10 Stocks Insiders Are Selling In March

4. Altair Engineering Inc. (NASDAQ:ALTR)

Number of Insiders Selling: 10

Market Capitalization: $9.55 billion

Altair Engineering provides software and cloud solutions for simulation, high-performance computing, data analytics, and AI, serving clients in the U.S. and globally. The Troy, Michigan-based company operates in two segments: Software, and Client Engineering Services.

In January, the company announced that its stockholders had approved the proposed merger agreement with Siemens Industry Software Inc., a subsidiary of Siemens AG. Under the agreement, Siemens will buy all the outstanding shares of Altair’s common stock for $113.00 per share in cash.

Upon completion of the transaction, Altair’s securities will no longer be listed on any public stock exchange.

For the full 2024, the company disclosed a total revenue of $665.8 million compared to $612.7 million in 2023, an increase of 8.7% in reported currency and 9.8% in constant currency. Net income amounted to $14.2 million, which compares to a net loss of $8.9 million in 2023. Adjusted EBITDA was $149.9 million, which compares to $129.1 million in the prior year. Free cash flow was $140.0 million, compared to $117.1 million for the full year of 2023.

In March, 10 insiders, including the company’s COO, and CFO, sold a total of around $334,850 worth of Altair Engineering shares at an average price of $111.41 per share. The stock gained 2.05% since the beginning of the year and is now trading at $111.35. Over the last 12 months, it returned 38.70%.

According to data from StockAnalysis, seven analysts have an average “Hold” rating on the Altair Engineering stock with a price target of $101.0. The average price target indicates a decrease of 9.30% from the latest price.