On May 10, 2024, Raoul Maitra, the Chief Legal Officer of Altair Engineering Inc (ALTR, Financial), 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.
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