Insider Selling: Arteris, Inc. (NASDAQ:AIP) Major Shareholder Sells 50,000 Shares of Stock

Key Points

• Bayview Legacy, LLC sold 50,000 shares of Arteris, Inc. stock for a total of $656,000, decreasing their ownership by 0.51% to approximately 9.84 million shares.
• Arteris, Inc. shares fell by 5.9%, closing at $9.31, with a market cap of around $390.83 million and a price-to-earnings ratio of -11.35.
• Recent analyst ratings for Arteris include upgrades, with TD Cowen raising the price target to $15.00 and maintaining a "buy" rating.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) major shareholder Bayview Legacy, Llc sold 50,000 shares of Arteris stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $13.12, for a total value of $656,000.00. Following the completion of the sale, the insider owned 9,839,071 shares of the company's stock, valued at approximately $129,088,611.52. The trade was a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Arteris Price Performance

AIP stock traded up $0.02 during midday trading on Monday, reaching $9.32. 159,347 shares of the company were exchanged, compared to its average volume of 538,752. The firm has a market capitalization of $397.28 million, a price-to-earnings ratio of -11.37 and a beta of 1.45. Arteris, Inc. has a one year low of $5.46 and a one year high of $14.29. The business has a 50-day moving average price of $9.15 and a two-hundred day moving average price of $8.32.

Analyst Ratings Changes

A number of brokerages have issued reports on AIP. Rosenblatt Securities reiterated a "buy" rating and issued a $14.00 price target on shares of Arteris in a research note on Wednesday, May 21st. TD Cowen lifted their price target on shares of Arteris from $12.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th.

Institutional Trading of Arteris

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Arteris in the first quarter valued at about $95,000. G2 Investment Partners Management LLC acquired a new stake in Arteris during the 4th quarter valued at $2,799,000. BNP Paribas Financial Markets purchased a new stake in shares of Arteris during the fourth quarter worth about $214,000. Two Sigma Advisers LP raised its holdings in shares of Arteris by 82.9% during the fourth quarter. Two Sigma Advisers LP now owns 23,600 shares of the company's stock valued at $240,000 after buying an additional 10,700 shares during the last quarter. Finally, EAM Investors LLC purchased a new position in shares of Arteris during the 4th quarter valued at $983,000. Hedge funds and other institutional investors own 64.36% of the company's stock.

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.