True North Advisors LLC Sells 8,435 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

True North Advisors LLC reduced its holdings in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,257 shares of the company’s stock after selling 8,435 shares during the period. True North Advisors LLC’s holdings in ACV Auctions were worth $1,107,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ACVA. Dimensional Fund Advisors LP increased its stake in ACV Auctions by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,103,770 shares of the company’s stock worth $38,394,000 after purchasing an additional 163,380 shares during the period. Amalgamated Bank increased its stake in shares of ACV Auctions by 18.0% in the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after buying an additional 782 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in ACV Auctions during the 2nd quarter valued at $225,000. Sei Investments Co. boosted its position in ACV Auctions by 13.0% during the 2nd quarter. Sei Investments Co. now owns 357,437 shares of the company’s stock valued at $6,523,000 after buying an additional 41,090 shares during the period. Finally, Engle Capital Management L.P. grew its holdings in ACV Auctions by 11.6% in the 2nd quarter. Engle Capital Management L.P. now owns 1,563,000 shares of the company’s stock worth $28,525,000 after acquiring an additional 163,000 shares during the last quarter. 88.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Michael Waterman sold 30,162 shares of ACV Auctions stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.53, for a total value of $619,225.86. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO William Zerella sold 32,500 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $21.65, for a total value of $703,625.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares in the company, valued at approximately $10,618,935.30. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,162 shares of company stock valued at $2,359,726. 8.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on ACVA shares. Jefferies Financial Group increased their target price on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective (up from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. B. Riley upped their target price on ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. JMP Securities reiterated a “market outperform” rating and issued a $25.00 price target on shares of ACV Auctions in a report on Monday, December 16th. Finally, Citigroup upped their price objective on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Three 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 company currently has an average rating of “Moderate Buy” and an average target price of $23.65.

ACV Auctions Stock Performance

Shares of ACVA opened at $21.44 on Thursday. The company has a market cap of $3.59 billion, a price-to-earnings ratio of -45.62 and a beta of 1.69. The business’s fifty day simple moving average is $21.57 and its two-hundred day simple moving average is $19.62. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $23.46. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25.

ACV Auctions 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.