The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. CCC Intelligent Solutions Holdings Inc. shares valued at $162,457,490 were sold by ADVENT INTERNATIONAL CORP/MA on Apr 11. At $9.28 per share, ADVENT INTERNATIONAL CORP/MA sold 17,506,195 shares. The insider’s holdings dropped to 8,238,944 shares worth approximately $76.54 million following the completion of this transaction.
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Also, Wei Eric sold 17,506,195 shares, netting a total of over 162,457,490 in proceeds. Following the sale of shares at $9.28 each, the insider now holds 8,238,944 shares.
Before that, Young Lauren had sold 17,506,195 shares from its account. In a trade valued at $162,457,490, the Director traded CCC Intelligent Solutions Holdings Inc. shares for $9.28 each. Upon closing the transaction, the insider’s holdings decreased to 17,506,195 shares, worth approximately $76.54 million.
As published in their initiating research note from BofA Securities on June 03, 2022, CCC Intelligent Solutions Holdings Inc. [CCCS] has been a Buy and the price target has been revised to $13. This represents a 28.54% premium over Wednesday’s closing price. Analysts at Goldman started covering the stock with ‘”a Neutral”‘ outlook in a report released in late April. As of December 14, 2021, JP Morgan has decreased its “Neutral” rating to a “an Underweight” for CCCS.
Analyzing CCCS’s Price Performance
On Wednesday, CCC Intelligent Solutions Holdings Inc. [NYSE: CCCS] rose 0.54% to $9.29. The stock’s lowest price that day was $9.10, but it reached a high of $9.58 in the same session. During the last five days, there has been a surge of approximately 8.53%. Over the course of the year, CCC Intelligent Solutions Holdings Inc. shares have dropped approximately -18.44%. Shares of the company reached a 52-week high of $11.54 on 04/04/22 and a 52-week low of $7.41 on 05/12/22. A 50-day SMA is recorded $9.01, while a 200-day SMA reached $10.56. Nevertheless, trading volume fell to 1.79 million shares from 1.55 million shares the previous day.
Support And Resistance Levels for CCC Intelligent Solutions Holdings Inc. (CCCS)
According to the 24-hour chart, there is a support level at 9.07, which, if violated, would cause prices to drop to 8.84. In the upper region, resistance lies at 9.55. The next price resistance is at 9.80. RSI (Relative Strength Index) is 53.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.01, which suggests the price will decrease in the coming days. Percent R is at 40.34%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of CCC Intelligent Solutions Holdings Inc. (CCCS)?
According to T. Rowe Price Associates, Inc. filings, the company currently owns 17,084,151 shares, which is about 2.78% of the total CCCS shares outstanding. The investor’s shares have appreciated by 5,529,834 from its previous 13-F filing of 11554317.0 shares. With the completion of the sale, Capital Research & Management Co’s stake is now worth $86,653,077. The Vanguard Group, Inc. acquire a 148.05% interest valued at $84.93 million while Contour Asset Management LLC purchased a 885,055 stake. A total of 4,355,181 shares of CCC Intelligent Solutions Holdings Inc. were bought by Fidelity Management & Research Co during the quarter, and -72,391 were sold by Janus Henderson Investors US LLC. In its current portfolio, Whale Rock Capital Management LLC holds 4,590,182 shares valued at $41.08 million.
In terms of CCC Intelligent Solutions Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $12.17 in the next 12 months, up nearly 29.87% from the previous closing price of $9.24. Analysts anticipate CCC Intelligent Solutions Holdings Inc. stock to reach $15.00 by 2022, with the lowest price target being $10.00. In spite of this, 7 analysts ranked CCC Intelligent Solutions Holdings Inc. stock as an Overweight at the end of 2022.