Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. CCC Intelligent Solutions Holdings Inc shares valued at $2,054,046 were sold by Fredman Marc on Mar 19 ’24. At $11.86 per share, Fredman Marc sold 173,232 shares. The insider’s holdings dropped to 212,542 shares worth approximately $2.56 million following the completion of this transaction.
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Also, Fredman Marc sold 239,990 shares, netting a total of over 2,841,194 in proceeds. Following the sale of shares at $11.84 each, the insider now holds 212,542 shares.
Before that, Fredman Marc had sold 300,894 shares from its account. In a trade valued at $3,554,732, the SVP, Chief Strategy Officer traded CCC Intelligent Solutions Holdings Inc shares for $11.81 each. Upon closing the transaction, the insider’s holdings decreased to 300,894 shares, worth approximately $2.56 million.
Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in mid December. As of September 22, 2023, Stifel has initiated its “Buy” rating for CCCS. Earlier on May 23, 2023, Evercore ISI upgraded its rating. Their new recommendation was “an Outperform” for CCCS stock which previously was a “an In-line”.
Analyzing CCCS Stock Performance
During the last five days, there has been a drop of approximately -0.50%. Over the course of the year, CCC Intelligent Solutions Holdings Inc shares have jumped approximately 5.88%. Shares of the company reached a 52-week high of $12.68 on 03/08/24 and a 52-week low of $10.60 on 01/04/24. A 50-day SMA is recorded $11.42, while a 200-day SMA reached $11.30. Nevertheless, trading volume fell to 2.82 million shares from 2.52 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 11.96, which, if violated, would cause prices to drop to 11.85. In the upper region, resistance lies at 12.12. The next price resistance is at 12.17. RSI (Relative Strength Index) is 57.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.09, which suggests the price will decrease in the coming days. Percent R is at 47.15%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is CCC Intelligent Solutions Holdings Inc subject to short interest?
Stocks of CCC Intelligent Solutions Holdings Inc saw a sharp steep in short interest on Feb 29, 2024 dropping by -1.45 million shares to 6.07 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 7.52 million shares. A decline of -23.89% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.76 of the overall float, the days-to-cover ratio (short ratio) decline to 2.76.
