Insider Selling: Arteris, Inc. (NASDAQ:AIP) VP Sells 3,609 Shares of Stock

Arteris, Inc. (NASDAQ:AIP - Get Free Report) VP Paul L. Alpern sold 3,609 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $9.25, for a total transaction of $33,383.25. Following the completion of the transaction, the vice president directly owned 76,547 shares of the company's stock, valued at $708,059.75. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Arteris Stock Down 2.2%

Shares of NASDAQ:AIP traded down $0.21 during midday trading on Thursday, hitting $9.22. The stock had a trading volume of 393,434 shares, compared to its average volume of 232,246. The business's 50-day simple moving average is $8.11 and its 200-day simple moving average is $8.57. Arteris, Inc. has a 12 month low of $5.46 and a 12 month high of $12.64. The company has a market cap of $387.06 million, a P/E ratio of -11.24 and a beta of 1.44.

Hedge Funds Weigh In On Arteris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. G2 Investment Partners Management LLC bought a new position in Arteris during the fourth quarter worth $2,799,000. Charles Schwab Investment Management Inc. boosted its position in Arteris by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 78,690 shares of the company's stock worth $802,000 after purchasing an additional 3,298 shares during the period. BNP Paribas Financial Markets bought a new position in Arteris during the fourth quarter worth $214,000. Two Sigma Advisers LP boosted its position in Arteris by 82.9% during the fourth quarter. Two Sigma Advisers LP now owns 23,600 shares of the company's stock worth $240,000 after purchasing an additional 10,700 shares during the period. Finally, EAM Investors LLC bought a new position in Arteris during the fourth quarter worth $983,000. 64.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reissued a "buy" rating and issued a $14.00 target price 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.