Altair Engineering Insider Sells $112,970 in Shares Amid Selling Trend

Raoul Maitra, Chief Legal Officer of Altair Engineering Inc, sold 1,316 shares of the company's stock at $85.73 per share, contributing to a larger trend of insider selling over the past year, which may indicate a red flag for investors and influence market sentiment in the technology industry." This description focuses on the primary topic of insider selling, the main entity of Raoul Maitra and Altair Engineering Inc, the context of the technology industry, and the significant action of the stock sale with its implications for investors. The description also provides objective and relevant details that will help an AI generate an accurate visual representation of the article's content, such as a graph showing the trend of insider selling or an image of a stock market chart with Altair Engineering Inc's stock performance.

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Aqsa Younas Rana
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Altair Engineering Insider Sells $112,970 in Shares Amid Selling Trend

Altair Engineering Insider Sells $112,970 in Shares Amid Selling Trend

Raoul Maitra, the Chief Legal Officer of Altair Engineering Inc (NASDAQ:ALTR), a global technology company providing software and cloud solutions, sold 1,316 shares of the company at $85.73 per share on May 10, 2024. The transaction, which took place in Troy, Michigan where Altair is headquartered, was valued at approximately $112,970.08.

Why this matters: Insider selling trends can be an important indicator of a company's future performance and stock valuation, and Altair's trend of insider selling over the past year may be a red flag for investors. This news may also have broader implications for the technology industry as a whole, as insider behavior can influence market sentiment and investor confidence.

Maitra's sale is part of a larger trend of insider selling at Altair over the past year. According to the company's insider transaction history, there have been 105 insider sells and no insider buys during this period. Maitra himself has sold a total of 4,465 shares over the past year without making any purchases.

At the time of Maitra's recent sale, Altair's stock had a market capitalization of approximately $7.12 billion and a price-to-earnings ratio of 714.83, significantly higher than the industry median of 27.005. The company's intrinsic value, or GF Value, is estimated at $71.59 per share, suggesting the stock is modestly overvalued with a price-to-GF-Value ratio of 1.2.

Altair Engineering serves clients across various industries, including automotive, aerospace, government, and energy. The company provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and artificial intelligence (AI).

The recent insider sale by Altair's Chief Legal Officer, along with the broader trend of insider selling over the past year, may be of interest to investors tracking insider behavior as an indicator of the company's future performance and stock valuation. While the stock appears to be modestly overvalued based on its current price-to-GF-Value ratio, the company continues to serve a diverse range of industries with its technology solutions.

Key Takeaways

  • Raoul Maitra, Altair's Chief Legal Officer, sold 1,316 shares at $85.73 each.
  • Insider selling trend at Altair may be a red flag for investors.
  • 105 insider sells, no buys in the past year, including Maitra's 4,465 shares.
  • Altair's stock appears modestly overvalued with a price-to-GF-Value ratio of 1.2.
  • Company serves diverse industries with software and cloud solutions.