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Marc Fredman, the Senior Vice President and Chief Strategy Officer of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS), has recently engaged in significant trading activity according to the latest SEC filings. Fredman completed a series of stock transactions, including both acquisitions and disposals of the company’s common stock.
On March 14, Fredman acquired a total of 307,536 shares of CCC Intelligent Solutions Holdings at a purchase price of $2.50 per share, totaling approximately $2.12 million. Subsequently, on the same day, he sold 324,952 shares at a weighted average price of $12.1518, with individual transactions varying between $12.0550 and $12.2800. This sale amounted to nearly $3.95 million.
The trading activity continued on March 15, where Fredman again purchased 300,894 shares at the standard price of $2.50 per share. However, he then disposed of the same number of shares at a weighted average price of $11.8139, with prices ranging from $11.7150 to $12.0400, resulting in a sale value of over $3.55 million.
On March 18, Fredman made his final reported transactions for the period, acquiring 239,990 shares at $2.50 each and selling them at a weighted average price of $11.8388, within a range of $11.7700 to $11.9800, totaling approximately $2.84 million.
Overall, the sales of non-derivative securities by Marc Fredman during this period amounted to over $10.34 million, at prices that varied according to market conditions on the day of each transaction. These transactions were conducted automatically under a Rule 10b5-1 trading plan, which Fredman had adopted on November 17, 2023, allowing company insiders to set up a predetermined plan to buy or sell company stock.
Investors often monitor insider trading activities as they can provide insights into an executive’s perspective on the company’s future prospects. However, these transactions are subject to strict regulations, and the reasons behind them can vary, ranging from personal financial management to strategic corporate planning.
CCC Intelligent Solutions Holdings Inc. specializes in prepackaged software services and is recognized for providing innovative solutions in the tech industry. The company’s stock is publicly traded on the New York Stock Exchange under the ticker symbol CCCS.
InvestingPro Insights
In the wake of Marc Fredman’s recent stock transactions, investors looking at CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) may find the following real-time data and InvestingPro Tips informative. The company’s Market Cap stands at a robust $7.13 billion, reflecting its significant presence in the prepackaged software services industry. Moreover, the Gross Profit Margin for the last twelve months as of Q4 2023 is impressively high at 76.53%, which underscores the company’s ability to maintain profitability in its core operations.
An InvestingPro Tip to note is that management has been actively buying back shares, which can be an indicator of the leadership’s confidence in the company’s valuation and future performance. Additionally, CCC Intelligent Solutions Holdings is expected to see its net income grow this year, offering a potential upside for investors considering the stock’s future earnings potential.
For those interested in a more comprehensive analysis, there are 11 additional InvestingPro Tips available for CCC Intelligent Solutions Holdings at https://www.biedexmarkets.com/pro/CCCS. These tips can provide deeper insights into the company’s financial health and market position. To access these valuable resources, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Lastly, it is important to consider the company’s valuation multiples. Despite a negative P/E Ratio of -79.07, analysts predict that CCC Intelligent Solutions Holdings will be profitable this year, which could signal a turnaround and a potential re-rating of the stock by the market.
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