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On Tue, 1 Oct, 12:04 AM UTC
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Altair Engineering insider sells over $4.7 million in company stock By Investing.com
In a recent transaction, George J. Christ, a significant shareholder in Altair Engineering Inc. (NASDAQ:ALTR), sold 50,048 shares of the company's stock. The sale was executed at an average price of $95.07 per share, resulting in a total value of approximately $4.76 million. The transactions occurred in multiple parts, with share prices ranging from $94.95 to $95.9375. This information was disclosed in compliance with regulatory requirements, and full details of the shares sold at each price point are available upon request. Following the sale, Christ still holds a substantial number of shares indirectly through various trusts and investment entities. Specifically, the shares are held by the Christ Revocable Trust, the Dana Christ Irrevocable Trust, the Lauren Christ Irrevocable Trust, and GC Investments LLC. It is important to note that Christ disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest. This sale represents a notable transaction for Altair Engineering, a company specializing in prepackaged software services. Investors often monitor insider sales as they can provide insights into the perspectives of company executives and significant shareholders regarding the stock's future performance. Altair Engineering's stock performance and future prospects continue to be a point of interest for investors in the technology sector. In other recent news, Altair Engineering Inc. reported a significant growth in its Q2 2024 earnings, with total revenue reaching $148.8 million and software revenue hitting $135.4 million, a 10.6% year-over-year increase. The company's strong performance in the aerospace and defense sector and the release of enhanced AI capabilities in Altair HyperWorks 2024 were key contributors to this growth. Altair's leadership in data science and machine learning was recognized by Gartner (NYSE:IT), further solidifying its position in the industry. The company also announced the acquisition of Metrics Design Automation, expanding its reach within the field. Altair's full-year 2024 guidance includes software revenue of $590 million to $600 million and total revenue of $648 million to $658 million, indicating a positive outlook for the business. Altair also acknowledged the ongoing investment by Matrix Capital Management, expressing gratitude for the firm's continued support. This move demonstrates Matrix Capital's confidence in Altair's long-term strategic value. These recent developments underline Altair's strong trajectory in the competitive landscape of engineering software solutions. Altair Engineering Inc. (NASDAQ:ALTR) has shown impressive financial performance, which adds context to the recent insider sale by George J. Christ. According to InvestingPro data, the company boasts a market capitalization of $8.09 billion, reflecting its substantial presence in the prepackaged software services sector. Altair's revenue growth remains positive, with a 6.85% increase over the last twelve months as of Q2 2024, reaching $627.21 million. This growth trajectory aligns with the company's strong position in the technology market. Moreover, Altair's gross profit margin stands at an impressive 80.92%, indicating efficient cost management and potentially high-value products or services. One of the InvestingPro Tips highlights that Altair's stock price has outperformed the S&P 500 in the past year, with a one-year price total return of 51.65%. This substantial return may provide some context for the insider's decision to sell shares, possibly to realize gains. Another relevant InvestingPro Tip notes that analysts have recently revised their earnings expectations upwards for the upcoming year. This positive outlook could suggest that despite the insider sale, there's confidence in the company's future performance. For investors seeking a deeper understanding of Altair Engineering's prospects, InvestingPro offers 12 additional tips, providing a more comprehensive analysis of the company's financial health and market position. Altair's next earnings date is set for October 31, 2024, which will be a key event for investors to gauge the company's ongoing performance and potentially validate the positive analyst revisions.
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Altair Engineering insider sells over $4.75 million in company stock By Investing.com
In a recent transaction, an insider of Altair Engineering Inc. (NASDAQ:ALTR), the Christ Revocable Trust, has sold a significant number of shares in the company. The transaction involved the sale of 50,048 shares of Class A Common Stock at an average price of $95.0732 per share, totaling approximately $4.75 million. The shares were sold on September 27, 2024, and the prices ranged from $94.95 to $95.9375 per share. The trust, which is a ten percent owner of the company, has disclosed this information in compliance with the Securities and Exchange Commission's requirements. Following the sale, the Christ Revocable Trust continues to hold 149,952 shares of Altair Engineering Inc. Altair Engineering Inc. is known for its services in prepackaged software and has established a significant presence in the tech industry. The company, incorporated in Delaware, has its business address in Troy, Michigan. Investors and market watchers often look to insider transactions as an indicator of a company's health and future performance, though such sales can be motivated by a variety of personal financial considerations. The detailed information regarding the number of shares sold at each separate price within the stated range is available upon request from the reporting person. The sale was signed off by Raoul Maitra, attorney-in-fact for the Christ Revocable Trust, demonstrating the legal formalities followed in the process of this transaction. The trust's remaining stake in the company is still substantial, indicating a continued vested interest in Altair Engineering's success. Investors will be watching how this sale might affect Altair Engineering's stock performance and what it may signal about the company's trajectory in the near future. In other recent news, Altair Engineering Inc. reported significant growth in its Q2 2024 earnings, with total revenue reaching $148.8 million and software revenue hitting $135.4 million. This marks a 10.6% year-over-year increase in software revenue, now comprising 91% of the company's total revenue. This growth was largely driven by strong performance in the aerospace and defense sector and the release of enhanced AI capabilities in Altair HyperWorks 2024. Altair has also acknowledged the ongoing support from Matrix Capital Management, emphasizing Matrix Capital's continued investment as a testament to the company's long-term strategic value. In addition, Gartner (NYSE:IT) recognized Altair's leadership in data science and machine learning, and the company expanded its reach with the acquisition of Metrics Design Automation. Altair's full-year 2024 guidance includes software revenue of $590 million to $600 million and total revenue of $648 million to $658 million. Adjusted EBITDA for 2024 is projected to be between $136 million and $144 million. These recent developments point to a positive trajectory for Altair Engineering Inc. in the competitive landscape of engineering software solutions. To provide additional context to the recent insider sale at Altair Engineering Inc. (NASDAQ:ALTR), let's examine some key financial metrics and insights from InvestingPro. Altair Engineering boasts a market capitalization of $8.09 billion, reflecting its significant presence in the prepackaged software industry. The company's revenue for the last twelve months as of Q2 2024 stood at $627.21 million, with a modest growth rate of 6.85% over the same period. This growth, while positive, may be a factor in the insider's decision to sell a portion of their holdings. One of the standout metrics is Altair's impressive gross profit margin of 80.92% for the last twelve months as of Q2 2024. This high margin suggests that the company has strong pricing power and efficient cost management in its core operations, which could be attractive to potential investors. InvestingPro Tips highlight two important aspects of Altair's financial performance: 1. The company has demonstrated strong revenue growth, with a 5.41% increase in the most recent quarter compared to the same quarter last year. 2. Altair's stock has outperformed the market, with a 51.65% return over the past year. These tips, along with 11 additional insights available on InvestingPro, provide a more comprehensive view of Altair's financial health and market position. It's worth noting that while the insider sale was substantial, the Christ Revocable Trust still maintains a significant stake in the company. This, coupled with Altair's solid financial metrics, suggests that the sale may not necessarily indicate a lack of confidence in the company's future prospects. The current stock price of $94.87 is close to the fair value of $95 based on analyst targets, indicating that the market's valuation aligns closely with expert opinions. Investors considering Altair may want to weigh these factors alongside the insider transaction when making investment decisions.
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James R. Scapa, founder, chairman, and CEO of Altair Engineering, has sold a significant portion of company stock. The transaction, valued at over $47 million, has caught the attention of investors and market analysts.
James R. Scapa, the founder, chairman, and CEO of Altair Engineering Inc. (Nasdaq: ALTR), has executed a substantial sale of company stock. On November 15, 2023, Scapa sold 885,000 shares of Altair Engineering, amounting to a transaction value of $47,514,450 1. This significant insider sell-off has raised eyebrows in the investment community and prompted discussions about its potential implications for the company.
The sale was conducted at an average price of $53.69 per share. Following the transaction, Scapa still retains a substantial stake in the company, with 3,330,113 shares remaining in his possession 1. This remaining holding underscores Scapa's continued significant interest in Altair Engineering, despite the large sale.
Altair Engineering Inc. is a global technology company that provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence. The company has established itself as a leader in engineering simulation and optimization solutions, serving a diverse range of industries including automotive, aerospace, and manufacturing 2.
Insider transactions of this magnitude often attract considerable attention from investors and analysts. While it's not uncommon for company executives to sell shares for personal financial planning or diversification reasons, a sale of this size may lead to various interpretations in the market.
Some investors might view this insider sell-off as a potential signal of reduced confidence in the company's short-term prospects. However, it's important to note that Scapa still maintains a significant ownership position in Altair Engineering, which could be seen as a vote of confidence in the company's long-term outlook.
The impact of this insider sale on Altair Engineering's stock price and investor sentiment remains to be seen. Market analysts will likely be closely monitoring the company's performance and any subsequent insider transactions in the coming weeks and months.
It's worth noting that insider sales should be considered in the broader context of the company's financial health, market position, and growth prospects. Investors are advised to conduct thorough research and consider multiple factors before making investment decisions based solely on insider transactions.
As per Securities and Exchange Commission (SEC) regulations, the sale was promptly reported through the appropriate filings. This transparency is crucial for maintaining investor trust and complying with insider trading laws 12.
The software and cloud solutions industry, in which Altair Engineering operates, continues to show strong growth potential. As businesses increasingly rely on simulation, high-performance computing, and AI-driven analytics, companies like Altair are well-positioned to capitalize on these trends.
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Multiple high-ranking executives at Palantir Technologies, including the CEO and CFO, have sold substantial amounts of company stock, totaling over $73 million in recent transactions.
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Recent SEC filings reveal a series of large stock sales by Palantir Technologies executives and insiders, totaling over $54 million. These transactions have raised questions about insider confidence in the company's future prospects.
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Multiple Palantir Technologies executives, including the CTO and CFO, have sold significant amounts of stock. The company reports strong AI-driven growth, plans to switch to Nasdaq, and faces mixed analyst reactions.
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Palantir Technologies sees significant insider stock sales, including $650 million by CEO Alexander Karp, as the company reports strong AI-driven growth and receives mixed analyst ratings.
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Arista Networks sees major stock sales by top executives, including CEO Jayshree Ullal's $62 million sale and another executive's $900,000 transaction, raising questions about insider sentiment.
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