Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CEO Sells 5,560 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 5,560 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $84.37, for a total value of $469,097.20. Following the sale, the chief executive officer now directly owns 134,045 shares in the company, valued at approximately $11,309,376.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

James Ralph Scapa also recently made the following trade(s):

• On Monday, March 18th, James Ralph Scapa sold 10,000 shares of Altair Engineering stock. The stock was sold at an average price of $80.74, for a total value of $807,400.00.
• On Wednesday, March 13th, James Ralph Scapa sold 1,686 shares of Altair Engineering stock. The stock was sold at an average price of $81.66, for a total transaction of $137,678.76.
• On Monday, March 4th, James Ralph Scapa sold 3,300 shares of Altair Engineering stock. The shares were sold at an average price of $85.32, for a total transaction of $281,556.00.
• On Friday, February 16th, James Ralph Scapa sold 10,000 shares of Altair Engineering stock. The shares were sold at an average price of $91.07, for a total transaction of $910,700.00.

Altair Engineering Stock Up 0.1 %

Shares of Altair Engineering stock traded up $0.11 during trading on Friday, reaching $85.79. 33,499 shares of the company traded hands, compared to its average volume of 410,856. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 2.46. Altair Engineering Inc. has a 1-year low of $57.59 and a 1-year high of $92.92. The company has a 50 day moving average price of $83.22 and a 200-day moving average price of $79.88. The firm has a market capitalization of $7.08 billion, a PE ratio of 952.00, a P/E/G ratio of 10.86 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm had revenue of $172.91 million for the quarter, compared to the consensus estimate of $169.29 million. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 earnings per share. As a group, equities research analysts expect that Altair Engineering Inc. will post 0.63 earnings per share for the current fiscal year.

Institutional Trading of Altair Engineering

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Altair Engineering during the fourth quarter valued at approximately $31,000. EdgeRock Capital LLC bought a new position in Altair Engineering during the 4th quarter valued at $33,000. Harvest Fund Management Co. Ltd boosted its holdings in Altair Engineering by 1,157.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after acquiring an additional 903 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Altair Engineering by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock worth $125,000 after acquiring an additional 190 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Altair Engineering by 31.3% in the third quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock valued at $136,000 after purchasing an additional 518 shares during the last quarter. 63.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ALTR shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target on shares of Altair Engineering in a report on Thursday, March 21st. Rosenblatt Securities reiterated a “neutral” rating and issued a $88.00 target price on shares of Altair Engineering in a research report on Monday, April 29th. Oppenheimer boosted their target price on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Altair Engineering has a consensus rating of “Moderate Buy” and an average target price of $94.60.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.