after acquiring an additional 706 shares in the last quarter. Amalgamated Bank raised its holdings in shares of ACV Auctions by 18.0% in the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after purchasing an additional 782 shares during the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of ACV Auctions in the third quarter valued at about $206,000. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Trading Down 3.6 %

Shares of ACVA opened at $21.44 on Thursday. ACV Auctions Inc. has a twelve month low of $12.84 and a twelve month high of $23.46. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The stock has a market cap of $3.59 billion, a PE ratio of -45.62 and a beta of 1.69. The business’s 50-day moving average price is $21.57 and its 200-day moving average price is $19.62.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price (up previously from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. Piper Sandler raised their price objective on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Stephens started coverage on shares of ACV Auctions in a research note on Wednesday. They set an “equal weight” rating and a $20.50 price target for the company. Citigroup upped their price objective on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Barrington Research reissued an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.65.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, insider Michael Waterman sold 30,162 shares of ACV Auctions stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total transaction of $619,225.86. Following the transaction, the insider now directly owns 314,738 shares of the company’s stock, valued at approximately $6,461,571.14. This trade represents a 8.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $22.41, for a total transaction of $728,325.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares of the company’s stock, valued at approximately $10,991,701.62. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,162 shares of company stock worth $2,359,726 over the last three months. 8.50% of the stock is owned by insiders.

About ACV Auctions

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company’s marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green’s seller assurance service for against claims related to defects in the vehicle.