True North Advisors LLC Acquires 7,117 Shares of ACV Auctions Inc. $ACVA

True North Advisors LLC grew its holdings in ACV Auctions Inc. (NASDAQ:ACVA) by 11.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,301 shares of the company’s stock after purchasing an additional 7,117 shares during the period. True North Advisors LLC’s holdings in ACV Auctions were worth $1,124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ACVA. Brighton Jones LLC purchased a new position in ACV Auctions during the fourth quarter valued at approximately $392,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in ACV Auctions by 27.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 269,394 shares of the company’s stock valued at $5,819,000 after acquiring an additional 58,138 shares in the last quarter. Mackenzie Financial Corp purchased a new position in ACV Auctions in the 4th quarter worth approximately $206,000. Integrated Advisors Network LLC purchased a new position in ACV Auctions in the 4th quarter worth approximately $200,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in ACV Auctions in the 4th quarter worth approximately $4,026,000. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Trading Down 2.2%

Shares of ACVA opened at $9.98 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. ACV Auctions Inc. has a twelve month low of $9.85 and a twelve month high of $23.46. The stock has a market capitalization of $1.72 billion, a P/E ratio of -20.36 and a beta of 1.68. The firm has a fifty day simple moving average of $12.15 and a two-hundred day simple moving average of $14.33.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ACVA. JMP Securities cut their price target on shares of ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 12th. JPMorgan Chase & Co. cut their price target on shares of ACV Auctions from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, July 17th. The Goldman Sachs Group cut their price target on shares of ACV Auctions from $26.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Stephens reduced their target price on shares of ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating on the stock in a report on Tuesday, August 12th. Finally, Needham & Company LLC lowered their price target on shares of ACV Auctions from $25.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, ACV Auctions has a consensus rating of “Moderate Buy” and a consensus target price of $19.67.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, insider Michael Waterman sold 34,339 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $16.05, for a total transaction of $551,140.95. Following the completion of the sale, the insider directly owned 379,957 shares in the company, valued at approximately $6,098,309.85. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Eric Anderson sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total transaction of $225,600.00. Following the sale, the insider owned 340,799 shares of the company’s stock, valued at approximately $5,125,616.96. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,089 shares of company stock valued at $794,433 over the last 90 days. Company insiders own 2.90% of the company’s stock.

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.