Altair Engineering Inc. (NASDAQ:ALTR) CEO Sells $1,236,300.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $95.10, for a total transaction of $1,236,300.00. Following the transaction, the chief executive officer now owns 134,045 shares in the company, valued at approximately $12,747,679.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, August 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $89.04, for a total transaction of $1,157,520.00.
• On Monday, July 29th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $88.11, for a total transaction of $1,145,430.00.

Altair Engineering Trading Down 3.5 %

Shares of ALTR stock traded down $3.35 on Tuesday, reaching $92.16. The company had a trading volume of 74,625 shares, compared to its average volume of 471,532. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29. The stock has a market cap of $7.65 billion, a PE ratio of 1,030.22, a PEG ratio of 12.01 and a beta of 1.45. The company has a 50-day moving average of $89.13 and a 200-day moving average of $89.13. Altair Engineering Inc. has a 12 month low of $57.59 and a 12 month high of $101.39.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, August 1st. The software reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. Altair Engineering’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) EPS. On average, equities analysts forecast that Altair Engineering Inc. will post 0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALTR. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday, August 2nd. JPMorgan Chase & Co. downgraded shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research report on Monday, July 15th. Finally, The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and cut their target price for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.67.

Institutional Trading of Altair Engineering

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in Altair Engineering by 97.3% during the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after purchasing an additional 583,127 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Altair Engineering by 5,564.8% during the 1st quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock worth $2,676,000 after purchasing an additional 30,495 shares in the last quarter. Matrix Capital Management Company LP increased its stake in Altair Engineering by 8.3% during the 4th quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock worth $1,029,422,000 after purchasing an additional 932,717 shares in the last quarter. Bain Capital Public Equity LP bought a new stake in Altair Engineering during the 4th quarter worth approximately $6,376,000. Finally, Linden Thomas Advisory Services LLC bought a new position in shares of Altair Engineering during the 2nd quarter worth approximately $629,000. 63.38% of the stock is owned by institutional investors.

Altair Engineering Company Profile

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.