Altair Engineering Inc. (NASDAQ:ALTR) Chief Legal Officer Raoul Maitra has sold a total of 153 shares of the company’s Class A Common Stock, according to a recent SEC filing. The transaction, which took place on May 8, 2024, was executed at a weighted average price of $84.3792 per share, resulting in a total value of approximately $12,910.
The shares were sold in multiple transactions with prices ranging from $84.32 to $84.38. The sale was made to satisfy the tax withholding obligation associated with the vesting of restricted stock units. Following the sale, Maitra still holds 28,576 shares of Altair Engineering Inc., which includes 7,622 restricted stock units that have not yet vested.
Investors and followers of Altair Engineering Inc. should note that the price reported is a weighted average, and the company's executive has committed to providing full information regarding the number of shares sold at each separate price upon request.
The transactions are part of the regular financial disclosures made by company executives and are publicly available through SEC filings. Raoul Maitra's recent transaction provides current and potential investors with insight into executive stock holdings and changes therein.
InvestingPro Insights
As Altair Engineering Inc. (NASDAQ:ALTR) navigates through the financial year, its market dynamics and executive decisions continue to draw interest from the investment community. The sale of shares by Chief Legal Officer Raoul Maitra comes at a time when the company exhibits a robust gross profit margin of 80.64% for the last twelve months as of Q1 2024. This high margin reflects the company's efficiency in managing its cost of goods sold and could be a signal of strong underlying business health.
In addition to the gross profit margin, Altair's revenue growth remains positive, with a 7.11% increase over the last twelve months as of Q1 2024. This growth, although moderate, indicates a steady upward trajectory in the company's ability to generate income. Meanwhile, the company's stock has experienced a year-to-date price total return of 1.82%, with a more notable one-year price total return of 25.01%, suggesting a favorable response from the market over the longer term.
InvestingPro Tips highlight the significance of these metrics for investors considering the company's future prospects. Altair's current P/E ratio stands at a high 726.69, which adjusts to 675.11 for the last twelve months as of Q1 2024. This high P/E ratio may suggest that the stock is valued optimistically by the market, particularly in anticipation of future earnings growth. For investors seeking a more comprehensive analysis, there are an additional 5 InvestingPro Tips available, which can be accessed with a special offer. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Investors should also note that Altair's fair value, as estimated by analysts, is 95 USD, while the InvestingPro Fair Value assessment stands at 69.11 USD. This discrepancy can offer a point of discussion on the differing valuation methods and the potential for stock price movement as the market reconciles these values.
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