An insider of Altair Engineering Inc. (NASDAQ:ALTR), the Christ Revocable Trust, has recently sold a significant amount of company stock, according to the latest Form 4 filing with the Securities and Exchange Commission. The transaction, which took place on March 26, involved the sale of 3,904 shares of Class A Common Stock at a weighted average price of $85.4226 per share, resulting in a total transaction value of approximately $333,489.
The shares were sold in multiple transactions at prices ranging from $85.42 to $85.44, as detailed in the filing. Following the sale, the Christ Revocable Trust still retains a substantial number of shares, owning 283,336 shares directly after the transaction. The trust is also reported to be a ten percent owner of the company, indicating a significant stake in Altair Engineering's ownership.
The disclosed sale provides investors with insight into the trading activities of the company's insiders, which can be a valuable piece of information when assessing a company's stock performance and insider confidence. The filing was signed by Raoul Maitra, attorney-in-fact for the Christ Revocable Trust, and was dated March 28, 2024.
Altair Engineering Inc., headquartered in Troy, Michigan, operates in the prepackaged software industry and has a diverse portfolio of software solutions for product design and development, high-performance cloud computing, and data intelligence.
As is customary with SEC filings of this nature, the reporting person has committed to providing additional details regarding the number of shares sold at each separate price within the specified range, if requested by Altair Engineering Inc., any of its security holders, or the SEC staff.
InvestingPro Insights
Altair Engineering Inc. (NASDAQ:ALTR) has been navigating the market with a blend of performance metrics that might catch the attention of investors following the insider trading news. With a substantial market capitalization of $7.1 billion, the company's financials reflect a complex picture. The P/E ratio, standing at a negative 773.24, and an even more pronounced adjusted P/E ratio for the last twelve months as of Q4 2023 at -1317.34, suggest that investors have high expectations for future earnings growth despite recent losses. The PEG ratio, which is also negative at -9.88, indicates that the market may be anticipating a turnaround in growth relative to earnings.
On the revenue front, Altair has seen growth, with a 7.07% increase in the last twelve months as of Q4 2023, and a quarterly growth rate of 6.9% for Q4 2023. Their gross profit margin remains impressive at 80.12%, indicating strong underlying business efficiency. Yet, the Operating Income Margin is relatively slim at 0.97%, which could be a point of concern for margin improvement going forward.
InvestingPro Tips highlight the company's EBITDA growth of 110.48% for the same period, which is a sign of potential operational improvement and earnings strength. Additionally, the 24.06% one-year price total return demonstrates that the stock has had a strong performance over the past year, which might reflect investor confidence in the company's growth trajectory.
For investors looking to delve deeper into Altair's financials and insider movements, InvestingPro offers even more detailed analysis and tips. There are additional tips available on InvestingPro that could provide further insights into Altair's stock performance. Subscribers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to these valuable investment tools.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.