GuruFocus - On June 13, 2024, Brian Gayle, Chief Accounting Officer of Altair Engineering Inc (NASDAQ:ALTR), sold 1,866 shares of the company. The transaction was executed at a price of $96.57 per share, as detailed in the SEC Filing. Following this transaction, the insider now owns 16,557 shares of Altair Engineering Inc.
Altair Engineering Inc specializes in providing software and cloud solutions in simulation, high-performance computing, data analytics, and artificial intelligence. The company operates globally, catering to a diverse clientele across various industries.
Over the past year, the insider has sold a total of 3,143 shares and has not made any purchases. This recent sale is part of a broader trend observed within the company, where there have been 114 insider sells and no insider buys over the past year.
Shares of Altair Engineering Inc were trading at $96.57 on the day of the sale, giving the company a market cap of $8.039 billion. The price-earnings ratio stands at 806.83, significantly higher than both the industry median and the company's historical median.
The stock's valuation, according to the GF Value, is $71.41, indicating that with a price-to-GF-Value ratio of 1.35, Altair Engineering Inc is considered significantly overvalued.
The GF Value is calculated based on historical multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider sale might interest investors tracking insider behaviors as an indicator of company performance and valuation perspectives.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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