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 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,802,404 shares of the company’s stock after selling 284,318 shares during the period. Riverbridge Partners LLC owned about 2.27% of ACV Auctions worth $82,132,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in shares of ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock valued at $29,000 after buying an additional 884 shares during the last quarter. MCF Advisors LLC lifted 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 valued at $30,000 after purchasing an additional 765 shares during the last quarter. Park Place Capital Corp boosted its position in ACV Auctions by 34.1% during the third 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 increased 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 acquired a new position in shares of ACV Auctions in the third quarter valued at $206,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

Insider Activity at ACV Auctions

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

ACV Auctions Trading Down 3.6 %

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

Wall Street Analysts Forecast Growth

ACVA has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price (up previously from $26.00) on shares of ACV Auctions in a report on Thursday, December 26th. JMP Securities reissued a “market outperform” rating and set a $25.00 target price on shares of ACV Auctions in a report on Monday, December 16th. B. Riley lifted their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Citigroup increased their target price on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Stephens started coverage on ACV Auctions in a research note on Wednesday. They issued an “equal weight” rating and a $20.50 price target for the company. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, ACV Auctions currently has a consensus rating of “Moderate Buy” and an average target price of $23.65.

ACV Auctions Company Profile

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.