Insider Selling: Arteris, Inc. (NASDAQ:AIP) CEO Sells 7,153 Shares of Stock

Arteris, Inc. (NASDAQ:AIP - Get Free Report) CEO K Charles Janac sold 7,153 shares of Arteris stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $8.99, for a total value of $64,305.47. Following the completion of the sale, the chief executive officer directly owned 295,845 shares of the company's stock, valued at $2,659,646.55. This trade represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

K Charles Janac also recently made the following trade(s):

• On Thursday, July 3rd, K Charles Janac sold 11,815 shares of Arteris stock. The stock was sold at an average price of $9.25, for a total value of $109,288.75.
• On Tuesday, July 1st, K Charles Janac sold 2,666 shares of Arteris stock. The stock was sold at an average price of $9.09, for a total value of $24,233.94.
• On Friday, June 27th, K Charles Janac sold 18,620 shares of Arteris stock. The stock was sold at an average price of $10.02, for a total value of $186,572.40.
• On Wednesday, June 4th, K Charles Janac sold 2,057 shares of Arteris stock. The stock was sold at an average price of $7.83, for a total value of $16,106.31.
• On Monday, June 2nd, K Charles Janac sold 1,246 shares of Arteris stock. The shares were sold at an average price of $7.70, for a total value of $9,594.20.

Arteris Stock Down 1.3%

Shares of NASDAQ:AIP traded down $0.12 during trading on Wednesday, reaching $9.43. 268,090 shares of the company traded hands, compared to its average volume of 231,600. Arteris, Inc. has a 52 week low of $5.46 and a 52 week high of $12.64. The firm has a market capitalization of $395.87 million, a PE ratio of -11.50 and a beta of 1.44. The company's 50 day moving average is $8.11 and its two-hundred day moving average is $8.57.

Hedge Funds Weigh In On Arteris

Several large investors have recently bought and sold shares of the company. Needham Investment Management LLC lifted its holdings in shares of Arteris by 2.5% during the first quarter. Needham Investment Management LLC now owns 2,812,500 shares of the company's stock worth $19,434,000 after purchasing an additional 67,500 shares during the period. Samjo Management LLC lifted its holdings in shares of Arteris by 0.9% during the fourth quarter. Samjo Management LLC now owns 1,157,250 shares of the company's stock worth $11,792,000 after purchasing an additional 10,000 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Arteris by 40.6% during the first quarter. Acadian Asset Management LLC now owns 900,723 shares of the company's stock worth $6,222,000 after purchasing an additional 260,277 shares during the period. Next Century Growth Investors LLC raised its position in shares of Arteris by 46.4% during the first quarter. Next Century Growth Investors LLC now owns 407,721 shares of the company's stock worth $2,817,000 after acquiring an additional 129,143 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Arteris by 97.2% during the first quarter. Federated Hermes Inc. now owns 327,119 shares of the company's stock worth $2,260,000 after acquiring an additional 161,241 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reiterated a "buy" rating and set a $14.00 price objective on shares of Arteris in a research note on Wednesday, May 21st.

About Arteris

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.