Yahoo Finance Insider Sale: Chief Legal Officer Raoul Maitra Sells Shares of Altair Engineering Inc (ALTR)
On May 10, 2024, Raoul Maitra, the Chief Legal Officer of Altair Engineering Inc (NASDAQ:ALTR), sold 1,316 shares of the company. The transaction was documented in a recent SEC Filing. Following this transaction, over the past year, the insider has sold a total of 4,465 shares and has not purchased any shares.
Altair Engineering Inc, headquartered in Troy, Michigan, is a global technology company that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and artificial intelligence (AI). The company serves clients across various industries, including automotive, aerospace, government, and energy.
The shares were sold at a price of $85.73, valuing the transaction at approximately $112,970.08. This sale occurred when the stock had a market cap of approximately $7.12 billion and a price-earnings ratio of 714.83, significantly above the industry median of 27.005.
According to the GF Value, the intrinsic value of Altair Engineering Inc is estimated at $71.59 per share, making the stock modestly overvalued with a price-to-GF-Value ratio of 1.2.
The insider transaction history for Altair Engineering Inc shows a trend of more insider selling than buying over the past year, with 105 insider sells and no insider buys.
This recent sale by the insider might interest investors tracking insider behaviors as an indicator of the company's future performance and stock valuation.
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.
This article first appeared on GuruFocus.
