Amy Messano, Chief Marketing Officer of Altair Engineering Inc. (NASDAQ:ALTR), has recently sold a significant portion of her stock in the company. On May 21, 2024, Messano sold 19,852 shares of Class A Common Stock at prices ranging from $90.08 to $91.07, with a weighted average price of $90.5088 per share. The total value of the stock sold amounted to approximately $1,796,780.
The transactions were disclosed in a filing with the Securities and Exchange Commission. According to the filing, the sales were executed in multiple transactions. Following the sales, Messano still holds a substantial number of shares in the company, including 8,236 Class A Common Stock restricted stock units that are unvested.
In addition to the sale, the filing also revealed that Messano engaged in transactions involving stock options. Although the transactions are reported with a transaction price of $0.0, they reflect the exercise of options that are now fully vested. These options pertain to different vesting schedules and exercise prices, as detailed in the footnotes of the filing.
Investors and market watchers often scrutinize Form 4 filings to gain insight into the actions of a company's insiders. Such transactions can provide valuable information regarding how insiders view the stock's value and prospects. However, it is important to note that these transactions do not necessarily indicate a lack of confidence in the company by the insider; they may be part of a pre-determined trading plan or for personal financial management.
Altair Engineering Inc., headquartered in Troy, Michigan, is a technology company specializing in services and software related to engineering and computing. The company's stock is traded on the NASDAQ under the ticker symbol ALTR.
InvestingPro Insights
As investors digest the recent insider transactions by Altair Engineering Inc.'s (NASDAQ:ALTR) Chief Marketing Officer, Amy Messano, it's worth considering the broader financial context of the company. Altair's market capitalization stands at $7.59 billion, reflecting its position in the technology and engineering sector. The company's financial health can be further understood through key metrics, such as its Price/Earnings (P/E) ratio, which is currently high at 775.85, and adjusted for the last twelve months as of Q1 2024, it's slightly lower at 723.18.
InvestingPro Tips suggest that while the P/E ratio is high, indicating a potentially overvalued stock price relative to earnings, the company's steady revenue growth and substantial gross profit margin might be factors contributing to investor confidence. Altair's revenue has grown by 7.11% over the last twelve months as of Q1 2024, with a gross profit margin of an impressive 80.64% for the same period. Additionally, the company's EBITDA growth is noteworthy, showing a significant increase of 259.85%.
For those monitoring the stock's performance, Altair's shares are trading close to their 52-week high, at 98.48% of that peak value. The share price has experienced a positive trend over the last six months, with a 26.36% total return, reflecting a robust market sentiment. Moreover, the company's fair value, as suggested by analysts, is $95, while InvestingPro's fair value estimate stands at $71.84, offering a nuanced perspective on the stock's potential value.
Investors interested in a deeper dive into Altair's financials and insider transactions can access additional insights on InvestingPro. There are PRONEWS24 more tips available, offering a comprehensive analysis to help evaluate the company's stock performance and future prospects. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enriching your investment strategy with expert data and analysis.
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