Altair Engineering Inc.'s (NASDAQ:ALTR) Chief Marketing Officer, Amy Messano, recently sold company shares, according to the latest regulatory filings. The transaction, which took place on May 8, 2024, involved the sale of 153 shares of Class A Common Stock at an average price of $84.3792 per share, totaling over $12,910.
The shares were sold in multiple transactions with prices ranging from $84.32 to $84.38, as detailed in the footnotes of the filing. The sale was conducted to satisfy tax withholding obligations related to the vesting of restricted stock units. Following the sale, Messano still holds 18,141 shares of Altair Engineering Inc., which includes 8,236 restricted stock units that remain unvested.
Investors often scrutinize insider transactions as they can provide insights into an executive's view of the company's stock value. In the case of Altair Engineering, the sale by the Chief Marketing Officer may be of interest to current and prospective shareholders.
Altair Engineering Inc. is known for its services in prepackaged software, with a business address in Troy, Michigan. The company operates under the technology sector and is incorporated in Delaware.
InvestingPro Insights
As investors evaluate the recent insider sale by Altair Engineering Inc.'s (NASDAQ:ALTR) Chief Marketing Officer, Amy Messano, it's crucial to consider the company's financial health and market performance. Altair's market capitalization stands at a robust $7.11 billion, reflecting investor confidence and the size of the company within the technology sector.
The company's Price/Earnings (P/E) ratio, a key metric for valuation, is currently at a high 726.69, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 675.11. This suggests that investors are willing to pay a premium for Altair's earnings, potentially due to expectations of future growth or the company's strong market position. However, a high P/E ratio can also indicate that a stock is overvalued relative to earnings, which is a factor that investors should monitor.
InvestingPro Tips highlight the importance of considering Altair's revenue growth and profitability margins. The company has demonstrated a steady revenue growth of 7.11% over the last twelve months as of Q1 2024, with a gross profit margin of 80.64%, indicating efficient operations and control over costs. Additionally, Altair's EBITDA growth over the same period is a remarkable 259.85%, showcasing the company's expanding operational efficiency.
For investors seeking more detailed analysis and insights, InvestingPro offers additional tips on Altair Engineering Inc. and many other companies. Subscribers can access these valuable insights to make more informed investment decisions. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking the full potential of InvestingPro's financial analysis tools.
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