Here’s What You Should Look Up to ACV Auctions (ACVA)

Baron Funds, an asset management firm, published its “Baron Discovery Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly return of 3.13% was delivered by the fund’s institutional shares for the fourth quarter of 2021, which was better than the Russell 2000 Growth Index’s 0.01% return, but below the S&P 500 Index’s gain of 11.03% for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Baron Discovery Fund, in its Q4 2021 investor letter, mentioned ACV Auctions Inc. (NASDAQ: ACVA) and discussed its stance on the firm. ACV Auctions Inc. is a Buffalo, New York-based mobile application developer with a $2.4 billion market capitalization. ACVA delivered a -20.38% return since the beginning of the year and it closed at $15.92 per share on January 20, 2022.

Here is what Baron Discovery Fund has to say about ACV Auctions Inc. in its Q4 2021 investor letter:

“Many of our portfolio companies have been impacted by the wellpublicized problems in the global supply chain. It is our belief that as we move through 2022, we will see many of these issues be resolved. As a result, we expect the companies that were negatively impacted to restore their normalized growth trajectories. Portfolio companies that will benefit include ACV Auctions Inc., an online
platform that allows car dealers to purchase used car inventory, where a return to more normalized new car production will help stabilize the volume of used cars being sold in the market (which in turn will benefit ACV).”

Our calculations show that ACV Auctions Inc. (NASDAQ: ACVA) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. ACVA was in 22 hedge fund portfolios at the end of the third quarter of 2021, compared to 22 funds in the previous quarter. ACV Auctions Inc. (NASDAQ: ACVA) delivered a -24.62% return in the past 3 months.

In August 2021, we also shared another hedge fund’s views on ACVA in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.