Altair Engineering Inc.'s (NASDAQ:ALTR) Chief People Officer, Gilma Saravia, has recently sold a significant number of company shares, according to the latest regulatory filings. On May 17, Saravia sold 1,684 shares of Class A Common Stock at a price of $91.08 per share, totaling approximately $153,378.
The transaction has adjusted Saravia's holdings in the company, leaving her with a total of 17,080 shares of Altair Engineering's Class A Common Stock. It's important to note that this figure includes 8,505 restricted stock units that are currently unvested, as indicated in the footnotes of the filing document.
Investors often monitor insider transactions as they can provide insights into an executive’s perspective on the company’s current valuation and future prospects. While the reasons behind Saravia's decision to sell shares are not disclosed in the filing, such transactions are a regular part of executive compensation and portfolio management.
Altair Engineering, headquartered in Troy, Michigan, specializes in prepackaged software services and has seen its stock price fluctuate in recent times. Shareholders and potential investors in Altair Engineering will likely keep an eye on trading activity from insiders to gauge market sentiment and company performance.
As with all insider transactions, this sale was reported in a Form 4 document, filed with the Securities and Exchange Commission, which provides transparency into the trading activities of the company's executives and major shareholders.
InvestingPro Insights
Amidst the news of Altair Engineering Inc.'s (NASDAQ:ALTR) Chief People Officer's recent stock sale, investors are keen to understand the company's financial health and market performance. With a substantial market capitalization of $7.61 billion, Altair has established itself as a significant player in the software services industry. The company's recent financial data, according to InvestingPro, shows a Price/Earnings (P/E) ratio of 724.44 when adjusted for the last twelve months as of Q1 2024. While this P/E ratio is on the higher end, suggesting a premium valuation, the company's Price to Book (P/B) ratio of 10.01 indicates that investors are willing to pay more per share compared to the company's book value.
InvestingPro Tips highlight the company's revenue growth, which has seen a 7.11% increase in the last twelve months as of Q1 2024, and a quarterly increase of 4.14% for Q1 2024. These figures demonstrate Altair's ability to grow its top-line revenue, which is a positive sign for investors looking for growth potential. Additionally, a robust Gross Profit Margin of 80.64% shows the company's efficiency in managing its cost of goods sold and maintaining profitability.
For investors interested in more detailed analysis, there are additional tips available on InvestingPro, which could further inform investment decisions. To enhance your research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. This will grant access to an expanded set of metrics and insights that can help in evaluating Altair Engineering's performance and future potential.
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