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Altus Power , Inc. (NYSE:AMPS) Chief Financial Officer Dustin Weber recently sold 20,923 shares of the company’s Class A common stock. The shares were sold at a price of $4.95 each, totaling approximately $103,568. The transaction comes as AMPS shares have surged nearly 60% over the past six months, with the company maintaining impressive gross profit margins of 76.5%. According to InvestingPro analysis, the stock is currently trading above its Fair Value. Following this transaction, Weber retains ownership of 1,981,688 shares in the company.
This sale was conducted to satisfy tax withholding obligations through a "sell to cover" transaction, as noted in the filing, and does not represent a discretionary trade by Weber. The transaction was reported in a Form 4 filing with the Securities and Exchange Commission for the period ending March 31, 2025.
In other recent news, Altus Power is set to go private following a definitive acquisition agreement with TPG Rise Climate, valued at approximately $2.2 billion, including debt. The acquisition price of $5.00 per share represents a 66% premium over Altus Power’s unaffected closing price in October 2024. This transaction, expected to close in the second quarter of 2025, has already secured approval from Altus Power’s Board of Directors and support from stockholders holding about 40% of the company’s Class A common stock. UBS has downgraded Altus Power’s stock rating from Buy to Neutral, citing the acquisition deal as a stabilizing factor for the stock’s value. Meanwhile, JPMorgan upgraded Altus Power’s rating from Underweight to Neutral, considering the takeover offer reasonable under current market conditions. Both UBS and JPMorgan have set a price target of $5.00 for the stock. The acquisition is anticipated to enhance Altus Power’s offerings in the commercial and Community Solar sectors. Notably, the deal does not depend on financing conditions, and regulatory approvals are pending for its completion.
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