SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 7.7% Passive Stake in ACV Auctions Inc.
Beneficial Ownership Statement
FMR LLC and its Chairman and CEO, Abigail P. Johnson, have jointly filed an amended Schedule 13G, reporting a passive beneficial ownership of 7.7% of ACV Auctions Inc.'s Class A Common Stock as of December 31, 2024.
Summary
- FMR LLC and Abigail P. Johnson, its Chairman and CEO, have filed an Amendment No. 4 to Schedule 13G regarding their beneficial ownership in ACV Auctions Inc.
- As of December 31, 2024, FMR LLC and Abigail P. Johnson collectively beneficially own 12,205,496.98 shares of ACV Auctions Inc.'s Class A Common Stock.
- This aggregate amount represents 7.7% of the outstanding Class A Common Stock of ACV Auctions Inc.
- FMR LLC holds sole voting power over 12,009,720.89 shares and sole dispositive power over 12,205,496.98 shares.
- Abigail P. Johnson's beneficial ownership is attributed to her role as a Director, Chairman, and Chief Executive Officer of FMR LLC, and her family's predominant ownership of FMR LLC's voting shares.
- The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of ACV Auctions Inc.
- Several FMR LLC subsidiaries, including Fidelity Management & Research Company LLC, are identified as entities that beneficially own shares, with Fidelity Management & Research Company LLC owning 5% or greater of the outstanding shares.
Sentiment
Score: 6
Explanation: The sentiment is moderately positive. While a Schedule 13G is a routine disclosure, the maintenance of a significant stake by a prominent institutional investor like FMR LLC, and its CEO, can be viewed as a vote of confidence in ACV Auctions Inc. The passive nature of the investment means no immediate strategic changes are implied, but it signals long-term interest.
Positives
- A major institutional investor, FMR LLC, and its leadership maintain a significant passive stake (7.7%) in ACV Auctions Inc., indicating continued confidence in the company's long-term prospects.
- The filing confirms the investment is for passive purposes, suggesting FMR LLC views ACV Auctions Inc. as a sound investment without seeking to influence management or control.
Future Outlook
The document does not contain any forward-looking statements or guidance regarding ACV Auctions Inc.'s future performance or strategic direction, as it is solely a beneficial ownership disclosure.
Industry Context
This filing reflects a significant passive investment by a major asset manager in ACV Auctions Inc., an online automotive marketplace. Such investments by large institutional players like FMR LLC can signal market confidence in the digital transformation of the automotive wholesale industry, aligning with broader trends towards online platforms for vehicle transactions.
Related Party Transactions
- Abigail P. Johnson's beneficial ownership is linked to her role as Director, Chairman, and CEO of FMR LLC, and her family's predominant ownership of FMR LLC's Series B voting common shares, which represent 49% of the voting power of FMR LLC. This establishes a relationship between the individual and the corporate entity filing.
Stakeholder Impact
- Shareholders: The disclosure of a significant passive stake by a major institutional investor like FMR LLC may be viewed positively, potentially reinforcing investor confidence in ACV Auctions Inc.'s stock.
Key Dates
| Date | Description |
|---|---|
| 2023-01-03 | Effective date of Power of Attorney for FMR LLC and its direct and indirect subsidiaries. |
| 2023-01-26 | Effective date of Power of Attorney for Abigail P. Johnson. |
| 2023-01-31 | Date of Schedule 13G filing by FMR LLC where Abigail P. Johnson's power of attorney was incorporated by reference. |
| 2024-12-31 | Date of event which requires filing of this statement (reporting date for beneficial ownership). |
| 2025-02-11 | Signature date of the Schedule 13G Amendment No. 4 filing. |
Keywords
ACV Auctions Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Class A Common Stock, Institutional Investor, Passive Investment, SEC Filing
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