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

Parkside Financial Bank & Trust reduced its holdings in ACV Auctions Inc. (NASDAQ:ACVA) by 10.3% during the 4th quarter, Holdings Channel reports. The fund owned 9,333 shares of the company’s stock after selling 1,066 shares during the quarter. Parkside Financial Bank & Trust’s holdings in ACV Auctions were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ACVA. Creative Planning increased its position in ACV Auctions by 129.4% in the 3rd quarter. Creative Planning now owns 27,935 shares of the company’s stock valued at $568,000 after acquiring an additional 15,758 shares during the period. Blue Trust Inc. increased its position in ACV Auctions by 165.2% in the 3rd 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. Harbor Capital Advisors Inc. increased its position in ACV Auctions by 383.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 153,050 shares of the company’s stock valued at $3,112,000 after acquiring an additional 121,411 shares during the period. Principal Financial Group Inc. increased its position in ACV Auctions by 4.9% in the 3rd quarter. Principal Financial Group Inc. now owns 64,925 shares of the company’s stock valued at $1,320,000 after acquiring an additional 3,022 shares during the period. Finally, BloombergSen Inc. increased its position in ACV Auctions by 52.7% in the 3rd quarter. BloombergSen Inc. now owns 45,260 shares of the company’s stock valued at $920,000 after acquiring an additional 15,616 shares during the period. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACVA has been the subject of a number of research reports. Needham & Company LLC decreased their price target on ACV Auctions from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. B. Riley increased their price target on ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Citigroup increased their price target on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Barrington Research reaffirmed an “outperform” rating and set a $23.00 price target on shares of ACV Auctions in a research note on Monday, November 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price target on shares of ACV Auctions in a research note on Monday, December 16th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, ACV Auctions currently has a consensus rating of “Moderate Buy” and an average price target of $23.35.

Insider Transactions at ACV Auctions

In other news, CFO William Zerella sold 32,500 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $21.65, for a total value of $703,625.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares in the company, valued at $10,618,935.30. This represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Waterman sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total value of $304,050.00. Following the completion of the sale, the insider now owns 311,354 shares of the company’s stock, valued at $6,311,145.58. The trade was a 4.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,662 shares of company stock valued at $1,935,451 in the last three months. 8.50% of the stock is currently owned by corporate insiders.

ACV Auctions Stock Performance

ACVA opened at $16.06 on Friday. The firm has a market cap of $2.69 billion, a PE ratio of -32.78 and a beta of 1.69. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $20.71 and a 200-day simple moving average of $20.14. ACV Auctions Inc. has a fifty-two week low of $14.76 and a fifty-two week high of $23.46.

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

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.