Altair Engineering Inc.'s (NASDAQ:ALTR) Chief Revenue Officer, Nelson Dias, recently sold company shares, according to a new SEC filing. The transaction, which took place on May 8, involved the sale of 285 shares at a weighted average price of $84.3792, totaling over $24,048.
The shares were sold in multiple transactions with prices ranging from $84.32 to $84.38. After the sale, Dias still maintains ownership of 48,437 shares in the company, which includes 21,443 unvested restricted stock units.
The sale was conducted to satisfy the tax withholding obligation incurred due to the vesting of Class A Common Stock restricted stock units. Altair Engineering, headquartered in Troy, Michigan, is a company specializing in prepackaged software and has been incorporated in Delaware.
Investors and shareholders may request detailed information about the exact number of shares sold at each price point within the provided range. This sale reflects a part of the routine financial transactions that executives engage in, and the company remains committed to transparency in its dealings with shareholders and regulatory authorities.
The filing was signed on behalf of Nelson Dias by attorney-in-fact Raoul Maitra on May 10.
InvestingPro Insights
Amidst the recent news of Altair Engineering Inc.'s (NASDAQ:ALTR) Chief Revenue Officer, Nelson Dias, selling a portion of his shares, investors might be curious about the company's current financial health and market performance. According to InvestingPro data, Altair's market capitalization stands at a robust $7.11 billion. The company has reported a gross profit of $499.63 million with an impressive gross profit margin of 80.64% for the last twelve months as of Q1 2024. These figures suggest a strong ability to generate earnings relative to its revenue.
Moreover, Altair has experienced a 7.11% revenue growth over the same period, indicating a steady increase in its business activities. However, it's worth noting that the company's P/E ratio is relatively high at 675.11, adjusted for the last twelve months as of Q1 2024. This could suggest that the company's stock is priced on the higher side relative to its earnings, which is a point of interest for value-oriented investors.
For those looking to delve deeper into Altair's financials and future prospects, InvestingPro offers additional insights. There are 15 more InvestingPro Tips available, which can provide a more comprehensive understanding of the company's performance metrics and investment potential. Subscribers can also use the exclusive coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable data and analysis to inform their investment decisions.
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