GuruFocus - On August 2, 2024, Sanjay Goel, EVP & President, Asia-Pacific of American Tower Corp (NYSE:AMT), sold 4,792 shares of the company. The transaction was executed at a price of $235.39 per share, resulting in a total sale amount of $1,127,762.88. Following this transaction, the insider now directly owns 23,621 shares of American Tower Corp. Details of the sale can be viewed through the SEC Filing.
American Tower Corp is a global owner, operator, and developer of multitenant communications real estate. The company's portfolio includes approximately 219,000 communications sites, including wireless and broadcast towers in the United States and internationally. With a focus on leasing space on multi-tenant communications sites to different service providers, American Tower Corp plays a crucial role in the telecommunications infrastructure sector.
Over the past year, the insider has sold a total of 8,296 shares of American Tower Corp and has not made any purchases. This recent sale is part of a broader trend observed within the company, where there have been 17 insider sells and no insider buys over the past year.
The shares of American Tower Corp were trading at $235.39 on the day of the sale, giving the company a market cap of approximately $106.57 billion. The price-earnings ratio of the company stands at 42.89, which is above the industry median of 16.82.
According to the GF Value, the intrinsic value of American Tower Corp's stock is estimated at $220.81, suggesting that the stock is Fairly Valued with a price-to-GF-Value ratio of 1.07. The GF Value is calculated based on historical trading multiples, an adjustment factor from GuruFocus, and future business performance estimates from analysts.
This insider sale might interest investors tracking insider behaviors as an indicator of the company's future performance and stock valuation. The consistent insider selling over the past year could be a point of analysis for potential investors.
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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