Arteris, Inc. (NASDAQ:AIP) CFO Sells $50,911.14 in Stock

Key Points

• Nicholas B. Hawkins, CFO of Arteris, Inc., sold 5,638 shares at an average price of $9.03, amounting to a total of $50,911.14, which decreased his ownership in the company by 4.51%.
• Arteris, Inc. saw a significant trading increase of 4.4% recently, with shares hitting $9.45 and a trading volume of 1,702,111, which is much higher than its average of 333,228 shares.
• Several institutional investors have shown interest in Arteris, with 64.36% of the company’s stock now owned by hedge funds and institutional investors after notable increases in their stakes.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) CFO Nicholas B. Hawkins sold 5,638 shares of Arteris stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $9.03, for a total value of $50,911.14. Following the sale, the chief financial officer owned 119,272 shares of the company's stock, valued at approximately $1,077,026.16. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arteris Stock Performance

Shares of NASDAQ:AIP traded up $0.43 on Friday, reaching $9.74. The company's stock had a trading volume of 683,346 shares, compared to its average volume of 536,469. Arteris, Inc. has a 52-week low of $5.46 and a 52-week high of $14.29. The company has a 50-day simple moving average of $9.12 and a 200 day simple moving average of $8.39. The company has a market cap of $408.82 million, a P/E ratio of -11.88 and a beta of 1.45.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AIP. TD Cowen increased their target price on shares of Arteris from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday. Rosenblatt Securities reissued a "buy" rating and set a $14.00 price target on shares of Arteris in a research report on Wednesday, May 21st.

Hedge Funds Weigh In On Arteris

Several hedge funds have recently modified their holdings of AIP. Quarry LP acquired a new stake in Arteris during the 4th quarter worth $46,000. CWM LLC lifted its stake in shares of Arteris by 4,810.1% during the first quarter. CWM LLC now owns 10,213 shares of the company's stock valued at $71,000 after buying an additional 10,005 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Arteris during the first quarter worth about $95,000. Savant Capital LLC bought a new position in Arteris during the 2nd quarter worth approximately $97,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Arteris in the 2nd quarter worth about $104,000. Institutional investors and hedge funds 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.