ACV Auctions Inc. (NASDAQ:ACVA) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lowered its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,333 shares of the company’s stock after selling 1,066 shares during the period. Parkside Financial Bank & Trust’s holdings in ACV Auctions were worth $202,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of 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 last quarter. KBC Group NV boosted its stake in shares of ACV Auctions by 80.4% during the fourth quarter. KBC Group NV now owns 7,406 shares of the company’s stock valued at $160,000 after acquiring an additional 3,300 shares during the last quarter. Verdence Capital Advisors LLC acquired a new stake in shares of ACV Auctions during the third quarter valued at $206,000. Icon Wealth Advisors LLC lifted its position in ACV Auctions by 13.5% during the third quarter. Icon Wealth Advisors LLC now owns 11,048 shares of the company’s stock worth $225,000 after buying an additional 1,317 shares during the period. Finally, Versor Investments LP purchased a new position in ACV Auctions during the fourth quarter worth about $262,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

ACV Auctions Price Performance

ACVA stock opened at $16.06 on Friday. The company has a market capitalization of $2.69 billion, a PE ratio of -32.78 and a beta of 1.69. The stock’s 50 day moving average is $20.71 and its two-hundred day moving average is $20.14. 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 52-week low of $14.76 and a 52-week high of $23.46.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The company had revenue of $159.51 million for the quarter, compared to the consensus estimate of $156.77 million. Analysts predict that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ACVA shares. Stephens upgraded ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Needham & Company LLC reduced their target price on ACV Auctions from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Citigroup raised their price objective on ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Piper Sandler raised their price objective on ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Barrington Research restated an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, ACV Auctions currently has a consensus rating of “Moderate Buy” and an average target price of $23.35.

Insider Transactions at ACV Auctions

In other news, CFO William Zerella sold 32,500 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $21.65, for a total transaction of $703,625.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Waterman sold 30,162 shares of the stock in a transaction that occurred 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 sale, the insider now owns 314,738 shares in the company, valued at $6,461,571.14. The trade was a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,662 shares of company stock worth $1,935,451. 8.50% of the stock is currently owned by company insiders.

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.