Moody National Bank Trust Division Buys 31,094 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

Moody National Bank Trust Division raised its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 64.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 79,199 shares of the company’s stock after buying an additional 31,094 shares during the period. Moody National Bank Trust Division’s holdings in ACV Auctions were worth $1,711,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Park Place Capital Corp grew its position in shares of ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock valued at $56,000 after acquiring an additional 706 shares during the period. MCF Advisors LLC lifted its position in ACV Auctions by 107.0% during the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after purchasing an additional 765 shares in the last quarter. Amalgamated Bank grew its holdings in ACV Auctions by 18.0% during 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 period. Blue Trust Inc. grew its holdings in 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 purchasing an additional 884 shares during the period. Finally, Icon Wealth Advisors LLC increased its position in ACV Auctions by 13.5% in 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 in the last quarter. Institutional investors own 88.55% of the company’s stock.

Insider Transactions at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $610,675.00. Following the completion of the transaction, the chief financial officer now owns 490,482 shares in the company, valued at $9,216,156.78. This trade represents a 6.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Waterman sold 30,162 shares of the company’s 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 directly owns 314,738 shares in the company, valued at $6,461,571.14. This trade represents a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,663 shares of company stock valued at $3,308,640. 8.50% of the stock is currently owned by insiders.

ACV Auctions Price Performance

NASDAQ ACVA traded up $0.05 on Monday, reaching $20.80. The company had a trading volume of 634,216 shares, compared to its average volume of 1,087,493. The stock has a market capitalization of $3.49 billion, a PE ratio of -44.26 and a beta of 1.69. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $23.46. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average price is $21.26 and its 200 day moving average price is $19.44.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ACVA. JMP Securities reiterated a “market outperform” rating and set a $25.00 price objective on shares of ACV Auctions in a research note on Monday, December 16th. Barrington Research reissued an “outperform” rating and issued a $23.00 price objective on shares of ACV Auctions in a research note on Monday, November 4th. Piper Sandler lifted their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Citigroup increased their price target on ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, B. Riley boosted their price objective on ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.00.

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.