In a recent transaction, Raoul Maitra, the Chief Legal Officer of Altair Engineering Inc. (NASDAQ:ALTR), sold shares of the company's stock. The transaction, which took place on May 10, 2024, involved Maitra selling a total of 1,316 shares at prices ranging from $85.66 to $85.75 per share. The combined value of the shares sold by Maitra amounted to approximately $112,824.
The sale was made public through a Form 4 filing with the Securities and Exchange Commission (SEC), which provides transparency into the trading activities of a company's insiders. According to the filing, following the sale, Maitra still holds a significant number of shares, including 7,622 Class A Common Stock restricted stock units that are unvested, as noted in the footnotes of the document.
Altair Engineering Inc., a company specializing in prepackaged software services, has its headquarters in Troy, Michigan. The company is incorporated in Delaware and trades under the ticker symbol ALTR on the NASDAQ.
Investors and the market often monitor insider transactions as they can provide insights into an executive’s perspective on the company's current valuation and future prospects. However, such transactions can be motivated by a variety of personal financial considerations and do not necessarily indicate a change in company performance or outlook.
The details of the transaction, including the exact number of shares and the price range, are disclosed to ensure transparency and to comply with regulatory requirements. Raoul Maitra's recent stock sale represents a routine disclosure of the trading activities of corporate insiders.
InvestingPro Insights
Altair Engineering Inc. (NASDAQ:ALTR) has been navigating the market with a notable presence, as reflected in its market capitalization of $7.11 billion. This valuation comes at a time when the company has reported a revenue growth of 7.11% over the last twelve months as of Q1 2024. The growth trajectory is also evident on a quarterly basis, with a 4.14% increase in revenue in Q1 2024. These figures suggest that Altair is maintaining a steady pace in expanding its financial top line.
Investors analyzing Altair's profitability metrics will find the company's gross profit margin impressive, standing at 80.64% for the last twelve months as of Q1 2024. This high margin indicates that Altair is effective in controlling the cost of goods sold and can retain a significant portion of its revenue as gross profit.
When considering investment opportunities, it's essential to look at the company's performance relative to its stock price. Altair's stock has experienced a 1-year price total return of 26.43%, reflecting investor confidence and market recognition of its growth potential. However, the stock is currently trading at 91.93% of its 52-week high, which could suggest that it is nearing its peak valuation.
InvestingPro Tips: Altair's P/E ratio, as of the last twelve months of Q1 2024, stands at 675.35, which is quite high compared to industry averages, indicating that the stock may be overvalued based on earnings. Additionally, with a PEG ratio of 6.36, the company's growth rate is factored into its valuation, providing a more nuanced perspective for growth-oriented investors. For those seeking further insights, InvestingPro offers 15+ additional tips that could guide your investment decisions in companies like Altair Engineering Inc.
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