Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Christ Revocable Trust Sells 3,904 Shares

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder Christ Revocable Trust sold 3,904 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $85.42, for a total transaction of $333,479.68. Following the transaction, the insider now directly owns 283,336 shares in the company, valued at approximately $24,202,561.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Altair Engineering Price Performance

NASDAQ:ALTR traded down $0.29 during trading hours on Thursday, hitting $85.98. 194,493 shares of the company’s stock traded hands, compared to its average volume of 428,055. The firm has a market cap of $7.09 billion, a P/E ratio of -659.69, a P/E/G ratio of 11.89 and a beta of 1.43. Altair Engineering Inc. has a 52 week low of $57.59 and a 52 week high of $92.92. The business’s fifty day simple moving average is $85.79 and its two-hundred day simple moving average is $75.82. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Thursday, February 22nd. The software reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.07. The company had revenue of $171.50 million for the quarter, compared to analysts’ expectations of $172.48 million. Altair Engineering had a positive return on equity of 3.77% and a negative net margin of 1.46%. On average, research analysts anticipate that Altair Engineering Inc. will post 0.6 earnings per share for the current fiscal year.

Institutional Trading of Altair Engineering

Large investors have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new stake in Altair Engineering during the 4th quarter valued at approximately $31,000. EdgeRock Capital LLC bought a new stake in shares of Altair Engineering in the 4th quarter worth approximately $33,000. UBS Group AG boosted its position in shares of Altair Engineering by 48.7% in the 4th quarter. UBS Group AG now owns 938 shares of the software’s stock worth $43,000 after purchasing an additional 307 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Altair Engineering by 1,157.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after purchasing an additional 903 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Altair Engineering by 17.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,481 shares of the software’s stock worth $93,000 after purchasing an additional 217 shares in the last quarter. 63.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price target on shares of Altair Engineering in a research report on Thursday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research report on Monday. Oppenheimer raised their price target on shares of Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. raised their price target on shares of Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $88.00 target price (up previously from $74.00) on shares of Altair Engineering in a research report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Altair Engineering has a consensus rating of “Moderate Buy” and an average price target of $88.71.

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.