Arteris, Inc. (NASDAQ:AIP) CEO Charles K. Janac has recently sold a total of 10,103 shares of the company's common stock, according to a new SEC filing. The transactions, which took place on April 2, 2024, resulted in proceeds of over $71,000 for Janac.
The sales were executed in two separate transactions with prices for the shares ranging from $6.91 to $7.12. The first transaction involved the sale of 5,610 shares at an average price of $7.0267, netting a total of $39,419. In the second transaction, 4,493 shares were sold at an average price of $7.0288, totaling $31,580.
It was noted in the footnotes of the filing that a portion of the shares sold were to satisfy the reporting person's tax liability arising from the release of restricted stock units. Additionally, the larger sale was made pursuant to a 10b5-1 trading plan that Janac had adopted on March 12, 2023.
Following these transactions, Janac still holds a significant number of shares in Arteris. The filing disclosed that he owns 318,644 shares directly and has indirect ownership through Bayview Legacy, LLC and the Charles & Lydia Janac Trust, which hold 10,307,691 and 63,252 shares, respectively.
Investors and followers of Arteris, Inc. often keep a close eye on insider transactions as they can provide valuable insights into executives' perspectives on the company's current valuation and future prospects.
InvestingPro Insights
As Arteris, Inc. (NASDAQ:AIP) navigates the market, recent transactions by CEO Charles K. Janac have caught the attention of investors. In light of these developments, examining the company's financial metrics and analyst projections through InvestingPro offers a deeper understanding of Arteris's position. The company's market capitalization stands at a modest 284.25 million USD, reflecting its size within the industry.
Despite the insider sales, Arteris boasts a robust gross profit margin of 90.54% for the last twelve months as of Q4 2023, indicative of its efficiency in controlling the costs of goods sold relative to its revenue, which was 53.67 million USD. This impressive margin aligns with one of the InvestingPro Tips highlighting the company's strong gross profit margins.
Investors should also note that Arteris has experienced a significant 35.32% return over the last three months, a testament to its recent performance in the market. This aligns with another InvestingPro Tip pointing to the company's strong return in the short term. However, the company's Price / Book ratio is relatively high at 17.69, suggesting that the stock might be valued richly in relation to the company's net assets.
For those looking to delve further into Arteris's potential, InvestingPro offers additional tips and insights. Currently, there are 3 more tips available, including analyst consensus on earnings revisions and the company's cash-to-debt position. To access these insights and more, consider using the coupon code PRONEWS24 for an extra 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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