Altair Engineering Inc. (NASDAQ:ALTR) insider Brett R. Chouinard sold 3,000 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $45.64, for a total transaction of $136,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brett R. Chouinard also recently made the following trade(s):

  • On Thursday, October 1st, Brett R. Chouinard sold 3,000 shares of Altair Engineering stock. The shares were sold at an average price of $42.60, for a total value of $127,800.00.
  • On Thursday, September 24th, Brett R. Chouinard sold 3,000 shares of Altair Engineering stock. The shares were sold at an average price of $39.91, for a total value of $119,730.00.
  • On Thursday, September 10th, Brett R. Chouinard sold 3,000 shares of Altair Engineering stock. The stock was sold at an average price of $41.05, for a total value of $123,150.00.
  • On Thursday, August 20th, Brett R. Chouinard sold 3,000 shares of Altair Engineering stock. The shares were sold at an average price of $41.59, for a total value of $124,770.00.
  • On Thursday, August 13th, Brett R. Chouinard sold 3,000 shares of Altair Engineering stock. The shares were sold at an average price of $40.47, for a total value of $121,410.00.
  • On Thursday, July 30th, Brett R. Chouinard sold 3,000 shares of Altair Engineering stock. The stock was sold at an average price of $39.83, for a total transaction of $119,490.00.

ALTR stock opened at $46.28 on Friday. Altair Engineering Inc. has a 52 week low of $23.04 and a 52 week high of $47.43. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.52. The firm has a 50-day simple moving average of $42.02 and a 200-day simple moving average of $37.45. The stock has a market capitalization of $3.38 billion, a P/E ratio of -154.26 and a beta of 1.47.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, August 6th. The software reported ($0.02) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02). Altair Engineering had a negative return on equity of 0.33% and a negative net margin of 4.76%. The company had revenue of $98.50 million for the quarter, compared to analysts’ expectations of $94.13 million. During the same period in the previous year, the firm posted $0.06 EPS. Altair Engineering’s revenue was down 7.8% compared to the same quarter last year. On average, analysts expect that Altair Engineering Inc. will post -0.24 earnings per share for the current year.

Several research firms recently issued reports on ALTR. Zacks Investment Research raised shares of Altair Engineering from a “sell” rating to a “hold” rating in a report on Wednesday, October 7th. Guggenheim upgraded shares of Altair Engineering from a “sell” rating to a “neutral” rating in a research report on Thursday, September 10th. Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of Altair Engineering in a research report on Friday, August 7th. JPMorgan Chase & Co. raised Altair Engineering from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $40.00 to $46.00 in a report on Friday, August 7th. Finally, Benchmark raised Altair Engineering from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $40.80.

Several large investors have recently modified their holdings of the company. Matrix Capital Management Company LP increased its position in shares of Altair Engineering by 72.9% during the first quarter. Matrix Capital Management Company LP now owns 4,136,725 shares of the software’s stock worth $109,623,000 after purchasing an additional 1,744,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Altair Engineering by 8.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,861,824 shares of the software’s stock valued at $153,508,000 after purchasing an additional 292,364 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in Altair Engineering by 4.6% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,127,142 shares of the software’s stock worth $84,554,000 after purchasing an additional 94,315 shares during the last quarter. State Street Corp grew its holdings in shares of Altair Engineering by 2.0% during the first quarter. State Street Corp now owns 846,724 shares of the software’s stock worth $22,438,000 after buying an additional 16,343 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Altair Engineering by 8.9% during the first quarter. Geode Capital Management LLC now owns 568,851 shares of the software’s stock worth $15,074,000 after buying an additional 46,487 shares in the last quarter. 53.20% of the stock is currently owned by hedge funds and other institutional investors.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.

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