Aterian, Inc. (NASDAQ:ATER) Chief Revenue Officer Phillip Lepper has sold a total of 7,721 shares of the company's common stock, according to a recent SEC filing. The transaction, which took place on September 11, 2024, was executed at a weighted average price of $3.06 per share, generating a total value of $23,626.
The shares were sold in multiple transactions with prices ranging from $3.04 to $3.14. The sale was carried out automatically to satisfy tax withholding obligations related to the vesting of restricted stock awards. Following this sale, Mr. Lepper still owns 179,645 shares of Aterian, indicating a continued investment in the company's future.
Investors often monitor insider transactions as they provide insights into how executives perceive the company's stock value and prospects. The sale by Aterian's Chief Revenue Officer comes as a notable transaction for shareholders keeping an eye on executive moves within the company.
For further details on the exact number of shares sold at each price point within the specified range, Mr. Lepper has agreed to provide full information upon request to Aterian, Inc., any security holder of the company, or the staff of the Securities and Exchange Commission.
Aterian, Inc., formerly known as Mohawk Group Holdings (NASDAQ:ATER), Inc., is a company that operates in the electric housewares and fans industry, with a focus on developing and selling various consumer products. The company is incorporated in Delaware and has its fiscal year-end on December 31.
In other recent news, Aterian Inc. has been active with key developments. The company reported a significant rise in both gross margins, which rose to 65.1%, and contribution margins, which increased to 14.1% for the first quarter of 2024, despite a 42% decrease in net revenue. The company's projected net revenue for Q2 2024 is set between $20 million and $23 million. Aterian anticipates stronger gross margins throughout 2024 and is on track for adjusted EBITDA profitability in the latter half of the year.
In addition to financial results, Aterian announced the engagement of William Kurtz as an advisor to its senior management team. The company also held its 2024 Annual Meeting of Stockholders, where key proposals were voted upon. The election of Susan Lattmann as a Class II Director and the ratification of UHY LLP as the independent registered public accounting firm for the fiscal year were among the decisions made.
Furthermore, the company announced the retirement of board member Cynthia Williams, who will not seek reelection and will retire at the conclusion of the company's 2024 Annual Meeting of Stockholders. These are the latest developments in Aterian's ongoing business operations.
InvestingPro Insights
As Aterian, Inc.'s Chief Revenue Officer, Phillip Lepper, engages in stock transactions, investors may find it useful to consider the company's financial health and market performance. According to InvestingPro data, Aterian holds a market capitalization of approximately $23.36 million. Despite a challenging period, the company has managed to maintain a gross profit margin of 55.01% over the last twelve months as of Q2 2024. This suggests that while Aterian is facing revenue declines, they still retain a substantial percentage of revenue after accounting for the cost of goods sold.
InvestingPro Tips also reveal that Aterian is trading at a low revenue valuation multiple and does not pay dividends to shareholders, which may influence investment strategies. Notably, Aterian's stock price has experienced a strong return of 45.09% over the last three months, indicating a potential turnaround or positive market sentiment in the short term. However, analysts do not anticipate the company will be profitable this year, and they expect a sales decline in the current year.
For investors seeking a deeper dive into Aterian's financials and stock performance, there are additional InvestingPro Tips available at https://www.investing.com/pro/ATER. These tips provide a comprehensive analysis that could further inform investment decisions regarding Aterian, Inc.
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