True North Advisors LLC Trims Stock Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

True North Advisors LLC lowered its stake in ACV Auctions Inc. (NASDAQ:ACVA) by 14.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,257 shares of the company’s stock after selling 8,435 shares during the quarter. True North Advisors LLC’s holdings in ACV Auctions were worth $1,107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ACVA. Blue Trust Inc. raised 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 valued at $29,000 after acquiring an additional 884 shares during the period. MCF Advisors LLC lifted its holdings in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after purchasing an additional 765 shares in the last quarter. Park Place Capital Corp boosted its stake in 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 purchasing an additional 706 shares during the period. Amalgamated Bank grew its holdings in ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock valued at $93,000 after buying an additional 782 shares in the last quarter. Finally, Verdence Capital Advisors LLC bought a new stake in shares of ACV Auctions during the third quarter valued at approximately $206,000. 88.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ACVA has been the subject of several research analyst reports. Piper Sandler raised their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a report on Monday, November 4th. Jefferies Financial Group increased their price target on ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Citigroup lifted their price objective on ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $25.00 target price on shares of ACV Auctions in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.65.

Insider Transactions at ACV Auctions

In other news, CFO William Zerella sold 32,500 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $21.65, for a total transaction of $703,625.00. Following the completion of the sale, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at approximately $10,618,935.30. The trade was a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Waterman sold 30,162 shares of ACV Auctions stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total transaction of $619,225.86. Following the sale, the insider now owns 314,738 shares of the company’s stock, valued at $6,461,571.14. The trade was a 8.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,162 shares of company stock worth $2,359,726. 8.50% of the stock is currently owned by insiders.

ACV Auctions Stock Performance

NASDAQ ACVA opened at $21.44 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $23.46. The company has a market cap of $3.59 billion, a P/E 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.

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.