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

Moody National Bank Trust Division lifted its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 64.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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.

Other large investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its stake in shares of ACV Auctions by 4.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 159,699 shares of the company's stock valued at $3,449,000 after acquiring an additional 6,649 shares during the last quarter. JPMorgan Chase & Co. raised its position in ACV Auctions by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,167,615 shares of the company's stock worth $64,398,000 after purchasing an additional 311,465 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in ACV Auctions by 4.9% during the 3rd quarter. Principal Financial Group Inc. now owns 64,925 shares of the company's stock worth $1,320,000 after buying an additional 3,022 shares during the period. Franklin Resources Inc. grew its position in shares of ACV Auctions by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 40,935 shares of the company's stock valued at $768,000 after buying an additional 2,057 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of ACV Auctions by 2.0% during the third quarter. Geode Capital Management LLC now owns 3,517,088 shares of the company's stock worth $71,516,000 after acquiring an additional 67,969 shares during the last quarter. 88.55% of the stock is currently owned by institutional investors.

Insider Transactions at ACV Auctions

In other news, insider Michael Waterman sold 18,001 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total transaction of $338,238.79. Following the completion of the sale, the insider now directly owns 337,190 shares of the company's stock, valued at $6,335,800.10. The trade was a 5.07 % decrease in their ownership of the stock. The transaction 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 firm's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total transaction of $728,325.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares in the company, valued at approximately $10,991,701.62. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 160,663 shares of company stock valued at $3,308,640 over the last ninety days. 8.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on ACVA shares. Raymond James assumed coverage on ACV Auctions in a report on Friday, September 27th. They issued a "market perform" rating and a $22.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price objective (up from $26.00) on shares of ACV Auctions in a research report on Thursday, December 26th. B. Riley boosted their target price on shares of ACV Auctions from $24.00 to $27.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Barrington Research reiterated an "outperform" rating and set a $23.00 price target on shares of ACV Auctions in a report on Monday, November 4th. Finally, Piper Sandler boosted their price objective on ACV Auctions from $16.00 to $18.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.00.

ACV Auctions Stock Up 0.1 %

ACVA stock traded up $0.03 during trading on Monday, reaching $20.78. 1,620,717 shares of the stock were exchanged, compared to its average volume of 1,230,788. The firm's 50 day moving average is $21.33 and its 200 day moving average is $19.45. The firm has a market cap of $3.48 billion, a P/E ratio of -44.21 and a beta of 1.69. 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 Inc. has a twelve month low of $12.84 and a twelve month high of $23.46.

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.