Chief Sales Officer Michael Waterman buys $1 million of ACV Auctions Inc. (ACVA)

Michael Waterman, chief sales officer of ACV Auctions Inc., bought 214,600 shares on the open market on February 26, 2026 at an average of $4.66 a share, for a total of $1 million. The purchase was reported to the SEC on Form 4 on March 2, 2026.

It raised their holding by 61%, to 569,102 shares.

The purchase came after a fall: ACV Auctions Inc. stock was down 13.5% over the 13 weeks before.

1 other insider also bought at least $10,000 of ACVA within 30 days, which makes this a cluster buy.

In the 12 months up to this filing, ACV Auctions Inc. insiders reported 1 open-market purchase and 0 sales.

WallStPal Score: 63 out of 100, because of raised their holding by 61%; a large purchase; 1 other insider also bought; the stock had fallen 13.5% in the 13 weeks before.

What happened next: after 1 month the stock was up 7.3% (13.2 points better than the S&P 500); after 6 months the stock was up 59.4% (48.3 points better than the S&P 500). Based on weekly prices from the week of the purchase.

Our read

The first open-market purchase by Michael Waterman in our records. Insiders buy for many reasons and can be wrong; one purchase is a reason to look closer, not a reason to buy.

Source: SEC Form 4 filing ↗. This story was written automatically from the filing and weekly price data. Information, not investment advice.

Examples

Big insider purchases have made news before. In January 2016, with bank stocks falling, JPMorgan Chase CEO Jamie Dimon bought 500,000 JPMorgan shares, about $26 million of his own money, and the purchase was widely reported as a sign of confidence.

Explain it like I'm 13

Michael Waterman helps run ACV Auctions Inc.. Spending $1 million of their own money on the company's stock is like a coach buying a big stack of tickets to their own team's games: it suggests they think the team will do well. It is not a promise, and insiders can be wrong.

More: all ACVA insider trades · Michael Waterman's track record