Altair Engineering Inc. (NASDAQ:ALTR) Chief People Officer Gilma Saravia recently sold shares of the company's stock, according to the latest SEC filings. The transactions, which took place on May 8, 2024, involved a total of 153 shares of Class A common stock sold at an average price of $84.3769, resulting in a total value of approximately $12,909.
The shares were sold in multiple transactions at prices ranging from $84.14 to $84.38, as part of the executive's tax withholding obligations related to the vesting of restricted stock units. Following the sale, Saravia continues to hold 18,764 shares of Altair Engineering Inc., which includes 8,505 Class A Common Stock restricted stock units that are yet to vest.
The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC's website. Altair Engineering Inc. specializes in prepackaged software services and is headquartered in Troy, Michigan.
Investors and shareholders interested in the specifics of the sale transactions can request detailed information from Altair Engineering Inc. regarding the number of shares sold at each price point within the reported range.
InvestingPro Insights
As Altair Engineering Inc. (NASDAQ:ALTR) navigates through the market, recent data from InvestingPro provides a broader financial context to the stock activity. The company's market capitalization stands at a solid $7.11 billion, reflecting investor confidence in its business model. Altair's Price to Earnings (P/E) ratio, a key indicator of market expectations about the company's earnings growth, is notably high at 675.11 (adjusted for the last twelve months as of Q1 2024). This elevated P/E ratio could indicate that investors expect higher future earnings or that the stock is currently overvalued.
InvestingPro Tips highlight the company's robust gross profit margin of 80.64% for the same period, which suggests that Altair has been effective in managing its cost of goods sold and maintaining profitability. Additionally, the company has experienced a significant EBITDA growth of 259.85%, a testament to its operational efficiency and potentially a positive sign for investors looking for companies with strong earnings potential.
For those considering an investment in Altair Engineering Inc., the company's recent performance includes a 1 Year Price Total Return of 25.01%, which may appeal to growth-focused investors. Moreover, Altair's stock is currently trading at 92.21% of its 52-week high, indicating that it is near the top of its range over the past year. Prospective investors can take advantage of additional insights by using the promo code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, which offers even more in-depth tips and metrics, with a total of 5 additional InvestingPro Tips available for ALTR.
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