Marc Fredman, the Senior Vice President and Chief Strategy Officer at CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS), has recently sold a significant portion of his stock in the company. On April 1, 2024, Fredman sold 28,804 shares at a price of $11.97 per share, resulting in a total transaction value of approximately $344,783.
The sale was conducted automatically under a Rule 10b5-1 trading plan, which Fredman had previously established on November 17, 2023. Such trading plans allow company insiders to sell shares over a predetermined period of time, providing an affirmative defense against accusations of trading on nonpublic information.
Following the transaction, Fredman retains ownership of 183,738 shares in CCC Intelligent Solutions. The company, known for its services in prepackaged software, has not provided any further comments on this recent stock sale.
Investors often keep a close watch on insider trades as they can provide signals about executives' confidence in the company's prospects. CCC Intelligent Solutions Holdings Inc., with its trading symbol CCCS, continues to operate in the technology sector, providing intelligent solutions to its clientele.
InvestingPro Insights
Amidst the recent news of Marc Fredman's stock sale, CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) presents a mixed bag of metrics and expectations. According to InvestingPro data, the company boasts a substantial market capitalization of $7.12 billion, reflecting its significant presence in the prepackaged software industry. Despite a negative P/E ratio of -78.93, indicating that the company is currently not profitable, CCC Intelligent Solutions has shown a strong revenue growth of 10.73% over the last twelve months as of Q4 2023. This growth is further highlighted by their impressive gross profit margin of 76.53%, suggesting efficient cost management relative to revenue.
Looking at the company's future prospects, InvestingPro Tips reveal that management has been actively buying back shares, which can be a sign of confidence in the company's value. Moreover, analysts have revised their earnings expectations upwards for the upcoming period, and predict that CCC Intelligent Solutions will turn profitable this year. These insights could be particularly relevant for investors considering the context of the insider stock sale.
For those interested in a deeper dive into CCC Intelligent Solutions' performance and outlook, there are 11 additional InvestingPro Tips available at https://www.investing.com/pro/CCCS. These tips may provide further clarity on the company's financial health and future potential. Moreover, readers can take advantage of an additional 10% off a yearly or biyearly Pro and Pro+ subscription with the coupon code PRONEWS24.
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