George J. Christ, a significant shareholder at Altair Engineering Inc. (NASDAQ:ALTR), has recently sold shares of the company's stock. According to the latest filings, Christ offloaded 3,904 shares at an average price of approximately $85.42 to $85.44, resulting in a total transaction value of around $333,489.
The sale took place on March 26, 2024, and was disclosed in a filing with the Securities and Exchange Commission on March 28. Following the transaction, Christ still holds a substantial number of shares indirectly through various trusts and entities. Specifically, the shares are held by the Christ Revocable Trust, The Dana Christ Irrevocable Trust, The Lauren Christ Irrevocable Trust, and GC Investments LLC, with Christ serving as a trustee or manager for these holdings.
It's important to note that Christ, while serving in these roles, disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest. This disclaimer is a standard declaration to indicate that the ownership reported is not for the purpose of exerting control but rather for managing the assets within the trusts or entities.
Investors and the market often monitor insider transactions as they may provide insights into an executive's confidence in the company's future performance. However, such transactions can be motivated by a variety of personal financial considerations and should not be interpreted as a definitive indicator of a company's trajectory.
Altair Engineering Inc., headquartered in Troy, Michigan, specializes in prepackaged software services and has been a significant player in the technology sector. The company's stock performance and insider trading activity are closely watched by investors seeking to understand market trends and company health.
InvestingPro Insights
As investors scrutinize the recent insider sale by George J. Christ at Altair Engineering Inc. (NASDAQ:ALTR), it's beneficial to consider the company's financial health and market performance through key metrics. Altair's market capitalization stands at a robust $7.09 billion, reflecting its considerable presence in the software services sector. Notably, the company has experienced a revenue growth of 7.07% over the last twelve months as of Q4 2023, indicating a steady increase in its business activities.
Moreover, Altair's gross profit margin is an impressive 80.12% for the same period, suggesting a strong ability to control costs and generate earnings from its revenue. When it comes to shareholder returns, the company has a 1 Year Price Total Return of 24.06%, showcasing a positive trend in investor gains over the past year. These metrics provide a broader context to the insider trading activity and may help investors in their decision-making process.
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